WalletConnect is more than just a connector it’s the backbone that allows crypto wallets, especially self-custody ones, to interact securely with decentralized applications (dApps). Instead of forcing every app to manage private keys, WalletConnect creates an encrypted communication channel that keeps wallets isolated and safe, while giving users a seamless experience across multiple apps and blockchains.
Created in 2018 by Pedro Gomes, WalletConnect has grown into one of the most widely used infrastructures in Web3. Today it is integrated into hundreds of wallets and tens of thousands of apps, powering millions of secure wallet-to-dApp connections.
Key Highlights include QR code or deep-link based connections, end-to-end encrypted messaging where private keys never leave the wallet, and broad support for Ethereum, EVM chains, Layer-2s, and even hardware wallets.
Over time, WalletConnect has evolved from a protocol into a decentralized network backed by its native token, WCT (WalletConnect Token). This token underpins governance, staking, and incentives designed to align users, developers, and node operators.
The tokenomics are capped at 1 billion WCT, allocated across the Foundation (27%), airdrops (18.5%), team (18.5%), staking rewards (17.5%), backers (11.5%), and development (7%).
WCT has multiple roles in the ecosystem: staking to secure the network and support node operators, governance through community voting, rewards to incentivize performance and reliability, and a future fee model where some services are paid in WCT.
When it first launched, WCT was non-transferable to avoid speculation. But on April 15, 2025, transferability was unlocked via governance — opening liquidity and making WCT tradeable across markets.
WalletConnect’s biggest strengths are its deep ecosystem integration, its UX-first design that simplifies onboarding into DeFi and NFTs, its clear path toward decentralization, its multi-chain reach, and its strong incentive alignment with capped token supply.
Challenges remain, including competition from other connection standards, scaling relay infrastructure, balancing fees, preventing governance centralization, and securing against phishing or relay attacks. Market volatility is also a factor as more tokens unlock and enter circulation.
Currently, WalletConnect is enabling tens of millions of secure connections, with a circulating supply of about 186.2 million WCT tokens. It is actively traded on major exchanges and is still in relatively early stages compared to other infrastructure tokens.
Looking ahead, WalletConnect’s success will depend on smooth rollout of DAO-style governance, robust relay upgrades, transparent service fee economics, strong incentives for ecosystem participants, multi-chain expansion, and continued security hardening.
In short, WalletConnect is positioning itself as the trustless bridge of Web3. With WCT powering governance, staking, and ecosystem rewards, it has the potential to become one of the defining infrastructure layers for decentralized adoption.
For those tracking the backbone of Web3 connectivity, $WCT is a token worth watching closely.
