1. Launchpool listing details
Token name: WalletConnect (WCT)
Total token supply: 1,000,000,000 WCT
Maximum token supply: 1,000,000,000 WCT
Initial circulation: 186,200,000 WCT (18.62% of total token supply)
Total Launchpool: 40,000,000 WCT (4% of maximum token supply)
Learn and earn activities (distributed in batches): 10,000,000 WCT
Smart contract details: OP Mainnet, 0xeF4461891DfB3AC8572cCf7C794664A8DD927945
Research report: WalletConnect (WCT) (will be listed within 24 hours of this announcement)
Listing fee: 0
Restriction terms: KYC required
Individual hourly reward cap:
BNB pool: 35,416 WCT
FDUSD pool: 2,083 WCT
USDC pool: 4,166 WCT
2. Project overview
The WalletConnect network is a decentralized infrastructure for wallets to connect to applications on any blockchain. This service is available across all blockchains and platforms, providing an optimal on-chain user experience without being limited by user preferences.
The provided solutions can be divided into three parts:
- A network that operates across multiple node operators to relay messages between them;
- SDK, providing a simple developer experience;
- WalletConnect leads all applications, wallets, and blockchain-compatible standards.
3. Product status
Current use cases of the product
1) Staking
- Node operators must stake to participate in the network, and token holders can stake to secure the network and participate in governance.
2) Governance participation
- Token holders can vote on protocol proposals and changes to network parameters
- Performance-based node and wallet rewards
- Nodes and wallets earn WCT based on uptime, connections processed, and service quality metrics
3) Planned/potential future use cases
- Network fee payment
- Incentivizing community-driven UX improvements
- Seasonal wallet selection voting
- Test program access rights
- Partnership with apps for early access
- Staking rights for participation in the App certification program
4) Governance of the WalletConnect certification program standards
- The WalletConnect network provides a globally distributed network with high throughput and low latency, relying on encrypted messages from different clients. These clients, especially applications and wallets, can connect to create sessions, public wallet accounts, and sign transactions.
- The high-level network architecture consists of gateway nodes that can handle load balancing and routing of these messages, while service nodes are operated by 16 different entities globally, capable of caching these messages and providing them in real-time.
Key highlights of the project:
- The project has generated approximately 275 million connections
- Approximately 45 million users
- Approximately 100 million WCT tokens are staked
- The WalletConnect network supports approximately 61,500 applications
- The WalletConnect network supports approximately 600 wallets
- There are approximately 305,000 token holders of WCT
- WalletConnect was launched about 7 years ago
4. Team introduction
Jess Houlgrave is the CEO of WalletConnect, previously Chief of Staff at Checkout.com, and co-founder and COO of Codex Protocol. She graduated from the University of Oxford.
Pedro Gomes is the founder of Walletconnect and has participated in building the WalletConnect protocol, Web3Modal, and other products. He is known as the Wallet Guy and is a staunch advocate of JSON-RPC. Previously, he worked full-stack at Connext.
Derek Rein is the CTO of WalletConnect, previously a software development engineer at Amazon. He holds a Master's degree in Computer Science from the Technical University of Munich.
5. Funding history
Reown conducted token equity financing in three rounds (2022, October 2022, and 2024) for investors. WalletConnect Limited fulfilled the token warrant in November 2024. The tokens financed through equity financing have a 4-year lock-up period, with a 25% lock-up period in the first year.
The distribution and unlocking of tokens can be referenced in the token allocation section.
6. Token economics
Initial unlocking ratio
Airdrop section
7. Secondary market performance predictions
(1) Recent performance of Binance Launchpool
Since the last Launchpool and over the past two weeks, the performance of the last three Launchpools has been mediocre, not matching the returns during the end of 2024.
(2) On-chain lending costs
Based on the on-chain lending costs, participating in this Launchpool project requires the WCT token price at launch to reach around 1.14 USD to break even.
(3) Pre-market trading pricing
The current pre-market trading price is around 0.4 USD, but the corresponding trading volume is low and can only serve as a reference.
In summary, we believe that the reasonable short-term price for the WCT token at launch is between 0.5-0.7 USD.