《Wow, He Issued a Token (WCT)》
WCT is a new token recently listed on Binance and OKX, and it is the token for the WalletConnect project.
Regarding WalletConnect, you might be more familiar as a Web3 developer since it is a foundational protocol that, as the name suggests, relates to connecting wallets.
How can we better understand this? We can compare it to Bluetooth and WiFi protocols. Bluetooth and WiFi facilitate communication between hardware like phones and computers.
WalletConnect does the same for communication between wallets and Dapps; this communication protocol has become very mature and unified within the Web3 industry.
When I program Dapps and need to call the wallet, I also use WalletConnect functions to implement it.
Such a basic and straightforward protocol has issued a token; why issue a token?
Silly, it’s obviously to make money, oh no… for “decentralization.”
Based on our analysis from yesterday, we can categorize WCT as a utility token, and the economics of utility tokens fit the logic of
“using tools to pay with tokens and staking tokens to earn rewards.”
Now let's look at WCT:
Token Generation: A total of 1 billion tokens directly written in the code
Token Utility: Not currently used as a means of actual payment (can be discussed later), but as a service node, a minimum of 100,000 tokens must be staked. Staking can yield new tokens, individuals, service nodes, and wallets can all stake.
Token Inflation: The initial unlocking period has a high inflation rate, and it is uncertain after unlocking is completed.
Distribution:
- 18.5% for airdrops
- 18.5% for the team
- 27% for the foundation (4% for Binance launchpool)
- 7% for core developers
- 17.5% for future staking rewards.
- 11.5% for early supporters (VC)
Among these, the team, core development, and VC will be locked for 4 years, while the foundation will have discretionary control.
It's not easy to crash, official sources, can you tell us if Team, Core Development, and WalletConnect Foundation are all “insiders”?
“If we are all insiders, then what? Come at me, you fool!”
In a bad market, everyone is issuing tokens; WalletConnect issuing a token is no less significant than the token issuance by the Fox Wallet.
