Hello everyone, I'm your familiar little hamburger. Today, I will take you to understand the 'eye-catching bag' in the Web3 world @WalletConnect: the blue logo is everywhere!
In this fascinating new world of Web3, if you've connected to a Web3 application, you definitely have an impression of WalletConnect.
Its blue logo is particularly eye-catching and can be seen everywhere in the cryptocurrency circle; no matter where you are in the crypto world, you can spot it at a glance.
It's like when we usually check out while shopping; we can easily see the Visa logo, which everyone is so familiar with and trusts. WalletConnect is determined to make itself 'everywhere', making a strong presence in the Web3 world. Let's take a look at this 'eye-catching bag' together with little hamburger!
1. The Business Logic Behind the $WCT Token
In a decentralized network, WalletConnect has created a super-active ecosystem. This ecosystem is supported by 16 node operators and is connected to hundreds of wallets built on its platform. Its core idea is to allow users to freely choose their wallets, breaking the limitation of using only one wallet, and providing users with a different new experience.
The WCT token is crucial within the entire ecosystem, playing a key role in profit sharing.
On one hand, through an innovative token staking mechanism, it lays a solid foundation for the security of the entire network like a strong cornerstone.
On the other hand, it has carefully constructed a complete reward distribution system: node operators receive corresponding rewards based on their performance, akin to installing a powerful engine for them, incentivizing them to continuously optimize services; wallets are incentivized based on the number of users they bring, encouraging wallets to actively expand their user base.
It is worth mentioning that in future plans, the WalletConnect network will implement a fee mechanism. Application developers will need to pay a fee for every new user acquired from the network, and these fees will be reasonably distributed to node operators and wallets, further strengthening the profit-sharing model and promoting the collaborative development of all participants in the ecosystem.
Now, WalletConnect has enabled smooth interaction for tens of thousands of DApps and over 600 wallets. Connection counts have exceeded 275 million, and the number of users served has surpassed 45 million.
The Development Process:
In 2023, 7.2 million users achieved 41 million connections through it.
In 2024, this number surged to 31 million users completing 179 million connections. The number of connections grew by 4.4 times, the number of wallets grew by 4.3 times, and the number of DApps also doubled.
In 2025, the growth momentum remains strong. Just in the first quarter, the total number of connections quickly rose from 256 million in February to 274 million in March.
In March alone, it achieved 1.8 billion monthly active wallet connections, with the number of monthly active wallets growing by 27% compared to the same period last year, indicating that the market demand for it is increasing.
2. Importance in the DeFi Ecosystem
In the DeFi circle, many applications work smoothly on computers but not on mobile phones. WalletConnect is different; it does not discriminate against platforms and can be used with various wallets, compatible with both iOS and Android phones, allowing DeFi applications to run smoothly on mobile devices.
WalletConnect also has a new smart session feature that makes DeFi more automated. Users can set their preferred strategies, and operations like liquidity provision and trading in DeFi can be completed automatically, helping users come up with better methods and making the DeFi ecosystem more efficient and intelligent.
3. Community Sales
After WalletConnect launched on Gate, it specifically held two rounds of community sales. This was not to lower prices but to allow everyone in the community to participate. During the project's development, there were many private supporters, and we also airdropped tokens to them, making them holders.
Additionally, they held many activities together with wallet partners. However, many community members still wanted to participate, so WalletConnect specifically organized community sales, pricing them at 20 cents to give these members a chance to become early investors. This move is quite rare in the market; many projects did not think to do this.
Currently, sales activities on Coinlist and Bitget have attracted over a million participants, proving that this method is effective in promoting WalletConnect's tokens and expanding the community. At this rate, the WCT token is likely to become one of the most valuable tokens in the market.
Moreover, WalletConnect has received support from globally renowned node and infrastructure providers such as Consensys, Ledger, Figment, Everstake, and Nansen. This not only boosts the project's development but also continuously improves its network in terms of scalability, security, and decentralization.
4. Unique Functional Advantages of WalletConnect
(1) Use one wallet to connect all blockchain applications, convenient and efficient.
Previously, using wallets was particularly troublesome, requiring separate setups for different wallets. Now with WalletConnect, one connection can handle all wallets, relieving users from this headache, simplifying operations, and improving efficiency, saving both time and effort.
(2) Usable on various platforms and devices.
No matter the platform, whether it's iOS or Android on mobile, or computers, smartphones, smart TVs, cars, or even ATMs, WalletConnect can be used as long as there is a screen. No matter where or what device is used, users can conveniently utilize WalletConnect, with many application scenarios available. Whether in a car on the way to work, watching TV at home, or using an ATM, users can easily use WalletConnect.
(3) Cross-chain, supporting multiple blockchains.
In terms of blockchain compatibility, WalletConnect is very user-friendly and does not discriminate against platforms. Whether it's Ethereum, Solana, Bitcoin, Teslas, or Polk blockchain protocols, it supports them all. Regardless of which blockchain technology is used, it can be normally utilized within WalletConnect, allowing users to choose whichever chain they want based on their needs and preferences, which is particularly convenient.
5. Future Development Directions and Function Upgrades of WalletConnect
Over the past year, the project team has been fully focused on the global promotion of WalletConnect. Nodes have been built in Asia, Europe, the United States, Latin America, and other regions, extending the service network worldwide, allowing users to connect and use it anytime, anywhere. In terms of the blockchain ecosystem, they have already connected many chains and plan to connect more in the future, expanding the ecosystem's landscape.
In terms of functional optimization, the most pressing task now is to simplify the authorization steps when connecting wallets. Currently, users must confirm authorization 2 to 3 times, sometimes even 4 to 5 times when connecting wallets and sending transactions, making the process cumbersome. WalletConnect will optimize the underlying protocol to simplify these steps into a single authorization, making it as convenient as 'one-click login' on the internet, significantly improving transaction efficiency.
6. WalletConnect Community-Driven Model and Future Development
In terms of attracting investment and engaging the community, WalletConnect is also remarkable. During the CoinList community funding round, participation was so enthusiastic that the subscribed funds were 4 times the planned amount, with over 18,000 participants locking in a total of 15.5 million dollars. The private placement on the Echo platform was even faster, raising 500,000 dollars in just 11 seconds. The Bitget LaunchX community round was also extremely popular, with 4 million dollars worth of shares snapped up in just 2 hours, involving 67,000 participants who collectively subscribed to 326 million dollars.
WalletConnect aims for globalization, universality, and inclusivity.
With the WCT token, it has achieved decentralization not only in technology but also allows the community to participate in decision-making. Unlike traditional models where decisions are made by one company, WalletConnect is built by many enterprises together. Moreover, through various activities and airdrops, over 300,000 individuals now hold its tokens; more than 106.5 million WCT tokens have been staked, and this number continues to grow rapidly, with the community size expanding and developing exceptionally well.
The WalletConnect Foundation aims to assist developers in building on its platform, aiming to achieve a global presence similar to Visa, enhancing the user experience in the wallet and cryptocurrency domain.
After seven years of hard work, just to open a new chapter in the future of the Web3 world.
When WalletConnect first launched the QR code connection protocol, it was merely a connection tool. After seven years of development, it has now become an important infrastructure for Web3, supporting cross-chain operations with millions of users. It is not just a tool but a decentralized global platform.
The launch of $WCT endowed this connection network with economic value and encouraged more people to participate in community building.
WalletConnect simplifies the authorization process, advances account automation, builds a node network, and achieves inter-chain connectivity, aiming to become the Visa of the Web3 world.
Whether you are a developer, an old user, or a newcomer, you can easily start your Web3 journey with WalletConnect and WCT.
WalletConnect is currently experiencing rapid development and is steadily progressing towards its great goal: to establish an indispensable and universally applicable status in the Web3 world, akin to Visa. Let's look forward to its next seven years together!