$WCT The full English name of the WCT cryptocurrency is WalletConnect Token, which is the native token of the WalletConnect network. Here is some information about it:
- Background and Technical Architecture: WalletConnect is an on-chain UX ecosystem that has connected over 275 million times since its inception in 2018, covering more than 600 wallets and over 61,000 applications, solving the connectivity issues in the Web3 ecosystem. WCT is rooted in the Optimism OP mainnet, achieving cross-chain communication through encrypted transmission via relay servers.
- Launch Status: Officially launched on April 15, 2025, with the initial launch on multiple major exchanges including Binance, OKX, and Bybit.
- Token Distribution and Function: A total supply of 1 billion tokens, with 27% allocated to the foundation for ecosystem development, 18.5% for airdrop incentives, and the team and early supporters holding a total of 30%. Its four main functions include governance, staking, fees, and rewards, but currently only staking and exchange trading are activated.
- Economic Model and Value Dilemma: Adopts a 'connection-as-a-service' model charged by monthly active users, transforming infrastructure services into a token economic system, but currently has low revenue and high market-to-sales ratio. Although the staking APY can reach up to 85%, 50% of the rewards come from inflation issuance, creating a 'mine-extract-sell' closed loop. As a tokenization attempt for a connection layer protocol, it faces dual competition from wallet tokens and established infrastructure projects.
