WalletConnect Token ($WCT ) is the native token of the WalletConnect Network, designed to enhance decentralized user experiences through staking, rewards, governance, and transaction fees.
๐ฅ Latest Updates on $WCT
Solana Integration & Airdrop: WalletConnect has expanded $WCT to the Solana blockchain, marking its third major integration after Ethereum and Optimism. As part of this rollout, a 5 million WCT airdrop, valued at approximately $3 million, is planned for active Solana users.
JupDAO Staker Rewards: JupDAO stakers on Solana will be eligible for upcoming WCT rewards, with specific criteria to be announced soon.
Token Transferability: WCT is now officially transferable, marking a pivotal moment in WalletConnect's decentralization roadmap. This move brings the on-chain economy closer to a more open, permissionless, and community-driven experience.
๐ง Key Takeaways
Utility: WCT powers the WalletConnect ecosystem, facilitating governance, staking, and transaction fees.
Adoption: The token's expansion to multiple blockchains, including Solana, indicates a growing adoption and utility across decentralized applications.
Market Position: With a current market cap of approximately $122 million and a circulating supply of 186.2 million tokens, WCT holds a significant position in the crypto market.