$WCT $WCT

What Is WalletConnect?

WalletConnect is an onchain UX ecosystem that enables users to connect their crypto wallets to dApps, regardless of whether users are on web or app. Its inception in 2018 solved a longstanding connectivity problem for the web3 ecosystem, making the network a long-used and critical piece of today’s onchain infrastructure. It connects user wallets to decentralized applications through deep linking and encrypted QR codes, where users scan the WalletConnect QR code to connect their wallet to dApps. WalletConnect facilitates the connection between wallet and dApp by obtaining application requests, and relaying them to the user’s wallet for approval, while protecting user data with end-to-end encryption while enabling seamless transactions.

The WalletConnect Network is fully chain agnostic. As the WalletConnect Network scales, it is moving to a fully permissionless model, and its native token, the Connect Token (WCT) will power governance, staking, rewards, and future fee structures after launch.

What Is WCT (Connect Token)?

The Connect Token is the native token of WalletConnect Network. According to the project, the WCT token will power the on-chain UX ecosystem and act as a reward and governance token. The WCT token will be minted on Optimism, a Layer 2 EVM-equivalent network on Ethereum, drawing on Optimism’s speed and Ethereum’s security.

The supply of WCT is capped at 1 billion; 27% of the total supply will be reserved for the WalletConnect foundation while 18.5% will be distributed via airdrop to users and contributors who meet the requirements.