#BinanceAlphaAlert The WalletConnect Token (WCT) is the native governance and utility token of the WalletConnect Network, designed to enhance the on-chain user experience (UX) ecosystem. Launched on the Optimism (OP) Mainnet, WCT aims to decentralize the network's operations and empower its community through various functionalities.
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🔑 Key Functions of WCT
1. Governance: WCT holders can propose and vote on network upgrades, fee structures, and strategic initiatives. On-chain governance is set to launch in Q2 2025, allowing token holders to shape the future of WalletConnect.
2. Staking: Users can stake WCT tokens for periods ranging from one week to two years. Staking rewards are distributed weekly, with each reward period starting and ending on Thursday. To qualify for staking rewards in a given week, your staking position must meet two criteria: it must have started before Thursday 00:00 GMT of that week and must have at least one week remaining in the lock period.
3. Rewards: WCT tokens are distributed as rewards to incentivize participation and contribute to network security and efficiency.
4. Fees: Initially, the network will not charge fees. However, token holders will have the ability to vote on fees being charged for network services such as relay usage and other future services.
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📊 Tokenomics
Total Supply: 1 billion WCT tokens
Allocations:
Core Development: 7%
Rewards: 17.5%
Airdrops: 18.5%
Team: 18.5%
Backers: 11.5%
WalletConnect Foundation: 27%
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📈 Current Market Data
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🚀 Airdrop Information
WCT tokens were distributed through airdrops, with eligibility determined based on factors such as past connections via the WalletConnect Network, signatures,
on-chain activity, and software contributions.
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