#WalletConnect
WalletConnect is an open-source protocol that enables secure connections between decentralized applications (DApps) and web3 wallets. It facilitates user interactions with blockchain applications by allowing wallet users to approve connection requests easily.
**Key Features of WalletConnect**
- **Simplified Connection**: WalletConnect streamlines the process of connecting DApps to supported web3 wallets, enhancing user experience.
- **Bridge Functionality**: It acts as a bridge, allowing seamless communication between DApps and wallets, ensuring secure transactions and interactions.
- **User Approval**: Users must approve connection requests, providing an additional layer of security and control over their interactions with DApps.
- **Decentralized Nature**: The protocol is designed to maintain the decentralized ethos of blockchain technology, allowing users to interact without relying on centralized intermediaries.
**WalletConnect Token (WCT)**
- **Current Price**: The live price of WalletConnect Token (WCT) is $0.332506 USD, with a market cap of approximately $61.9 million.
- **Circulating Supply**: There are currently 186,200,000 WCT coins in circulation out of a maximum supply of 1 billion.
- **Tokenomics**: The initial supply is capped, and the model focuses on existing allocations and fee structures without planned inflation for sustainability.
- **Governance and Staking**: WCT holders can participate in governance by voting on proposals and can stake their tokens to earn rewards.
**Market Performance**
- **24-Hour Trading Volume**: The trading volume for WCT in the last 24 hours is around $83.7 million.
- **Market Ranking**: WalletConnect Token is currently ranked #448 on CoinMarketCap, reflecting its position in the broader cryptocurrency market.
**Future Developments**
- **Unlocking Features**: Governance and fee features are expected to be unlocked in the near term, enhancing community engagement and network functionality.
