#WalletConnect $WCT @WalletConnect

Protocol: WalletConnect is an open-source protocol that enables secure communication between cryptocurrency wallets and decentralized applications (DApps). It acts as a bridge, allowing users to connect their wallets to various Web3 applications (DeFi, NFTs, DAOs, etc.) by scanning a QR code or clicking a deep link, without exposing their private keys.

Purpose: It aims to simplify and secure interactions within the Web3 ecosystem, making it easier for users to manage their funds and participate in decentralized activities across multiple blockchains (like Ethereum, Solana, Bitcoin, Polkadot, Cosmos, and Optimism where WCT is an ERC-20 token).

WCT Token: The WCT is the native utility and governance token of the WalletConnect protocol. Its uses include:

Staking: Users can lock WCT tokens to earn rewards and contribute to network security.

Governance: Token holders can vote on protocol upgrades and fee structures, giving them a say in the project's future.

Node Incentives: Node operators are rewarded in WCT for maintaining network reliability.

Future Fees: WCT may be used for transaction fees within the ecosystem, subject to governance approval.