๐ What is the WalletConnect Token (WCT)?
A New Way to Make Money, Run Things, and Build on Web3
WalletConnect is already one of the most important links in Web3 since it helps wallets and applications talk to one other across chains. But now it has its own native token, $WCT
, which is a big deal.
WCT might be your way to help shape the future of Web3 if you want to do more than simply watch it grow.
What Does WCT Really Do?
WCT has four main jobs in the WalletConnect ecosystem:
Fees (Eventually): There won't be any fees at initially, but when the time comes, the community will determine how the network manages them. Think of a Monthly Active User (MAU) model, where you pay using WCT to have access and services.
Rewards: A large portionโ17.5% of the overall supplyโis put aside to reward those who contribute. Wallet providers, node operators, and anyone that assist make the Web3 user experience better will be paid according on how well they do.
Staking: You may stake your WCT to help the network and get rewards. The more you stake and the longer you stake, the more you make.
Governance: WCT holders have a voice. You assist steer the ship by approving budgets, upgrading protocols, and finally giving complete authority to the DAO.
๐ A Quick Look into Token Distribution
Total Supply: 1 billion WCT
18.5% goes to Airdrops, 17.5% to Rewards, 18.5% to the Team, 27% to the Foundation, and so on.
No inflation is intended, although the community might choose to alter it later.
What about airdrops and transferability?
At first, the token won't be able to be transferred, however staking and governance will be available straight immediately. Later, the community will vote on when WCT may be completely transferred.
๐ญ Last Thoughts
WCT is not merely another token for governance. It's a way to make Web3 better by making it easier to use, more decentralized, and more involved with the community. WCT provides you the ability to go from being a passive user to an active contributor.