What is ($\u003cc-13/\u003e)\u003ct-15/\u003e
It makes it easy to connect cryptocurrency wallets to decentralized applications using QR codes or deep links, keeping users in control without exposing private keys or relying on browser extensions.
The protocol supports a wide range of blockchain networks, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin.
The WalletConnect ecosystem features WCT as its native utility token, which can be used for staking, governance, and earning rewards.
What is WalletConnect?
WalletConnect is an open-source protocol that facilitates cryptocurrency wallets connecting to decentralized applications (DApps). Instead of relying on browser extensions or copying and pasting wallet addresses, WalletConnect allows you to link your wallet to a decentralized application by quickly scanning a QR code or deep link. WalletConnect works across multiple blockchains and aims to make Web3 more user-friendly and secure.
WalletConnect was originally created to address fragmented and vulnerable interactions between DApps and wallets, and it has evolved into a protocol and network supporting millions of users and thousands of applications.
How WalletConnect Works
Essentially, WalletConnect acts as a connection layer that allows wallet applications to interact with decentralized applications without exposing sensitive information, such as private keys.
The protocol supports encrypted messaging over a session created by scanning a QR code or clicking a deep link. Once connected, users can approve or reject transactions directly from their wallets, which remain under their full control throughout the session.
WalletConnect supports multiple blockchain networks, including Ethereum, Solana, Cosmos, Polkadot, and Bitcoin.
WalletConnect is built on three main components:
The network: It is the system of nodes that relay messages between your wallet and the application you are using. These nodes operate different groups to maintain decentralization.
Software Development Kits (SDKs): Developers use WalletConnect SDKs to add connection features to their wallets and decentralized applications. SDKs handle all technical aspects related to operations.
Standards: WalletConnect uses standard rules for how messages are sent and received, making it easier for apps and wallets to work together seamlessly.
WCT Token
WalletConnect has its own token, WCT. It is an ERC-20 token with a total supply of one billion tokens. WCT was launched on the Optimism network and is used for various purposes within the WalletConnect ecosystem:
Governance: WCT holders can help determine how the network evolves, from protocol upgrades to fee structures.
Staking: Users can stake WCT tokens to help secure the network and earn rewards. The duration of staking ranges from one week to two years, with incentives increasing with the length of commitment.
Performance-Based Rewards: Node operators and wallet providers in WCT are rewarded based on metrics such as uptime, latency, and the number of successful connections they facilitate.
Future Fees: While WalletConnect currently does not impose fees, WCT may be used for transaction fees later if the community votes in favor.
WCT is an ERC-20 token with a total supply of 1 billion tokens.
WCT on Binance Launchpool
On April 10, 2025, Binance announced WCT as project number 67 on the Binance Launchpad. Users who staked their BNB, FDUSD, and USDC during the farming period were eligible to receive WCT rewards. A total of 40 million WCT was allocated for the program, representing 4% of the total token supply.
After the farming period, WCT was listed for trading on Binance with a Seed token application, allowing trading against USDT, USDC, BNB, FDUSD, and TRY pairs.
Wallet Guide and Certification
The WalletConnect team also manages the WalletGuide project, which reviews and lists wallets that meet certain quality and security standards. Wallets can obtain certifications, increasing their trustworthiness among users and developers.
Adoption and Growth
WalletConnect has seen widespread adoption since its launch. According to its website, the project has conducted over 240 million connections to serve more than 38 million active and unique wallets. The protocol has been integrated into over 57,000 decentralized applications, demonstrating its utility and compatibility with the Web3 environment.
Funding and Development
The WalletConnect Foundation raised $10 million through four consecutive token sales, with demand exceeding the available supply. These funds will enable the WalletConnect Foundation to expand its operations, grow its team, and support ecosystem initiatives, benefiting developers, node operators, and strategic partners.
Closing Thoughts
WalletConnect started as a simple way to connect wallets to decentralized applications, but it has evolved into a comprehensive ecosystem with its tokens, governance system, and its own network infrastructure. With support for multiple blockchains and a strong user base, the project enables secure and efficient communication across multiple Web3 platforms.
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