The WCT token is the native utility token of the WalletConnect ecosystem, an open-source protocol crucial for connecting cryptocurrency wallets with decentralized applications (dApps). Essentially, WalletConnect enables seamless and secure communication between your wallet and various Web3 platforms.
The WCT token, often an ERC-20 token deployed on networks like Optimism, serves several key purposes within its ecosystem. It facilitates governance, allowing token holders to participate in decisions regarding protocol upgrades and fee structures. Additionally, WCT supports staking, where users can lock their tokens to earn rewards for contributing to network security and operations. This dual functionality highlights WCT's role in both community oversight and incentivizing network participation.
