Rhe @WalletConnect Token ($WCT ) is the native utility token of the #WalletConnect Network, designed to enhance governance, staking, and community participation within the decentralized ecosystem.
Overview of WalletConnect Token (WCT)
The #WalletConnect Token (WCT) is the native token of the #WalletConnect Network, which facilitates secure connections between #cryptocurrency wallets and decentralized applications (dApps). Launched in 2024, WCT plays a crucial role in the network's decentralization roadmap, empowering users, apps, and wallets to contribute to a better on-chain user experience through shared incentives and governance 1.#Write2Earn
Key Functions of WCT
WCT serves several essential functions within the @WalletConnect ecosystem:
Governance: $WCT holders can participate in decision-making processes, voting on proposals that shape the future of the network, including protocol upgrades and fee structures 2.
Staking: Users can stake their $WCT tokens to secure the network and earn rewards. Staking rewards are distributed based on the amount staked and the duration of the lock-up period, encouraging long-term commitment 2.
Rewards: A portion of the total WCT supply is allocated for rewards to incentivize active participation in the network. This includes rewards for node operators and wallet providers based on their performance metrics 2.
Future Fees: While currently, @WalletConnect does not charge fees, WCT may be used for transaction fees in the future, depending on community governance decisions #SwingTradingStrategy
