- Technology and Ecological Foundation: As the interoperability protocol WalletConnect, which popularizes the crypto world, its token has developed since 2018, accumulating over 275 million wallet and DApp connections, covering 600+ wallets and 61,000+ applications. The penetration rate of the 'connection layer' exceeds 90%. The protocol supports multiple public chains, with a 'chain-agnostic' design serving as the 'connection hub' in the Web3 ecosystem, benefiting from network effects and technical advantages.
- Token and Economic Aspects:
- Distribution and Circulation: The total supply is 1 billion tokens, with an initial circulation of 18.62%. Token distribution includes foundation, airdrops, teams, etc. Early institutional holdings have low private placement costs, and the selling pressure on the first day is concentrated. Although the circulation rate appears low, it acts as a price suppression factor, with inertia in private placement selling pressure.
- Valuation and Profitability: After going live, the circulating market capitalization and FDV (Fully Diluted Valuation) reflect the market's complex emotions towards infrastructure tokens. WalletConnect has low annual revenue but a high market-to-sales ratio, far exceeding competitors. However, if the plan for a 'tiered connection fee' model is implemented, it may optimize valuation. #Walletconnecet $WCT@WalletConnect