The Wallet Connect Token (WCT) is the native token of the WalletConnect Network, a protocol that allows users to connect their cryptocurrency wallets to decentralized applications (dApps) across multiple blockchains. WCT plays an essential role in powering the onchain user experience (UX) ecosystem by supporting key functions such as staking, governance, rewards, and fees. It is designed to incentivize participation and secure the network, enabling users, apps, and wallets to contribute to the growth and decentralization of the WalletConnect Network. The token is launched on Optimism’s OP Mainnet, leveraging Ethereum’s security and Optimism’s speed for efficient transactions WalletConnect Network.
Key Functions of WCT
Staking: Users can stake WCT tokens to earn rewards and participate in securing the network.
Governance: WCT holders can vote on proposals, influencing the development and direction of the WalletConnect Network.
Rewards: Node operators, wallets, and SDKs earn WCT by supporting the network’s performance and security.
Fees: WCT facilitates fee structures within the ecosystem, ensuring its sustainability WalletConnect Network.