WalletConnect (WCT) serves as the core communication protocol for Web3, and its airdrop plan, launched in 2024, has become an important opportunity for early contributors to gain excess returns. Through multiple rounds of token distribution, active users, developers, and ecosystem builders have received tens of millions of WCT rewards, with some participants earning over a million dollars. This article will analyze from three dimensions: airdrop mechanism, early contributor returns, and future insights.

1. Airdrop mechanism: Tiered rewards linked to historical contributions

@WalletConnect Airdrop distribution strictly follows the 'contribution first' principle, mainly covering two groups:

• End users: Tokens are distributed based on on-chain behavior such as the number of historical connections to DApps and transaction signature frequency. For instance, the first round of airdrops (September 2024) distributed 50 million WCT to active users, with snapshots covering on-chain activities from June to September 2024.

• Ecosystem builders: Including developers (such as submitting GitHub code), node operators, wallet vendors, etc. For instance, contributors who develop the WalletConnect toolkit (SDK) or participate in CAIP/EIP proposals can receive an additional 20% of the total airdrop amount (approximately 20 million WCT).

Token distribution adopts a 'multi-season' model, gradually launching special rewards such as the Solana ecosystem airdrop (5 million WCT) after the first round, further expanding the coverage.

2. Early contributor returns: From hundredfold returns to ecosystem dividends

• User level: High-frequency interactors earn significantly. For example, a user completed over 1,000 WalletConnect connections through MetaMask, earning 12,000 $WCT , which, at the initial price of $0.55 after OKX went live, is worth over $6,600.

• Developer level: Open-source contributors receive higher rewards. An engineer involved in the core development of the protocol received 50,000 WCT in airdrops for submitting multiple PRs, with a peak value of $27,500.

• Node and wallet vendors: Relay node operators achieve an annualized return of 85% by staking WCT and maintaining network stability, while also enjoying airdrop bonuses. For example, the Rainbow wallet received a quarterly reward of 500,000 WCT for optimizing mobile connection speed.

3. Future insights: Optimization and risks of airdrop strategies

• Long-term value capture: Early airdropped tokens are not transferable at the beginning and must unlock liquidity through staking or governance voting. For example, after WCT was issued on the Optimism chain, the staking APY once exceeded 300%, attracting users to hold long-term.

• Risk warning: Some participants failed the anti-sybil detection due to blindly interacting, resulting in disqualification. Additionally, the token price fluctuated wildly, dropping from $0.55 to $0.2 after OKX went live, so arbitrage should be approached with caution.

Conclusion

#WalletConnect Airdrops create substantial benefits for early participants through precise contributor screening and multi-chain expansion. In the future, with the decentralization of governance and the implementation of fee models (such as WCT payment for relay services), the long-term value of airdropped tokens may become more pronounced. This case also provides a model for Web3 projects to incentivize ecosystem building—true rewards always belong to deep participants.