WalletConnect is a secure connection protocol between cryptocurrency wallets and decentralized applications (dApps), supporting over 23 million users and 40,000+ integrated dApps, providing a multi-chain, multi-platform, and highly secure Web3 experience.
WalletConnect operates by encrypting end-to-end connections between wallets and dApps via QR codes or deep links without storing user private keys. The system provides a comprehensive product suite for network development and governance with the WCT Token supporting staking and decentralized governance.
MAIN CONTENT
WalletConnect is a decentralized protocol that supports multi-chain, securely connecting wallets and dApps via QR codes.
WCT is the governance token, staking, and service payment of the WalletConnect network on Optimism Layer-2.
The project owns a product suite including SDK, Web3Modal, Relay Network, and an ecosystem of over 40,000 dApps.
What is WalletConnect and why is it important in the Web3 ecosystem?
WalletConnect is described by CEO Jess Houlgrave as "the foundational UX infrastructure for multi-chain, multi-platform experiences that allow users to access Web3 smoothly and securely." This protocol enables linking cryptocurrency wallets with dApps without needing to share private keys or seed phrases.
Launched in 2018 by Pedro Gomes, WalletConnect now has over 600 wallets and 40,000 integrated dApps, serving over 23 million users worldwide. It creates decentralized connections, end-to-end encrypted on both desktop and mobile.
How does WalletConnect work to ensure safety and convenience?
WalletConnect acts as an intermediary bridge for secure and encrypted connections between wallets and dApps through QR code scanning or deep links. Users do not enter private keys directly but confirm transactions on their wallets.
The process consists of 4 steps: Users select 'Connect Wallet' on the dApp, scan the QR code with a WalletConnect-supported wallet, approve the connection in the wallet, and then all transactions are encrypted and confirmed via a peer-to-peer connection.
"By not storing any private keys and securing with end-to-end encryption, WalletConnect ensures that users always have complete control over their assets." – Jess Houlgrave, CEO of WalletConnect, 2025
Source: Interview with the CEO of WalletConnect, 04/2025
What are the main products of WalletConnect?
WalletConnect provides an ecosystem of products serving both users and developers, enhancing Web3 connection and security experience.
WalletKit SDK
The SDK toolkit supports multiple blockchains, helping wallet developers quickly integrate connection, authentication, and session management features.
Web3Modal
A popular modal interface allows users to easily connect wallets to dApps, supporting hundreds of wallets like MetaMask, Trust Wallet.
Push Protocol
The push notification system provides real-time alerts for transactions and important events to users.
Relay Network
The encrypted node network links and routes data between wallets and dApps, ensuring maximum efficiency and security.
WalletConnect Explorer
The lookup tool helps users find compatible wallets and dApps, enhancing DeFi, NFT, and Gaming experiences.
What is the WCT Token and what are its tokenomics characteristics?
WCT is the native token on Optimism Layer-2, used for staking, decentralized governance, and service fee payments, building a complete economic network.
Detailed Information Token Name: WalletConnect Token Symbol: WCT Total Supply: 1,000,000,000 WCT Blockchain: Optimism (Layer-2)
WCT Token Allocation
Tokens are distributed for core development 7%, rewards 17.5%, community airdrop and team each 18.5%, initial investors 11.5%, and WalletConnect Foundation 27%.
Detailed WCT Token Allocation
Token Distribution Schedule and Benefits
The team's and investors' tokens are locked for 4 years with a 1-year cliff from the Token launch (TGE). Airdrops are released seasonally from the launch and continue for several years.
WCT supports staking rewards, governance voting upgrades, relay service payments, and encourages active developers.
Where is WCT currently stored and on which exchanges is it traded?
WCT can be securely stored in wallets like Bitget Wallet, MetaMask via Optimism, Trust Wallet, and other wallets like Rainbow, Zerion, Coinbase Wallet.
The token will be listed on Binance Launchpool and officially traded from 6 PM on April 15, 2025, opening up opportunities to access significant capital in the market.
What are the highlights of the WalletConnect development roadmap?
WalletConnect launched its network and airdrop season 1 in Q3/2024. Q4/2024 focuses on staking and decentralized governance on-chain. In 2025, it plans to expand the SDK, support Web3 messaging, and increase decentralization.
Who is behind WalletConnect?
WalletConnect was founded by Pedro Gomes in 2018. CEO Jess Houlgrave leads the strategy for expanding a global decentralized network. CFO Yessin Schiegg, a former Ethereum Foundation member, manages finances and DAO structure.
Which organizations invest in and collaborate with WalletConnect?
WalletConnect attracts funding from Coinbase Ventures, Union Square Ventures, Polygon Ventures, Jump Crypto, Shopify, Consensys, and Placeholder VC.
Strategic partners include MetaMask, Uniswap, Bitget Wallet, ENS, and Opensea, strengthening the ecosystem and growing the community.
"WalletConnect is striving to make the Web3 user experience friendlier, safer, and more comprehensive than ever before." – Pedro Gomes, Founder of WalletConnect, 2025
Statement at the Web3 Global Summit, 04/2025
What are the projects similar to WalletConnect?
RainbowKit – Centralized wallet connection SDK for React.
Web3Modal – A UI layer that supports wallet connections, part of WalletConnect.
Particle Network – Wallet login solution based on Web2 accounts.
Magic.link – Decentralized login via email or phone number.
Expert opinion on WalletConnect
According to many experts, WalletConnect is not just a bridge connecting wallets and dApps but also a comprehensive Web3 UX infrastructure, laying the foundation for the future of decentralized user experience with high scalability and security.
Integrating the WCT Token with staking and governance further enhances WalletConnect's role in the multi-chain blockchain ecosystem.
Frequently Asked Questions about WalletConnect
1. Does WalletConnect store private keys?
No, WalletConnect does not store private keys but only establishes an encrypted end-to-end connection between wallets and dApps, ensuring absolute asset control belongs to the users.
2. Is there a fee for using WalletConnect?
Currently, WalletConnect is free to use but may change according to the governance decisions of the WCT community in the future.
3. Has WCT been listed on any exchange yet?
WCT Token has not opened for transfer trading as it will be managed through DAO, expected to be listed and traded on Binance Launchpool from April 15, 2025.
4. Which blockchains does WalletConnect support?
The protocol supports major multi-chain blockchains such as Ethereum, Solana, Cosmos, Polkadot, and even Bitcoin, facilitating broad connectivity for Web3 applications across multiple platforms.
5. What utilities does the WCT Token have?
WCT is used for staking rewards, decentralized governance, service fee payments, and encouraging active development within the ecosystem.
Source: https://tintucbitcoin.com/wallet-connect-wct-la-gi/
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