From Foundation to the Whole Community — @WalletConnect Decentralization Process of Governance Structure
The governance design of @WalletConnect centers on community participation, aiming to create a highly decentralized and transparent decision-making system. The overall structure of #WallectConnect mainly consists of three key roles: Foundation, Dedicated Committees, and Community, working together to promote the robust development of the network:
💰Foundation: Responsible for setting the direction for network development, promoting adoption, and driving growth, while managing grants for stakeholders to support application developers, SDK, and wallet teams.
🤖Committee: Divides functional areas, for example, the Technical Committee focuses on infrastructure and protocol optimization, while the Partnership Committee is responsible for expanding partnerships and promoting ecosystem growth.
👀Community: Conducts voting and governance through $WCT token holders, directly influencing network decisions and future directions.
#WalletConnect is in the process of transitioning to a fully community governance model, planning to gradually transfer decision-making power to $WCT holders through five transitional phases. In the future, the approval and implementation of network proposals will be entirely led by the community, achieving the vision of true decentralized governance.