What is WalletConnect and the WCT token?
WalletConnect is an open-source protocol that facilitates the connection between cryptocurrency wallets and decentralized applications (DApps) using QR codes or direct links, without the need to expose private keys or use browser extensions, supported on networks like Ethereum, Solana, Polkadot, and others.
WCT is the token of the WalletConnect network and is used for various purposes within the network such as:
Fees – WCT holders can vote on the fees for using services in the network.
Rewards – WCT is distributed as rewards to contributors who help operate the network and ensure its efficient functioning.
Staking – where WCT users can stake tokens for returns and gain governance rights.
Governance – WCT allows the community to propose and vote on policies and developments of the network.