#WalletConnect $WCT @WalletConnect
Executive Summary
WalletConnect is an open protocol for connecting wallets to dApps, enabling secure session management without exposing private keys. It is the most widely adopted wallet connection standard in Web3.
Mission: seamless, secure, multi-device wallet connectivity for millions of users and thousands of dApps.
Market Need & Vision
Wallet fragmentation in Web3 is a UX nightmare — different wallets require custom integrations, and mobile-to-desktop bridging is clunky.
WalletConnect solves this by:
Creating a universal connection protocol that works across wallets.
Providing a mobile-friendly, QR-code-based flow for instant access.
Supporting multiple blockchains under one integration standard.
Technology & Architecture
Relay Server Network: Manages encrypted communication between wallet and dApp.
Session Keys: Temporary keys used for signing, reducing main key exposure.
Multi-Chain Support: One connection can support multiple chains simultaneously.
Features & Innovations
Push Notifications: Transaction prompts and dApp messages.
Multi-Session Support: One wallet can manage multiple dApps at once.
Cloud Backup: Optional encrypted storage of session data.
Ecosystem & Partnerships
Supported by MetaMask, Trust Wallet, Rainbow, and hundreds more.
Integrated into OpenSea, Uniswap, and most major dApps.
Tokenomics & Value Flow (WCT)
Network Fees: dApps pay for usage of the relay network.
Governance: Protocol upgrades and fee parameters.
Incentives: Relay node operators earn WCT for uptime.
Use Cases
NFT Marketplace: Users connect mobile wallets via QR scan.
Cross-Chain dApp: Single connection handles multi-chain actions.
DeFi Trader: Manage trades from mobile wallet while using desktop UI.
Competitive Landscape
Faces competition from direct wallet SDKs but remains the default standard for wallet-dApp connections.
Risks & Challenges
Protocol Centralization: Relay network still has central elements.
Revenue Model: Historically free, now shifting toward monetization.
Strategic Outlook
WalletConnect’s dominance as a connection standard positions it to expand into authentication, payments, and messaging.
Investor Takeaway
WCT could capture value from the growing number of Web3 connections as dApps multiply and multi-chain usage becomes the norm.
