Here are the top five reasons to consider investing in WCT:
1. What is WCT?
WCT is the native token of the WalletConnect network, a decentralised protocol that enables communication between digital wallets and decentralised finance applications (dApps) without the need for a central authority. This token is used for governance, staking, and rewards within the system. As of April 15, 2025, WCT is fully transferable.
2. Decentralised Governance
WCT holders can participate in important decisions related to protocol updates, network fees, and the distribution of rewards. The process for governance is conducted through discussions on the Discourse platform, followed by voting on Snapshot. Over time, the project aims to transfer control from the WalletConnect Foundation to a decentralised community represented by professional councils and partnerships.
3. Staking and Rewards
Staking began on November 26, 2024, with the first reward distribution taking place on December 19, 2024. The weight of your stake is determined by a formula that considers both the number of tokens and the duration of the lock. The more tokens you stake and the longer you lock them, the greater your influence in governance and your rewards. Staking rewards are distributed weekly on Thursdays, and you can adjust your stake by renewing the lock or adding more tokens. Some platforms also offer the chance to stake outside of the WalletConnect protocol.
4. Future Fees
Currently, the WalletConnect network does not charge any fees, but there is the potential for fees to be introduced in the future. These would be decided by the community through governance voting. The goal of these fees would be to ensure the long-term financial sustainability of the network, without relying on centralised entities.
5. Transferability and Web3 Impact
While WCT was initially non-transferable, it became fully tradable starting in April 2025, after meeting governance and stability requirements. WalletConnect itself is an open-source protocol that enables seamless and secure connections between wallets and DeFi applications via QR codes or deep linking, without needing additional browsers. With support for over 600 wallets and 40,000 applications, WalletConnect plays a vital role in the Web3 ecosystem, making WCT a potentially valuable asset for those looking to support this growing digital space.
As always, make sure to conduct your own research before making any investment decisions.