This infrastructure, known as the 'Web3 Operating System', how does it achieve the leap from a technical tool to a value carrier through a single token? Let us explore the four core functions of WCT and the latest developments in the ecosystem.
In-depth analysis:
1. Value capture at the protocol layer: from free services to an economic closed loop
The birth of WCT marks a qualitative change for WalletConnect from an open-source protocol to a decentralized network. Through four major functions—fees, rewards, staking, and governance—WCT has constructed a sustainable economic model:
◦ Relay node payment mechanism: Developers can obtain network services, such as cross-chain message relaying, by staking WCT. This design enables the protocol to possess **'pay-per-use' revenue capability** for the first time.
◦ Dynamic staking system: Users who lock WCT can gain governance weight and future revenue sharing; the longer the lock-up period (from 1 week to 2 years), the higher the reward coefficient. This design incentivizes long-term holding while providing liquidity assurance for network security.
2. Technological leap: from interoperability tools to a programmable ecosystem
With the full rollout of WalletConnect v2.0, the application scenarios for WCT have been infinitely expanded:
◦ Multi-chain concurrent connections: Users can connect to 15 chains, including Ethereum, Solana, and Cosmos, simultaneously. DApp developers no longer need to adapt wallet interfaces for each chain individually; this breakthrough makes cross-chain DeFi aggregators and full-chain games possible.
◦ JSON-RPC permission management: Users can finely control the operation permissions of DApps (such as allowing only account balance reading and prohibiting transaction sending). Combined with zero-knowledge proof technology, WCT is constructing a **'privacy-first' interaction paradigm**.
3. Ecosystem explosion: from technical infrastructure to a developer paradise
Recent ecosystem dynamics confirm the attractiveness of WCT:
◦ Strategic layout of Binance Launchpool: Users can mine WCT by staking assets like BNB and FDUSD. This activity not only brought over 100,000 new users to WCT but also increased the daily connection volume of DApps on the Binance chain by 300%.
◦ Deep integration with Safe smart accounts: By integrating Safe's multi-signature feature, WCT holders can create a **'social recovery wallet'. If a private key is lost, the account can be recovered with signatures from 3 out of 5 friends. This innovation has been adopted by 12 Web3 social protocols**.
