WCT Series (Fifteen): The Fee Structure of the WCT Network and Future Adjustments
The fee structure of the WalletConnect network starts off quite simple: initially, there are no fees at all. This is quite considerate, especially for new users, as they won't incur additional costs just by connecting their wallets and dapps. The white paper states that applications or SDKs using relay services are free in the early stages, with the aim of promoting growth and accumulating users. After all, the network emphasizes privacy and resistance to censorship, and these costs cannot be covered by selling data; they must rely on a sustainable mechanism.
However, this will certainly change in the future. The community can introduce fees through governance voting, such as charging a small fee for each message passed, payable in WCT. This money will not fall on the users but will be borne by the application side, designed to minimize friction as much as possible. The flow of fees is as follows: after users connect, the relay facilitates communication, the fees go into a reward pool, and then are distributed to node operators and wallet providers. Nodes earn rewards based on performance, while wallets are assessed based on connection signature counts. This encourages everyone to maintain high-quality service.
Why is adjustment necessary? Operating the network incurs costs; low latency and high throughput do not come for free. Initially, it relies on the reward pool (17.5% of tokens), with only 5% released in the first year, while the remainder gradually tests assumptions. Once the ecosystem matures, fees can make the network self-sufficient, avoiding centralization risks. Governance will set parameters, such as keeping the stake reward pool ratio fluctuating between 0.25 and 0.66 to ensure balance.
I believe this flexibility is a highlight. It is not a rigid rule but rather optimized along with the evolution of the network. For instance, if transaction volumes surge, fees might be slightly adjusted to support more nodes. Ultimately, user experience comes first; fees are just a tool to make WalletConnect a truly decentralized infrastructure.
