WalletConnect is an open-source protocol that allows users to connect cryptocurrency wallets to decentralized applications (dApps) across various blockchain networks.
Launched in 2018, it supports over 600 wallets and 40,000 decentralized applications, making it one of the leading solutions in blockchain user experience.
WCT is the native token of the WalletConnect network, functioning as a governance currency, staking, rewards, and fees within the ecosystem. It aims to empower users and developers to actively participate in the network's development and decision-making.
🧱 WalletConnect Network Structure
The WalletConnect network relies on a decentralized architecture that includes over 20 node operators and supports over 700 wallets and 70,000 decentralized applications. The network operates across various blockchain networks, including Ethereum, Solana, Cosmos, Polkadot, and Bitcoin, allowing users to connect any wallet to any application across any network.
🚀 WCT Features
Decentralized Governance: WCT holders can vote on network proposals, such as fee structures and protocol development.
Staking: WCT holders can participate in token staking to support network security and earn rewards.
Rewards: Rewards are granted to active participants in the network, such as node operators and developers.
Fees: In the future, fees for using the network may be imposed, payable in WCT, according to the community governance mechanism.
🔄 How WCT Works
WCT acts as an internal currency for the WalletConnect network, used for:
Staking: To secure the network and participate in governance.
Rewards: To encourage active participation from users and developers.
Fees: To cover future operational costs of the network.
The network is governed by a decentralized governance mechanism, where WCT holders can submit proposals and vote on them, contributing to the network's development and decision-making.
💰 WCT Distribution
The total supply of WCT is 1 billion tokens, with the following distribution:
27%: For the WalletConnect Foundation (270 million WCT)
18.5%: For airdrop to users and developers (185 million WCT)
18.5%: For the founding team (185 million WCT)
17.5%: For rewards and staking (175 million WCT)
11.5%: For early supporters and investors (115 million WCT)
7%: For protocol development and future projects (70 million WCT)
Future Projections
As the network @WalletConnect expands and supports more blockchain networks, WCT is expected to see increased demand and usage.
Some forecasts suggest that the price of WCT could reach $10 by 2025 if the network continues to grow and expand.
#WalletConnect $WCT
