Daisy_adamZz
--
WalletConnect: The Backbone of Onchain UX – A Comprehensive Overview Up to August 2025
WalletConnect, now rebranded as Reown, stands as a cornerstone of the Web3 ecosystem, facilitating seamless and secure connections between cryptocurrency wallets and decentralized applications (dApps). Founded in 2018, it has evolved from a simple open-source protocol into a fully decentralized network powering over 309 million connections across 600+ wallets and 40,000+ app projects. As of August 25, 2025, WalletConnect (Reown) continues to drive onchain user experience (UX) innovation, with its native token $WCT playing a pivotal role in governance, incentives, and sustainability. This article delves into the project’s history, features, tokenomics, developments, ecosystem, market performance, and future prospects, providing a holistic view of its journey.
History and Origins
WalletConnect was established in 2018 in the Cayman Islands by Pedro Gomes, under WalletConnect Inc., with the primary goal of bridging the gap between mobile wallets and desktop-based dApps. The protocol addressed a critical pain point in early Web3: the disconnect caused by device silos. It introduced a relay system using QR codes and end-to-end encryption, enabling secure, permissionless interactions without exposing private keys. By 2024, WalletConnect had facilitated billions in transaction value, supporting major chains like Ethereum, Polygon, and Binance Smart Chain.
In September 2024, the project transitioned toward decentralization with the launch of the WalletConnect Network and the $WCT token on Optimism’s OP Mainnet. Token transferability was enabled in April 2025, marking a key milestone. The rebranding to Reown in early 2025 emphasized its focus on “re-owning” the onchain UX, shifting from a company-led model to a community-driven one supported by the WalletConnect Foundation. This evolution included node operators like Consensys, Ledger, and 1kx, ensuring censorship resistance and scalability.
Key Features and Products
WalletConnect’s core strength lies in its protocol, now at version 2.0+, which supports multi-chain connectivity, session management, and advanced features like Smart Sessions for automated on-chain actions.  Key features include:
• Secure Connectivity: End-to-end encryption and MPC (multi-party computation) for wallet policy management, minimizing hacking risks.
• Cross-Chain Support: Compatible with 300+ blockchains, including Ethereum, Solana, and Bitcoin ecosystems.
• User-Centric UX: Reduces pop-ups and simplifies interactions, with tools like the UX Council for community-driven improvements.
Primary products under Reown include:
• AppKit: Enables dApps to integrate WalletConnect for onboarding, analytics, and scaling onchain finance applications.
• WalletKit: Allows wallets to connect to 70,000+ apps with minimal overhead, trusted by 700+ wallets like MetaMask and Trust Wallet.
Recent additions like the “State of Onchain Payments” report highlight its role in boosting payments and DeFi.
The $WCT Token: Launch, Tokenomics, and Utility
The $WCT token, launched on September 17, 2024, with transferability enabled on April 15, 2025, via Binance Launchpool (67th project), is central to the network’s decentralization. It debuted with a 185 million token airdrop to early users, apps, and wallets.
Tokenomics:
• Total Supply: 1 billion $WCT (no inflation planned).  
• Circulating Supply: Approximately 186-190 million as of August 2025 (19%).
• Allocations: 34.78% for community/ecosystem, 25.39% for contributors, 18.54% for investors (with vesting: 1-year cliff, 2-year linear unlock).  Airdrops and incentives make up significant portions for sustainability.
Utility:
• Fees: Pays for relay services and future network features (initially zero, governed by holders). 
• Staking: Users stake $WCT for rewards and to secure the network (121.3 million staked by 49,400+ holders). 
• Governance: Holders vote on proposals via Snapshot and Discourse, including upgrades and fees.  
• Rewards: Incentives for participation, such as quests and airdrops.
The token’s design emphasizes long-term alignment, with no big VC dumps.
Recent Developments in 2025
2025 has been transformative for WalletConnect:
• Q1-Q2: On-chain governance rollout, enabling $WCT holders to vote on upgrades (99% approval for transferability). Expansion to Solana with a 5 million $WCT airdrop, integrating with Phantom, Jupiter, and Solflare.
• Staking Redesign (August): Introduced perpetual staking and user-triggered unlocks (P3 Proposal), enhancing rewards and liquidity.
• Partnerships: Collaborations with BOB for Bitcoin DeFi (supporting 200M+ users via Binance, Bitget, Unisat wallets), Sui for institutional staking, and FIFA for EVM-compatible blockchain.
• Community Events: Meetups in Tokyo (August 25, sharing $WCT roadmap and onchain payments),  Seoul (August 28), and WebX Asia.
• Integrations: With Alephium for native dApp browsing (no WalletConnect needed), and Verified Wallet for MPC swaps.
These advancements have boosted connections to 150-185 million, with 23-30 million users.
Ecosystem and Partnerships
WalletConnect’s ecosystem spans 700+ wallets (e.g., MetaMask, Trust Wallet) and 50,000+ dApps, including DeFi (Uniswap), NFTs (OpenSea), and gaming. Key partners include Consensys, Ledger, Binance, and emerging players like BOB and Sui. Node operators (e.g., Kiln, Figment) ensure decentralization. The network processes billions in weekly value, emphasizing onchain payments and finance.
Governance and Community
Governance is progressively decentralizing via $WCT holders, with proposals on fees, upgrades, and the UX Council. The WalletConnect Foundation oversees operations, with board members like Pedro Gomes. Community sentiment is bullish (96/100 on social media), with 286,500+ holders and events fostering engagement.
Market Performance and Price Analysis
As of August 25, 2025, $WCT trades at $0.30-$0.35, with a market cap of $56-65 million (rank #505-713). 24-hour volume: $28-67 million. ATH: $1.35 (May 31, 2025); ATL: $0.28 (April 15, 2025). Recent: -3.9% daily, +3.9% weekly, but -17% monthly. Listings on Binance, KuCoin, MEXC, etc., with Coinbase adding it in August.
Predictions vary: $0.32-$1.10 by end-2025 (conservative), up to $6.50 by 2030.
Future Outlook
WalletConnect’s roadmap includes full decentralization, AI-enhanced UX, and more chain integrations (e.g., Bitcoin, Solana expansions). With Web3 adoption rising, $WCT could reach $0.75-$2 by 2026 if onchain payments boom. Challenges include volatility and competition, but its infrastructure role positions it for growth.
Conclusion
From its 2018 inception to its 2025 rebranding as Reown, WalletConnect has redefined Web3 connectivity, empowering millions with secure, decentralized UX. The $WCT token has solidified its community-driven model, with ongoing developments ensuring relevance in an evolving ecosystem. As onchain finance matures, WalletConnect remains indispensable, bridging users and apps across the multichain world.
History and Origins
WalletConnect was established in 2018 in the Cayman Islands by Pedro Gomes, under WalletConnect Inc., with the primary goal of bridging the gap between mobile wallets and desktop-based dApps. The protocol addressed a critical pain point in early Web3: the disconnect caused by device silos. It introduced a relay system using QR codes and end-to-end encryption, enabling secure, permissionless interactions without exposing private keys. By 2024, WalletConnect had facilitated billions in transaction value, supporting major chains like Ethereum, Polygon, and Binance Smart Chain.
In September 2024, the project transitioned toward decentralization with the launch of the WalletConnect Network and the $WCT token on Optimism’s OP Mainnet. Token transferability was enabled in April 2025, marking a key milestone. The rebranding to Reown in early 2025 emphasized its focus on “re-owning” the onchain UX, shifting from a company-led model to a community-driven one supported by the WalletConnect Foundation. This evolution included node operators like Consensys, Ledger, and 1kx, ensuring censorship resistance and scalability.
Key Features and Products
WalletConnect’s core strength lies in its protocol, now at version 2.0+, which supports multi-chain connectivity, session management, and advanced features like Smart Sessions for automated on-chain actions.  Key features include:
• Secure Connectivity: End-to-end encryption and MPC (multi-party computation) for wallet policy management, minimizing hacking risks.
• Cross-Chain Support: Compatible with 300+ blockchains, including Ethereum, Solana, and Bitcoin ecosystems.
• User-Centric UX: Reduces pop-ups and simplifies interactions, with tools like the UX Council for community-driven improvements.
Primary products under Reown include:
• AppKit: Enables dApps to integrate WalletConnect for onboarding, analytics, and scaling onchain finance applications.
• WalletKit: Allows wallets to connect to 70,000+ apps with minimal overhead, trusted by 700+ wallets like MetaMask and Trust Wallet.
Recent additions like the “State of Onchain Payments” report highlight its role in boosting payments and DeFi.
The $WCT Token: Launch, Tokenomics, and Utility
The $WCT token, launched on September 17, 2024, with transferability enabled on April 15, 2025, via Binance Launchpool (67th project), is central to the network’s decentralization. It debuted with a 185 million token airdrop to early users, apps, and wallets.
Tokenomics:
• Total Supply: 1 billion $WCT (no inflation planned).  
• Circulating Supply: Approximately 186-190 million as of August 2025 (19%).
• Allocations: 34.78% for community/ecosystem, 25.39% for contributors, 18.54% for investors (with vesting: 1-year cliff, 2-year linear unlock).  Airdrops and incentives make up significant portions for sustainability.
Utility:
• Fees: Pays for relay services and future network features (initially zero, governed by holders). 
• Staking: Users stake $WCT for rewards and to secure the network (121.3 million staked by 49,400+ holders). 
• Governance: Holders vote on proposals via Snapshot and Discourse, including upgrades and fees.  
• Rewards: Incentives for participation, such as quests and airdrops.
The token’s design emphasizes long-term alignment, with no big VC dumps.
Recent Developments in 2025
2025 has been transformative for WalletConnect:
• Q1-Q2: On-chain governance rollout, enabling $WCT holders to vote on upgrades (99% approval for transferability). Expansion to Solana with a 5 million $WCT airdrop, integrating with Phantom, Jupiter, and Solflare.
• Staking Redesign (August): Introduced perpetual staking and user-triggered unlocks (P3 Proposal), enhancing rewards and liquidity.
• Partnerships: Collaborations with BOB for Bitcoin DeFi (supporting 200M+ users via Binance, Bitget, Unisat wallets), Sui for institutional staking, and FIFA for EVM-compatible blockchain.
• Community Events: Meetups in Tokyo (August 25, sharing $WCT roadmap and onchain payments),  Seoul (August 28), and WebX Asia.
• Integrations: With Alephium for native dApp browsing (no WalletConnect needed), and Verified Wallet for MPC swaps.
These advancements have boosted connections to 150-185 million, with 23-30 million users.
Ecosystem and Partnerships
WalletConnect’s ecosystem spans 700+ wallets (e.g., MetaMask, Trust Wallet) and 50,000+ dApps, including DeFi (Uniswap), NFTs (OpenSea), and gaming. Key partners include Consensys, Ledger, Binance, and emerging players like BOB and Sui. Node operators (e.g., Kiln, Figment) ensure decentralization. The network processes billions in weekly value, emphasizing onchain payments and finance.
Governance and Community
Governance is progressively decentralizing via $WCT holders, with proposals on fees, upgrades, and the UX Council. The WalletConnect Foundation oversees operations, with board members like Pedro Gomes. Community sentiment is bullish (96/100 on social media), with 286,500+ holders and events fostering engagement.
Market Performance and Price Analysis
As of August 25, 2025, $WCT trades at $0.30-$0.35, with a market cap of $56-65 million (rank #505-713). 24-hour volume: $28-67 million. ATH: $1.35 (May 31, 2025); ATL: $0.28 (April 15, 2025). Recent: -3.9% daily, +3.9% weekly, but -17% monthly. Listings on Binance, KuCoin, MEXC, etc., with Coinbase adding it in August.
Predictions vary: $0.32-$1.10 by end-2025 (conservative), up to $6.50 by 2030.
Future Outlook
WalletConnect’s roadmap includes full decentralization, AI-enhanced UX, and more chain integrations (e.g., Bitcoin, Solana expansions). With Web3 adoption rising, $WCT could reach $0.75-$2 by 2026 if onchain payments boom. Challenges include volatility and competition, but its infrastructure role positions it for growth.
Conclusion
From its 2018 inception to its 2025 rebranding as Reown, WalletConnect has redefined Web3 connectivity, empowering millions with secure, decentralized UX. The $WCT token has solidified its community-driven model, with ongoing developments ensuring relevance in an evolving ecosystem. As onchain finance matures, WalletConnect remains indispensable, bridging users and apps across the multichain world.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
