WalletConnect Token ($WCT) is the native utility token of the WalletConnect Network, a decentralized protocol facilitating secure and seamless connections between cryptocurrency wallets and decentralized applications (dApps) across multiple blockchains. With over 700 supported wallets and 70,000+ dApps, WalletConnect has become a cornerstone of the Web3 ecosystem .
Core Functions of $WCT
The $WCT token serves several pivotal roles within the WalletConnect ecosystem:
Staking: Users can stake $WCT to secure the network and participate in consensus mechanisms.
Governance: Holders of $WCT tokens have voting rights, allowing them to influence protocol upgrades and ecosystem decisions.
Rewards: Active participants and contributors are rewarded with $WCT tokens, incentivizing engagement and development within the network.
Transaction Fees: $WCT can be used to pay for transaction fees within the WalletConnect ecosystem, streamlining operations .
📊 Tokenomics Overview
Total Supply: 1,000,000,000 $WCT
Circulating Supply: Approximately 186.2 million $WCT
Market Capitalization: Around $57.6 million
Fully Diluted Valuation (FDV): Approximately $309.4 million
24-Hour Trading Volume: Approximately $34.4 million
The token distribution is as follows :
Airdrops: 18.5%
Rewards: 17.5%
Team: 18.5%
Core Development: 7%
Backers: 11.5%
WalletConnect Foundation: 27%
Airdrop and Community Engagement
WalletConnect initiated its first airdrop season in November 2024, distributing 50 million $WCT tokens to community members, developers, and contributors. The allocation was as follows :
Community Distribution: 30 million $WCT
Independent Contributors: 10 million $WCT
Strategic Partners: 10 million $WCT
Subsequent airdrop seasons are planned to further engage the community and expand the network's reach.
📈 Market Performance
As of the latest data, $WCT is trading at approximately $0.3104, with a 24-hour trading volume of $34.4 million. The token has experienced a 0.62% price increase in the last 24 hours, indicating positive market sentiment .
To participate in the WalletConnect ecosystem:
Visit the Official Website: walletconnect.network
Stake $WCT: Engage in staking to earn rewards and participate in governance.
Claim Airdrops: Check eligibility for upcoming airdrop seasons.
Contribute to Development: Engage with the community and contribute to the ecosystem's growth.
WalletConnect Token ($WCT) is more than just a utility token; it's a gateway to a decentralized, user-owned Web3 infrastructure. By participating in the WalletConnect ecosystem, users can contribute to and benefit from the growth of a secure and interoperable blockchain network.
