Is WalletConnect Truly Decentralized? The $WCT Token Conundrum
WalletConnect is making a big push toward a DAO-governed network, with the new $WCT token at its core. But a persistent rumor suggests that a significant portion of the token supply is held by a few key players—the foundation, early investors, and the core team.
While the protocol's goal is to empower users and transition to a fully decentralized model, a top-heavy token distribution could mean that the path to a true community-led network is longer and more complex than it appears.
Will the upcoming token unlocks and vesting schedules dilute this concentration of power, or will the "few" continue to hold the sway over the "many"? The future of WalletConnect's decentralization may hinge on how this key challenge is managed.
