WalletConnect Token (WCT) is the native utility token of WalletConnect, an open-source protocol that facilitates communication between cryptocurrency wallets and decentralized applications (DApps). WalletConnect enables users to connect their wallets to DApps seamlessly via QR code scanning or deep linking across multiple blockchain networks such as Ethereum, Solana, Cosmos, Polkadot, and Bitcoin.
WCT is an ERC-20 token on the Optimism network with a total supply of 1 billion tokens. It is used for governance, allowing holders to vote on protocol upgrades and fee structures, and for staking, enabling token holders to lock tokens for rewards. Node operators and service providers within the WalletConnect network are compensated in WCT. The token may also be used for transaction fees in the future, subject to governance decisions.
The current price of WCT is about $0.30 with a market cap close to $57 million and circulating supply around 186 million tokens. It is actively traded on major exchanges including Binance.