$WCT
1. Introduction to WalletConnect
WalletConnect is a decentralized protocol that facilitates secure connections between cryptocurrency wallets and decentralized applications (dApps) across various blockchains. Established in 2018, it has become a cornerstone of the Web3 ecosystem, enabling over 150 million connections for more than 23 million users across 600+ wallets and 65,000+ dApps .
2. Role of the Native Token
The native token, WCT, serves multiple functions within the WalletConnect network:
Governance: Token holders participate in protocol upgrades and decision-making processes.
Staking: Users can stake WCT to secure the network and earn rewards.
Transaction Fees: WCT is used to pay for transaction fees within the ecosystem.
Incentives: The token is utilized in various incentive programs to encourage network participation .
3. Tokenomics
Total Supply: 1 billion WCT tokens.
Circulating Supply: Approximately 186.2 million WCT tokens .
Market Capitalization: Around $57.55 million .
Fully Diluted Valuation (FDV): Approximately $309.09 million .
Allocation:
Foundation: 27%
Airdrops: 18.5%
Team, Incentives, and Development: The remainder .
4. Ecosystem and Integrations
WalletConnect supports a wide range of blockchain networks, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin . Its protocol is integrated into numerous dApps, facilitating seamless and secure interactions between users and decentralized platforms.
5. Future Prospects
As the Web3 ecosystem continues to expand, WalletConnect's role as a bridge between wallets and dApps positions it for sustained growth. The ongoing development of its infrastructure and the increasing adoption of decentralized applications are expected to drive demand for WCT, potentially enhancing its value and utility within the ecosystem.
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