#WalletConnect
1. Circulation and Selling Pressure Issues: The initial circulation volume has a high proportion of institutional and private placement holdings. The low cost for private placements leads to concentrated selling pressure, exacerbated by market maker operations causing price volatility.
2. Utility Landing Delay: The four main functions of the token are only activated through staking and trading, with key scenarios like fee payments not yet implemented, lacking short-term value capture points, and facing doubts as 'air coins'.
3. Insufficient Ecological Transformation: Although the protocol has over 275 million connections, 90% are free services, and the token economic conversion rate is below 5%, with high valuations lacking income support.
4. Governance and Incentive Defects: Low community voting participation rate and governance rights are virtually ineffective; staking rewards rely on inflation, forming a closed loop of 'mining, withdrawing, and selling'.
Future Development Vision
Promote comprehensive decentralization of the network, optimize reward distribution mechanisms, allowing node operators, wallets, and other participants to benefit. Implement a 'tiered connection fee' model, driving rewards through income to create a profitable decentralized network. Relying on the DID system and AI engine, achieve interoperability across multiple tracks, realizing an average of 1 billion protocol calls per day, becoming a core hub for large-scale commercial applications in Web3.
