If you still think that the governance vote of WCT token is just about deciding some trivial technical parameters, you may have missed the most exciting "power game" in the Web3 world over the past year.
In the last quarter, WCT DAO held a historic vote on the topic: "In the next major version, which ecosystem's cross-chain communication standard should be natively integrated and optimized?"
The candidates include Cosmos's IBC, LayerZero's OFT, and an asset cross-chain solution proposed by a new BTC layer two network.
What does this mean?
Whoever can win will be able to enjoy the smoothest and most fundamental user traffic entry brought by WalletConnect in the coming years. Users' multi-chain assets can flow into your ecosystem effortlessly; your ecosystem dApp can be accessed most conveniently by users across the entire network.
This is no longer a technical route dispute; this is a real commercial war.
What did we see? We saw that major foundations in the Cosmos ecosystem, top VCs behind LayerZero, and several leading BTC L2 projects are frantically accumulating WCT in the secondary market, not for speculation, but to gain decisive voting rights.
In those weeks, the on-chain delegated addresses of WCT became the top alpha information within the circle. If you understand who is buying and who is campaigning for which proposal, you will understand the future flow of capital.
In the end, IBC won with its more open standards and broader community support by a narrow margin. The day after the announcement, ATOM and relevant tokens within the ecosystem surged more than 15%.
Now do you understand? WCT DAO is no longer a simple community organization. It has become a 'digital United Nations Security Council' with powerful externalities. Every important decision it makes profoundly influences the resource allocation and power dynamics of the entire multi-chain world.
The value of WCT has long surpassed the dividend rights of protocol income. Its true value is the most scarce thing in this era: influence.
