The @WalletConnect Token ($WCT ) gives its holders meaningful governance rights, enabling them to actively influence the direction and policies of the WalletConnect Network. By placing decision-making power in the hands of the community, WCT ensures that the network evolves as a decentralized and collaborative infrastructure for Web3.
At the core of these rights is the ability to vote on key proposals. WCT holders can decide on crucial matters such as fee structures for relay usage, upgrades to the technical framework, adjustments to staking reward mechanisms, and the allocation of ecosystem funds. These votes decentralize protocol control, ensuring that no single entity dominates the evolution of the network.
To activate governance participation, holders typically stake their WCT tokens for a defined lock-up period. Staking not only secures the network but also grants voting power, which scales with the amount and duration of tokens staked. This system aligns incentives, rewarding long-term commitment while giving token holders a direct voice in governance.
As the protocol matures, governance responsibilities gradually transition from the WalletConnect Foundation to community-led councils and, ultimately, to a decentralized autonomous organization (DAO). This progression ensures that WCT holders steadily gain more influence over technical development, partnerships, and ecosystem expansion.
To safeguard fairness, governance mechanisms include checks against excessive concentration of voting power. Caps and delegation limits help prevent dominance by a few large holders, fostering a more balanced and democratic process. On top of governance rights, active participants often enjoy ecosystem benefits such as early access to new features and additional rewards, further encouraging community engagement.