WalletConnect enables users’ wallets and apps to connect and transact seamlessly
Apr 11th, 2025
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0.324USDT
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The WalletConnect Network is a decentralized infrastructure for wallets to connect to apps on any blockchain. This service is provided across all blockchains and platforms to enable the best user experience onchain without limitations to user preferences.
The solution provided can be broken down into three parts: the network, which is distributed between multiple node operators to relay messages between them; the SDKs, which provide an easy developer experience; and the standards, which WalletConnect has led to making all apps, wallets, and chains compatible.
Current Use Cases:
Staking:
Node Operators have to stake to participate in the network and token holders can stake to secure the network and participate in governance.
Governance participation
Token holders can vote on protocol proposals and changes to network parameters
Performance-based rewards for nodes and wallets
Nodes and wallets earn WCT based on uptime, connections processed, and service quality metrics
Planned / potential Future Use Cases:
Network fee payments
Incentivizing community-driven UX improvements
Seasonal wallet selection voting
Beta testing program access
Early access partnerships with apps
Staking for participation in App Certified programme
Governance of WalletConnect Certified program criteria
The WalletConnect Network provides a high-throughput and low-latency globally distributed network that relies on encrypted messages across different clients. These clients which are specifically apps and wallets are able to interface to create a session, expose wallet accounts and sign transactions.
The network architecture at high level consists of Gateway nodes which are able to handle the load balancing and routing of these messages and Service nodes which are operated by 16 different entities globally are able to cache these messages and serve them in real-time.
Fundraising
Reown issued Token Warrants to Investors during three financing rounds (Fb. 2022, Oct. 2022 and 2024). Token Warrants were fulfilled by WalletConnect Limited in November 2024.
Tokens issued via the Token Warrants are subject to a 4-year lock-up with a 1-year 25% cliff.
Currently, four token sale rounds are conducted and close to completion:
Private round (~ 10m WCT Token) to be sold to angels and institutional investors (1.25m WCT Token will be subject to a 4-year lock-up with 1-year cliff; the remainder are not subject to lockup schedules.
Bitget sale (20m WCT Token, not subject to lockup schedule).
CoinList sale (19,980,199 WCT Token, not subject to lockup schedule).
Echo private sale (2.5m WCT Token) sold to angel investors.
TheBlock Announcement of Token Sales: https://www.theblock.co/post/342588/walletconnect-foundation-10-million-usd-token-sales-bitget-coinlist-cobie-echo?utm_source=twitter&utm_medium=social
Circulating and total supply data.
At the moment of writing all of total supply (1B) is on Optimism Mainnet.
The circulating supply is expected to hit c.186.2M tokens (18.6%) at transferability