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WalletConnect Token (WCT) is the native utility token of the WalletConnect ecosystem. It's an ERC-20 token deployed on the Optimism network and serves multiple functions, including governance, staking, and network participation rewards. Here's a more detailed breakdown: Key Functions: Governance: WCT holders can participate in the governance of the WalletConnect protocol by voting on proposals related to protocol upgrades, fee structures, and other important decisions. Staking: Users can stake WCT tokens to earn rewards and contribute to the security and stability of the network. Network Rewards: WCT is used to reward node operators and service providers based on their performance metrics, ensuring the network runs smoothly and efficiently. Potential Future Use: WCT may also be used for transaction fees in the future, pending governance approval. Tokenomics: Total Supply: 1 billion WCT tokens. Circulating Supply: 186.2 million WCT tokens
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