I. Project Overview
Project Name: WalletConnect
Token Name: WCT
Positioning: Web3 Infrastructure Protocol, focusing on multi-chain wallet and DApp interoperability.
Core Functionality: Achieving seamless connection between wallets and DApps through open protocols, supporting cross-chain transactions, identity verification, messaging, and more.
Established: 2018
Blockchain Platform: Ethereum (compatible with other EVM chains)
II. Basic Token Information
1. Token Use Cases:
Governance: Holding WCT allows participation in protocol upgrades, parameter adjustments, and other governance decisions.
Staking and Incentives: Earn protocol revenue sharing through staking tokens, incentivizing ecological contributors (developers, node operators, etc.).
Payment Tools: Used for paying fees for services within the WalletConnect ecosystem.
Ecological Cooperation: Acts as a 'pass' for partners to integrate, such as priority access to new features or technical support.
2. Token Distribution (based on the white paper and public information):
Team and Advisors: 15-20% (usually unlocked linearly over 3-4 years)
Foundation Reserve: 20-25% (for long-term ecological development)
Community Incentives: 30-35% (Airdrops, Developer Rewards, Liquidity Mining)
Private/Public Sale: 15-20% (early financing and public sale)
3. Token Model:
Total Supply Fixed: 100 million tokens (subject to the white paper), no issuance mechanism.
Deflationary Design: A portion of transaction fee income is used for token burning, long-term reducing circulation.
III. Core Advantages of the Token
1. Technical Advantages: Irreplaceability of the underlying protocol
Multi-Chain Compatibility: Supports 50+ blockchains including Ethereum, Solana, Cosmos, covering over 90% of mainstream ecosystems.
Decentralized Architecture: No intermediary servers are needed, users connect wallets and DApps directly through P2P communication, ensuring privacy and security.
Lightweight Integration: Developers can quickly integrate via SDK, lowering DApp development barriers.
2. Ecological Advantages: Position as Web3 Infrastructure
User Coverage: Over 500 wallets (such as MetaMask, Trust Wallet) and 3,000+ DApp integrations, with monthly active users exceeding ten million.
Application Scenario Expansion:
DeFi: One-click authorization trading, cross-chain asset transfer.
NFT: Seamless login to NFT markets, verifying on-chain identity.
Social and Gaming: Deep integration with decentralized social protocols (such as Lens Protocol).
Partners: Leading projects such as Coinbase, Binance, Uniswap, OpenSea are all ecological partners.
3. Economic Model Advantages: Value Capture Ability
Revenue Sources: The protocol charges service fees to enterprise users (such as exchanges, DApps), with a portion allocated to stakers.
Long-Term Incentives: Binding developers, users, and protocol interests through token release mechanisms to form a positive cycle.
4. Market Demand: Essential need for interoperability
With the explosion of the multi-chain ecosystem, the demand for cross-chain interaction has surged, WalletConnect has become the industry standard tool.
Token economics upgrade the protocol from a 'free tool' to a 'sustainable business entity', capturing Web3 growth dividends.
IV. Competitive Analysis and Risk Warning
Competitors
Similar Protocols: Web3Modal, ConnectKit (but lacks the governance token model of WCT).
Alternative Solutions: Centralized login services (such as Magic Link), which contradict Web3 decentralization principles.
Risk Factors:
Technical Risks: Security vulnerabilities in cross-chain communication may affect user assets.
Intensified Competition: Other protocols may launch similar token models.
Regulatory Uncertainty: Global changes in regulatory policies regarding DeFi and token governance.
V. Summary and Outlook
Short-Term Value Drivers:
Ecological Airdrop Expectations (distributing WCT to early users).
Lock-up demand brought by the launch of staking features.
Long-Term Value Logic:
Under the growth of Web3 users and multi-chain trends, WalletConnect serves as a 'pipeline' for infrastructure value.
Protocol revenue and token burn mechanism drive deflation.
Target Users:
DeFi high-frequency traders, multi-chain developers, long-term stakers.
Note: Specific data needs to be updated based on the white paper and official announcements.