what is $WCT coin ?
WCT, or the WalletConnect Token, is the native utility token of the WalletConnect Network. It's used for various functions within the ecosystem, including fees, rewards, staking, and governance, ultimately incentivizing participation and ensuring the network's security and efficiency.
Native Token:
WCT is the primary token for the WalletConnect Network, designed to enable a secure and decentralized on-chain user experience
Utility:
WCT has multiple uses, including:
Fees: WCT can be used to pay for network services like relay usage, ensuring the long-term sustainability of the WalletConnect Network.
Rewards: Tokens are given as incentives to keep the network secure and efficient, motivating participation from users and developers.
Staking: WCT holders can stake their tokens to earn rewards and participate in the network's governance.
Governance: WCT holders can vote on proposals and changes, allowing the community to shape the network's development.
Decentralized Governance:
WCT enables decentralized governance, allowing token holders to participate in important decisions about protocol upgrades and fee structures.
Staking:
WCT holders can stake their tokens for varying periods, earning rewards in exchange for their participation in the network.
Network Security:
WCT helps to secure the network through various mechanisms like staking and rewards.
Total Supply:
The total supply of WCT is capped at 1 billion tokens.
