WalletConnect token WCT welcomes an important multi-chain expansion and airdrop event. The WCT token officially lands on the Solana network, initiating the multi-chain process. To reward active users in the Solana ecosystem, WalletConnect will airdrop 5 million WCT tokens, valued at approximately 3 million USD. The airdrop will be distributed through wallet partners such as Phantom, Jupiter, Backpack, and Solflare, with specific claiming details expected to be announced this summer.
This multi-chain expansion utilizes an innovative "burn-and-mint" model, ensuring the native transfer of WCT tokens across different chains while maintaining a consistent total supply, unlike traditional wrapped token methods. The high-speed and low-cost transaction advantages of the Solana network will enhance the user experience and application adoption of WalletConnect within this ecosystem. Furthermore, the integration of WCT tokens in the Solana ecosystem lays the foundation for future governance and staking functions, with several Solana applications already supporting WCT trading and usage.
As early as mid-April, WCT was listed on major exchanges such as Binance, with strong price performance on its first day of trading, propelling WCT to become the core governance token in the Web3 wallet connection space. The number of active users on the WalletConnect network has exceeded 45 million, with connection counts reaching 292 million, showcasing the rapid expansion and robust vitality of the ecosystem.
Pedro Gomes, founder of the WalletConnect Foundation, stated that the project is transitioning from Ethereum centralization to a chain-agnostic protocol, and will support more chains in the future, solidifying its key position as a Web3 cross-chain infrastructure. Investors and users can pay attention to subsequent airdrop activities and developments in the multi-chain ecosystem.