#WriteToEarnWCT
WalletConnect Token (WCT) is the native utility token of the WalletConnect Network, a widely adopted protocol that enables secure connections between decentralized applications (dApps) and crypto wallets. Initially launched on the Optimism Layer 2 network, WCT serves multiple functions within the ecosystem, including governance, staking, rewards, and potentially as a fee mechanism for services built on WalletConnect
Key Tokenomics and Distribution
Total Supply: 1 billion WCT
Circulating Supply: Approximately 186 million WCT
Allocation:
27% to the WalletConnect Foundation
18.5% distributed via airdrops to eligible users and contributors
Remaining tokens allocated to the project team, incentive programs, early supporters, and core development initiatives
Initially, WCT was non-transferable to ensure its use within the ecosystem and to foster long-term development and network stability. However, as of last month, WCT has become officially transferable, marking a significant step in WalletConnect's decentralization roadmap .
Market Performance
All-Time High (ATH): $1.35 on May 31, 2025
Current Price: Approximately $0.54, reflecting a decline of about 60% from its ATH
Market Cap: Around $101 million
24-Hour Trading Volume: Approximately $484 million
Where to Buy WCT
WCT is available on several major centralized exchanges, including:
Upbit: WCT/KRW trading pair
Binance: WCT/USDT trading pair
OKX: WCT/USDT trading pair
Utility and Use Cases
WCT plays a crucial role in the WalletConnect ecosystem by:
Governance: Allowing token holders to propose and vote on network decisions
Staking: Enabling users to lock tokens to earn rewards
Incentivization: Providing rewards to service nodes and wallets that perform well
Fee Mechanism: Potentially being used to pay for services within the WalletConnect ecosystem