Binance has announced the Launchpool event for the WalletConnect project, with its token $WCT scheduled for listing on April 15.
But before the listing, some are wondering about the project details and the purpose of the token.
In this article, we answer all these questions.
What is the WalletConnect project?
It is an infrastructure network aimed at facilitating the connection of digital wallets to blockchain applications.
Initially, there is no doubt you have used or benefited from the WalletConnect project in the past, as the project has been in the market since 2018. During its operation, it has simplified the usage of blockchain for many people through mobile applications, whereas using blockchain applications before that was limited to traditional computers.
Since 2018, the project has been ongoing as one of the main pillars of blockchain application infrastructure, integrating with over 600 different wallets and being used across more than 60,000 different blockchain applications. Additionally, it has facilitated over a quarter million wallet connections with ease and smoothness.

Details of the WalletConnect network
Although the WalletConnect project uses the term "network", it does not mean a blockchain network as we know it. The term "network" refers to an infrastructure network that offers a connection service linking the consumer, in this case, the wallets, with the products, which in this case are the various blockchain projects and applications.

The idea of the project in short is that the WalletConnect network provides a unified infrastructure supporting multiple networks and wallets, making it easier for application developers to offer their services to a larger consumer base and simplifies the usage process for the consumer in that they do not need more than one application or wallet to use a specific application.
If you have used any blockchain application, you know that the presence of the WalletConnect icon means you can use that application easily and without complications.

Thus, we can say that the WalletConnect network is a data and information network. However, throughout this period, this network was centralized under company management, which contradicts the well-known principles of decentralization in the cryptocurrency sector. Therefore, the project decided to take a step towards decentralization and make this network available to the public, with the $WCT token being the cornerstone of this ecosystem.
What is the WCT token?
It is the main token of the WalletConnect network and operates on several key axes of the network, the most notable of which are the following:
Transaction fees: The team proposes using the token for transaction fees on services used on the network, but this has not yet been implemented and will be under consideration by governance.
Rewards: The token is used to reward and incentivize participants in the network who maintain security.
Staking: Token holders can stake their tokens to earn staking rewards and participate in governance.
Governance: Token holders can vote on governance decisions and shape the future of the project.
Details of the WCT token
The total supply of WCT is 1,000,000,000.
However, at listing, the total supply for trading will be only 186,200,000 WCT.
It is also worth noting that the economics of token distribution are as follows:
27% allocated to the WalletConnect Foundation
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18.5% allocated to the Airdrop
18.5% allocated to the team
17.5% allocated for rewards
11.5% allocated to previous supporters
7% for the core development team
Listing of the WalletConnect token
The WCT token is scheduled to be listed on Binance on April 15 at 2 PM Mecca time.
It will be listed on five trading pairs, which are:
WCT/USDT
WCT/USDC
WCT/BNB
WCT/FDUSD
WCT/TRY
What is the price of WCT?
Currently, Pre-Market markets estimate the token price in the range of $0.5, which will give it a market valuation of $93 million.
But looking at this valuation and comparing it to other tokens and projects that have emerged from Binance, this valuation may be lower than previous ones.
Therefore, if the WCT token can list with a market cap close to other projects we've seen from Binance recently, we might see the token price at listing between $1 and $2.
