the most up-to-date overview of the WalletConnect Token (WCT) and its recent progress:
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What is WCT?
Native token of the WalletConnect Network, launched by the WalletConnect Foundation on Optimism’s OP Mainnet .
Total supply capped at 1 billion tokens, with allocations for the Foundation, team, rewards, airdrops, backers, and core development .
Supports four core functions:
1. Governance – token holders can propose and vote on protocol changes.
2. Staking – stake tokens for rewards and network stability.
3. Rewards – tokens earned through participation in network activities.
4. Fees – network may implement fee payers in WCT via governance over time .
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Progress & Recent Developments
1. Airdrop & Token Launch
185 million WCT reserved for airdrops (18.5% of total supply) .
Season 1 (50M tokens) airdrop launched late 2024, rewarding ~160K active users and contributors .
Registration & eligibility opened in Q4 2024, with distribution finalized around October–November .
2. Transferability
Initially non-transferable, to focus on decentralization and network stability.
Tokens became transferable only after community/governance trigger, tentatively timed for 2025 .
3. Token Sales
Coinlist ICO and Bitget LaunchX IEO ran in early Feb 2025.
Price: $0.20
Supply sold: 20 million WCT (~2% of total)
Raise: $4 million
Unlock: 100% at token generation event (pending transferability) .
4. Ecosystem & Growth
Adopted first decentralized node operators (Reown, Consensys, Ledger, Kiln, etc.) since v2 migration in 2023 .
The network boasted:
23M+ users
150M+ connections to date
~4M monthly active users, over 15M monthly connections
YoY growth of ~240%
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Current Market & Outlook
Price: −0.07% intraday) .
On‑chain activity: Governance, staking, and reward mechanisms are live, though broader fee models and full decentralization are still in progress.
Upcoming catalysts:
Transferability enabled through governance vote (expected 2025)
Implementation of network fee structures
Further airdrop seasons and staking reward programs
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️ Timeline at a glance
Period Milestone
Sep–Oct 2024 Airdrop registration and initial Season 1 distribution
Sep 2024 Official WCT announcement, fee/governance/staking outlined
Feb 2025 Coinlist ICO & Bitget IEO concluded
2025 Expected governance vote on transferability and fee implementation
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✅ Summary
WCT has successfully launched, garnered strong community engagement via airdrops and token sales, and integrated governance and staking. The network is geared toward full decentralization, pending key milestones like transferability approval and fee rollout. Its rapid ecosystem growth supports bullish sentiment, though broader liquidity and fee-driven economies are next steps.
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