WalletConnect Token (WCT): An Introduction

WalletConnect is an open-source protocol that connects crypto wallets to decentralized applications (dApps) securely. By scanning a QR code or clicking a deep link, users can instantly interact with dApps through their mobile or desktop wallets — all without exposing their private keys.

WCT, or WalletConnect Token, is the native utility and governance token of the WalletConnect network. It is deployed on the Optimism network as an ERC-20 token, with a total supply of 1 billion tokens. Around 18.5% of the supply was distributed through an airdrop to early users and contributors.

Main Utilities of WCT:

Staking:

Users can lock their tokens for a period ranging from 1 week to 2 years. The longer the lock-up period, the greater the staking rewards, encouraging long-term participation in the network.

Governance:

WCT holders can vote on key decisions such as protocol upgrades, fee structures, and future airdrop strategies — ensuring that the protocol evolves with community consensus.

Performance Incentives:

Wallet providers and node operators are rewarded in WCT based on their uptime, latency, and overall contribution to network performance.

Future Outlook:

Though WalletConnect services are currently free, governance may introduce protocol fees in WCT through community voting. This would further incentivize holding and using the token.

With over 600+ wallets and 40,000+ dApps integrated, and more than 240 million successful sessions, WalletConnect and its token are becoming central to the Web3 experience.