$WCT fundamental and technical analysis-PART-1

WalletConnect (WCT) is the native token of the WalletConnect Network, a decentralized protocol that facilitates secure connections between cryptocurrency wallets and decentralized applications (DApps) across multiple blockchains. Below are the fundamental and technical details of the WCT token, with a focus on its integration and performance on Binance.

Fundamental Details of WalletConnect (WCT)

Overview:

Purpose: WalletConnect is an open-source protocol designed to simplify and secure the interaction between crypto wallets and DApps using QR codes or deep links. The WCT token powers the WalletConnect Network, enabling governance, staking, and rewards.

Ecosystem Role: WCT is integral to the WalletConnect Network, which supports over 240 million connections, 38 million unique active wallets, and 57,000 DApps across blockchains like Ethereum, Solana, Polkadot, Cosmos, and Bitcoin.

Launch: WCT was launched on the Optimism network (an Ethereum Layer 2 solution) and listed on Binance via its Launchpool program on April 15, 2025.

Token Utility:

Governance: WCT holders can vote on protocol upgrades, fee structures, and network development proposals, fostering decentralized decision-making.

Staking: Users can stake WCT to secure the network, with staking durations ranging from one week to two years. Longer commitments yield higher rewards.

Rewards: Node operators and wallet providers earn WCT based on performance metrics like uptime, latency, and successful connections.

Network Fees: WCT is used to pay for services like relay usage within the WalletConnect Network.

Incentives: The token aligns incentives among users, developers, and node operators to enhance the Web3 user experience.

Tokenomics:

Total Supply: 1 billion WCT tokens.

Initial Circulating Supply: 186.2 million WCT (18.62% of total supply) at the token generation event (TGE).

Binance Launchpool Allocation: 40 million WCT (4% of total supply) was allocated for Launchpool rewards, allowing users to farm WCT by staking BNB, FDUSD, or USDC.

To be continued ....