The WalletConnect Token (WCT) is integral to the WalletConnect Network — fueling the onchain UX ecosystem by empowering its community of users, apps, and wallets to contribute to a better onchain future through shared incentives. Launching on Optimism’s OP Mainnet, the token will employ Ethereum’s security and OP Mainnet’s speed.

pool, with the percentage set by governance. Each staker’s rewards are based on their stake weight, which is capped to prevent over-concentration. Rewards increase with longer commitments and larger stakes.

The fixed staking system allows users to lock tokens for periods between one week and two years. During the lock-up period, tokens cannot be withdrawn, and there is a 7-day unbonding process at the end. An auto-locking feature automatically renews staking positions, maintaining stake weight. Manual re-staking is also available, with potential for future automatic re-staking to enhance user convenience.

4. Governance

The governance of the WalletConnect Network is designed to promote decentralization, transparency, and community involvement. The WalletConnect Foundation stewards the Network's growth, supporting stakeholders through grants, application development, and partnerships. Though not predefined per their vertical, several councils will be responsible for different functions, for example when looking at the proposed approach, a Technical Council would handle technology and infrastructure, and a Partnerships Council would focus on growth and partnerships. These councils would become more involved as the network transitions to a decentralized model through a DAO.

Tokenholders will vote on proposals and participate in decision-making through the Network’s governance mechanism. The community governance model is designed to involve the community across elements of the network imminently, with a gradual increase of control being shifted to WCT tokenholders as the network matures and the ecosystem evolves. Optimally, this transition is implemented in phases.