WalletConnect Token (WCT) is the native utility and governance token of the WalletConnect Network, a decentralized protocol that facilitates secure connections between cryptocurrency wallets and decentralized applications (dApps) across multiple blockchains. Launched in September 2024, WCT plays a pivotal role in enhancing the network’s decentralization, incentivizing participation, and ensuring its long-term sustainability.

Utility of WCT:

Governance: WCT holders can propose and vote on network upgrades, fee structures, and strategic initiatives, facilitating community-driven development.

Staking: Users can stake WCT tokens to support network security and decentralization. Staking rewards are distributed based on the amount and duration of the stake, with longer commitments yielding higher rewards.

Rewards: WCT incentivizes network participants, including node operators and wallet providers, through performance-based rewards, promoting active engagement and network reliability.

Fees: While WalletConnect currently does not charge fees for its services, WCT may be used for network fees in the future, subject to community governance decisions.