WalletConnect Token (WCT) is the native token of the WalletConnect network, designed to support functions such as governance, staking, and fee payments for the network. WalletConnect is an open-source protocol that allows users to securely connect their cryptocurrency wallets to decentralized applications (dApps), providing end-to-end encrypted communication and ensuring that private keys are always kept on the local device.

The main functions of WCT include:

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Governance mechanism: Holders can participate in voting on network proposals to decide on key matters such as fee structures, upgrade plans, etc., achieving decentralized governance.

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Staking mechanism: Users can support network stability by staking WCT and earn rewards. The amount staked and the duration of the lock-up will affect the returns.

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Fee payment: In the future, WCT will be used to pay for network service fees, such as connection service fees based on monthly active users (MAU).

The initial supply of WCT is 1 billion tokens, with a clear allocation structure: 27% for the WalletConnect Foundation to support ecosystem collaboration, funding, and operations; 18.5% allocated to users, nodes, applications, and wallet airdrop programs; 18.5% allocated to team members, with a four-year linear unlock and a one-year lock-up; 17.5% for staking and operational performance incentive mechanisms; 11.5% allocated to early supporters, with a one-year lock-up and a four-year unlock period; 7% for development funds to support continuous upgrades of the protocol and SDK.

The design of the WCT token aims to promote the long-term sustainability of the WalletConnect network, empowering the community through the above functions and fostering the healthy development of the ecosystem.

$WCT #WalletConnect @walletconnect