#wct , or WalletConnect Token, is the native token of the WalletConnect ecosystem, a decentralized protocol that provides a secure connection between cryptocurrency wallets and decentralized applications (dApps). The WCT token is used for various purposes, such as paying fees, staking rewards, participating in network governance, and incentivizing developers and users.
Functions:
Fees: WCT tokens can be used to pay transaction fees on the WalletConnect network, although this feature is not yet activated.
Staking and rewards: Users can stake their WCT tokens to support the network's security and receive rewards for doing so.
Governance: WCT holders can participate in network governance by voting on proposals and changes, ensuring decentralized governance.
Incentives: WCT is used to reward node operators and wallet providers for maintaining the network's functionality.