@WalletConnect @Binance Square Official WCT token is commonly referred to as WalletConnect Token (WCT). It is a cryptocurrency that powers the WalletConnect network. Here are some of its key features:

What is WalletConnect? WalletConnect is a decentralized communication protocol. Its function is to securely connect cryptocurrency wallets to decentralized applications (dApps). It allows users to interact with blockchain-based services without revealing their private keys or relying on browser extensions. It supports various blockchain ecosystems, including Ethereum (EVM), Solana, Cosmos, Polkadot, and Bitcoin.

Key points of WCT token:

Role and purpose: WCT token plays a key role in ensuring the long-term stability and decentralization of the WalletConnect network.

Utility:

Staking: WCT holders can contribute to the security of the network by staking tokens and earn rewards in return.

Governance: WCT token holders can vote on various updates and decision-making processes in the network. This keeps the network in the hands of the community.

Rewards: Users and service providers are rewarded with WCT tokens for active participation in the network.

Fee Structures: WCT tokens may be used as fees for future transactions, subject to governance approval.

Decentralization: The WalletConnect network is moving towards a completely permissionless model, where anyone can operate a service node or gateway node. The WCT token further strengthens this decentralization.

Airdrop: WalletConnect plans to airdrop WCT tokens to its community members and contributors to the growth of the ecosystem.

Benefits:

Secure Connection: WalletConnect establishes a secure connection between users’ wallets and dApps, where private keys do not need to be disclosed.

Versatile: It supports various blockchain ecosystems, making it a highly versatile protocol in the Web3 world.

Community-driven: The community can directly participate in determining the future direction of the network through WCT tokens.

Reward opportunities: Users can earn rewards by staking tokens or operating nodes.