The #WALLETCONEECT has a unique token identified as #wct , which is one of the ERC-20 tokens with a total supply of 1 billion tokens. The #wct was launched on the Optimism network and is used for various purposes within the @WalletConnect ecosystem.
Governance: Holders of the #wct tokens can help determine how the network evolves, from protocol upgrades to fee structures.
Staking: Users can stake the wct tokens to help secure the network and earn rewards. The staking duration ranges from one week to two years, with incentives increasing the longer the commitment.
Performance-based rewards: Node operators and wallet providers are rewarded with wct tokens based on metrics such as uptime, latency, and the number of successful connections.
Future fees: While the walletconnect protocol does not impose fees at this time, the wct tokens may later be used as transaction fees if the community votes for it.
The wct tokens belong to the ERC-20 token standard and have a total supply of 1 billion tokens.
