WalletConnect announced that $WCT is the key to the WalletConnect network economy and governance structure, with an initial supply of 1 billion tokens, of which 18.5% (185 million tokens) will be allocated to multiple airdrop seasons to reward contributors and user participation.
It is important to note that the $WCT tokens will be in a "non-transferable" state after being received, and future token transfer functionality will be determined by community governance. Until all features are activated in 2025, $WCT cannot be transferred between any wallets, and its current main uses are: "community governance voting" and "staking."
There may be more uses in the future, which I think we can look forward to.