Roosevelt Garate

Why is WalletConnect moving to a decentralized model?
WalletConnect aims to become fully autonomous and decentralized (a so-called "permissionless" model) to guarantee its users greater security, better resistance to censorship, and total transparency in decision-making. Currently centralized, the network is gradually transitioning towards this complete decentralization. The $WCT token will be at the heart of this decentralization, and will notably make it possible to associate a value with the protocol, and potentially define new sources of revenue based on this token.

@WalletConnect #WalletConnect $WCT

Is WalletConnect an app to install?
No, WalletConnect is neither an app nor a browser extension to install. Rather, it's an underlying technology built directly into the dApps and wallets you already use. It simply acts as a secure bridge, facilitating the connection between your wallet and the blockchain application.

@WalletConnect #WalletConnect $WCT

What exactly is WalletConnect?
WalletConnect is a protocol that allows you to easily connect your crypto wallet (MetaMask, Trust Wallet, Ledger, etc.) to decentralized applications (dApps), via a simple and secure QR code or direct link system. Its role is to ensure compatibility between virtually all existing wallets and the thousands of dApps available. WalletConnect greatly simplifies interactions in the crypto world, and has become essential for applications.

@WalletConnect #WalletConnect $WCT

This decentralization (or permissionless model) represents a major and strategic challenge for WalletConnect. The potential benefits are significant: greater transparency, improved resilience, and enhanced independence. However, this transition also presents significant risks related to the protocol's economic model and the execution of operations without direct control over it.

@WalletConnect #WalletConnect $WCT

Its massive adoption since 2018, with more than 38 million wallets and 240 million connections made, makes it an already well-established player in the Web3 ecosystem. This token launch will enhance the value of this ecosystem, but represents a risk for its sustainability since it will be linked to fluctuations in the volatile cryptocurrency market.

@WalletConnect #WalletConnect $WCT

The $WCT token is at the heart of this transition, as the permissionless model will rely on this token to define the operators and rewards for the operations carried out.

@WalletConnect #WalletConnect $WCT

The WalletConnect protocol and its $WCT token are at an important stage for the Web3 world, as this interoperability technology between dApps and wallets, which has operated on a centralized model since 2018, is transitioning to a decentralized model. 

@WalletConnect #WalletConnect $WCT

The tokenomics is correct, and the fact that there is no inflation is a very good point because it will positively influence the valuation of the token. However, the roles of $WCT still seem too weak to me, especially since it has no use related to transaction fees.

@WalletConnect #WalletConnect $WCT

• Staking : Staking helps secure network operations, an activity that rewards you with tokens in exchange. Staking also reduces selling pressure since the tokens are locked and therefore illiquid.

@WalletConnect #WalletConnect $WCT

• Governance : Since the model is permissionless, token holders will be able to vote and make decisions on the protocol's development. The more WCT tokens a person holds, the more weight their voice carries in the voting.

@WalletConnect #WalletConnect $WCT

The tokenomics and distribution of the token are very similar to the various projects launched on Binance in recent years.
When it comes to the utility of $WCT ,  we find the three usual roles for protocol tokens: governance, staking, and rewards. In detail:

@WalletConnect #WalletConnect $WCT

For the release schedule , there is no chart released by the team, but simply this statement: " Tokens allocated to development, the team, and private investors will be subject to a gradual release over 4 years, including a one-year lock-up period starting from the Token Generation Event (TGE).

@WalletConnect #WalletConnect $WCT

Regarding the distribution within tokenomics, the share associated with the team and investors is 30%, which is still reasonable. The rest is intended for ecosystem development or to reward users.

@WalletConnect #WalletConnect $WCT

For WalletConnect, here are the key information about the supply:
• Total Supply : $ 1,000,000,000 WCT  
• Maximum total supply : $ 1,000,000,000 WCT (no inflation initially planned)
• Initial Offer at time of listing : $ 186,200,000 WCT (18.62% of total offer)
• Launchpool Reward : $ 40,000,000 WCT (4% of total supply)

@WalletConnect #WalletConnect $WCT

Tokenomics refers to the distribution of token allocation among different stakeholders: this is an important aspect to ensure that no single stakeholder holds too large a share of the total supply.

@WalletConnect #WalletConnect $WCT

The strategy is legitimate,  but its execution will be critical for WalletConnect. If it fails, or if market conditions persist for several years, operators may be discouraged because their remuneration could become insufficient to continue operating.

@WalletConnect #WalletConnect $WCT

Furthermore, token generation will reflect the protocol's valuation, and market conditions can then seriously negatively impact its attractiveness for operators.

@WalletConnect #WalletConnect $WCT

Switching to this permissionless model is a serious challenge for WalletConnect.  The potential benefits are numerous, as it will increase the project's long-term credibility with greater transparency and improved operational resilience, but the transition may also slow down the speed of operations and create technical gaps. 

@WalletConnect #WalletConnect $WCT

Binance is a cornerstone of crypto. As long as the exchange dominates, BNB, the native token, will continue to capitalize on market sentiment, thriving amid volatility regardless of broader market conditions.

#BNBATH $BNB

The total supply of WCT coins is capped at 1 billion, and currently all of them are available on the Optimism Mainnet. Approximately 186.2 million coins, or 18.6%, are expected to be in circulation at the time of transferability.

@WalletConnect #WalletConnect $WCT