The WalletConnect Token (WCT) serves as the backbone of the WalletConnect Network, powering an onchain UX ecosystem that incentivizes users, apps, and wallets to collaboratively enhance web3 experiences. Launched on Optimism’s OP Mainnet, WCT leverages Ethereum’s security and OP Mainnet’s scalability.
WCT is designed for long-term network sustainability, offering governance, staking, fee management, and reward distribution utilities. Token holders gain influence over web3 UX standards and contribute to decentralized innovation across multiple blockchains.
With an early token release slated for late 2024, key contributors—including developers, wallet providers, and node operators—can begin earning rewards while shaping the future of decentralized connectivity.
Core Utilities of the WalletConnect Token (WCT)
WCT fulfills four primary roles within the ecosystem:
1. Network Fees
- Fees ensure the economic sustainability of the WalletConnect Network.
- Initially, no fees will be charged, but governance may introduce a Monthly Active User (MAU) model for relay services as the ecosystem matures.
- Future fee structures (e.g., for premium features) may require payments in WCT.
2. Rewards System
- 17.5% of the total token supply is reserved for incentivizing early network participants.
- Rewards target wallet providers, node operators, and other contributors based on performance metrics (e.g., uptime, usability improvements).
- Programs like WalletConnect Certified align incentives with web3 UX standards.
👉 Learn how to maximize your WCT rewards
3. Staking Mechanism
- Token holders can stake WCT to support network stability and earn rewards.
- Stake weight, lock-up periods (1 week to 2 years), and auto-renewal features optimize returns.
- Rewards are proportional to stake size and duration, with anti-centralization caps.
4. Decentralized Governance
- WCT holders vote on proposals via a DAO structure, gradually transitioning control from the WalletConnect Foundation to the community.
- Technical and Partnerships Councils will oversee specific network functions.
- Governance phases include budget approvals, council elections, and fee model adjustments.
Token Allocation & Inflation
- Total Supply: 1 billion WCT.
Distribution:
- Core Development (7%)
- Rewards (17.5%)
- Airdrops (18.5%)
- Team & Backers (30%)
- WalletConnect Foundation (27%)
No inflation is planned initially, but governance may introduce it later to sustain reward pools.
Transferability & Airdrops
- WCT becomes transferable in 2025, aligned with the network’s decentralization roadmap.
- Airdrop seasons begin in late 2024 for early contributors.
To stay updated:
- Follow WalletConnect on X.
- Subscribe to their newsletter.
👉 Explore WalletConnect’s roadmap
FAQs
Q: How can I earn WCT tokens?
A: Participate in staking, node operation, or governance; qualify for airdrops by using WalletConnect-integrated apps.
Q: Is WCT an ERC-20 token?
A: Yes, it’s deployed on OP Mainnet (Ethereum L2).
Q: When will governance voting begin?
A: Phase 1 starts in 2025, with incremental decentralization.
Q: Are fees mandatory for using WalletConnect?
A: Not initially—fee structures will be community-approved.
Q: How are staking rewards calculated?
A: Based on stake weight, lock-up duration, and network performance.
Disclaimer: This content is for informational purposes only. Always conduct independent research before participating in token ecosystems.
### SEO Keywords:
- WalletConnect Token (WCT)
- Onchain UX ecosystem
- OP Mainnet
- Decentralized governance
- Web3 rewards
- Staking crypto