What is WalletConnect Token (WCT)?

Deep Dive

1. Purpose & Value Proposition

WCT exists to decentralize and sustain the WalletConnect Network. This network is a critical piece of Web3 infrastructure, enabling over 150 million secure connections between wallets and dApps. The token empowers its community of users, app developers, and wallet providers to collectively govern and improve the onchain user experience, moving control from a single foundation to a decentralized autonomous organization (DAO).

2. Tokenomics & Governance

The total supply is capped at 1 billion WCT. Allocations support long-term growth, with 17.5% for rewards, 18.5% for team and backers, and 27% held by the WalletConnect Foundation for ecosystem development. Governance is designed to transition from foundation stewardship to full community control. Tokenholders vote on key decisions, such as implementing network fees or electing specialized councils to manage technology and partnerships.

3. Ecosystem Fundamentals

WCT has four core functions within the ecosystem. It will be used to pay relay fees for network services, creating a sustainable economic model. A portion of the supply rewards participants like wallet providers and node operators for performance. Staking allows holders to lock tokens to earn yields and support network stability. Ultimately, all these utilities feed into community governance, giving holders a direct stake in shaping the protocol's roadmap.

Conclusion

Fundamentally, WCT is the economic and governance engine for decentralizing the essential connectivity layer of Web3. How will its community-driven model evolve to standardize onchain user experience across all blockchains?