TL;DR
- WalletConnect will launch its WCT token on April 15, with Binance, OKX, Bitget, and MEXC participating in community rounds starting at 5 a.m. EST.
- WCT will enable governance, fees, incentives, and staking features within the WalletConnect Network, although it won’t be transferable at launch.
- The distribution includes 27% for the foundation, 18.5% for airdrops, 18.5% for the team, with locked and gradually released allocations over several years.
WalletConnect will launch its native token, WCT, on April 15 as part of a strategy to decentralize its onchain connectivity infrastructure.
The initiative will be led by the WalletConnect Foundation and supported by several centralized exchanges, including Binance, OKX, Bitget, and MEXC, which will take part in community presale rounds scheduled for that same day at 5 a.m. EST.
WCT will play a key role in the operation of the WalletConnect Network. It will allow users to participate in governance, propose fees, and make decisions about the network’s long-term economic structure. Additionally, the token will be used to incentivize activity on the network and provide income-generating tools such as staking.
At the time of launch, the token will not be transferable. Both the foundation and token holders will need to vote jointly to enable trading at a later stage. According to the project’s whitepaper, this approach aims to protect system functionality and ensure that the network matures with a sustainable focus, without being affected by early speculative pressure.
How WalletConnect Tokens (WCT) Will Be Distributed
The WCT supply will be allocated across different groups. The WalletConnect Foundation will receive 27% of the total, while 18.5% will go to an airdrop and another 18.5% to the development team. A total of 17.5% will be designated for rewards, 11.5% for investors, and the remaining 7% for core developers. Tokens allocated to the team, developers, and investors will be subject to a four-year lockup, with a twelve-month cliff before the release begins. Airdrops will be distributed in multiple stages over the coming years.
WalletConnect specializes in enabling connections between externally owned accounts and Web3 applications. With the introduction of the WCT token, it aims to establish a more participatory and autonomous operational structure while continuing to expand the capabilities of its protocol in decentralized environments.
