WalletConnect WCT Airdrop Registration Kicks Off
The Connect Token (WCT) serves as the native token of the WalletConnect Network, aimed at securing and upholding the network’s decentralization. WCT will be utilized for payments, rewards, staking, and governance voting.
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The Connect Token (WCT) serves as the native token of the WalletConnect Network, aimed at securing and upholding the network's decentralization. WCT will be utilized for payments, rewards, staking, and governance voting.
On the evening of September 24, WalletConnect opened registration for the WCT airdrop, the first step in distributing 18.5% of the tokens allocated for this event.
The remaining tokens will be distributed as follows:
- Development — 7%. For protocol development and related modules.
- Rewards — 17.5%. For staking and network participation incentives.
- Team — 18.5%. Allocated to the team members of Reown (an on-chain UX platform) and WalletConnect.
- Investors — 11.5%. For early supporters who contributed resources to the network.
- WalletConnect Foundation — 27%. To fund partnerships, grants, and ecosystem growth.
Registration for the first season of the airdrop is open until October 18, 2024, with token eligibility checks available in November. The official launch of WCT is expected by late 2024, though transferability of the tokens will be enabled at a later date.
A total of 50 million WCT tokens have been allocated for the first season. Although the exact criteria for token distribution remain unclear, it's expected that WalletConnect will take into account both network activity (such as transactions and cross-chain transfers) and developer contributions on Github.
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