WalletConnect has been a foundational piece of Web3 infrastructure since its launch in 2018, enabling seamless and secure connections between cryptocurrency wallets and decentralized applications (dApps) across various blockchains. To date, it has facilitated over 150 million connections for more than 23 million users, supporting 600 wallets and 40,000 applications.
With the upcoming launch of its native token, the Connect Token (WCT), WalletConnect is taking a major step toward decentralizing its network and empowering its community. This article explores what WCT is, its utilities, and how you can participate in its airdrop.
Understanding WalletConnect
WalletConnect is an open-source protocol that allows users to connect their crypto wallets to dApps on both web and mobile interfaces. It uses encrypted QR codes and deep linking to establish secure, end-to-end encrypted sessions between wallets and applications without compromising user privacy.
The platform is blockchain-agnostic, meaning it works across all major chains. Its reliability and ease of use have made it a critical tool in the Web3 ecosystem.
Introduction to the Connect Token (WCT)
WCT is the native utility and governance token of the WalletConnect network. It is designed to support network operations, incentivize participation, and facilitate community-led governance.
The token will be issued on the Optimism network (OP Mainnet), combining Ethereum's security with the scalability of a Layer-2 solution. The total supply is capped at 1 billion tokens.
Token Distribution
- 27% is allocated to the WalletConnect Foundation
- 18.5% is reserved for airdrops to users and contributors
- The remainder is dedicated to the team, investors, rewards, and ecosystem development
At launch, WCT will be non-transferable. This measure helps ensure tokens remain within the ecosystem to fulfill their functional roles. Transferability may be introduced later via community governance.
Core Utilities of WCT
WCT is not merely a governance token—it is built to be functional and incentive-aligned across the network.
Fee Mechanisms
While WalletConnect is currently free to use, the network may introduce fees in the future to cover relay service costs. These fees would be applied at the dApp or SDK level—not to end-users—to maintain a frictionless experience.
Reward Systems
A significant portion of the token supply (17.5%) is dedicated to rewards. Node operators and wallet providers can earn WCT based on performance and usage metrics.
Node operators are rewarded for maintaining uptime and reliability, while wallets can earn tokens by achieving minimum connection thresholds (e.g., 100,000 monthly successful connections).
Staking Features
WCT holders can stake their tokens for periods ranging from one week to two years. Longer staking commitments yield higher rewards. Tokens are locked for the staking duration, followed by a 7-day cooldown period before withdrawal.
👉 Explore staking opportunities and rewards
Governance Rights
WCT enables holders to participate in the decentralized autonomous organization (DAO) that will guide the network’s future. Token-based voting allows the community to propose and decide on key upgrades, partnerships, and policy changes.
How to Participate in the WCT Airdrop
The first season of the WCT airdrop is now closed for registration, but future seasons are planned starting in 2025. Here’s how eligible users could register:
- Visit the official WalletConnect airdrop portal
- Connect a supported wallet via WalletConnect
- Verify ownership by signing a message
- Link additional wallets or a GitHub account to maximize eligibility
Registration did not guarantee receipt of tokens—eligibility was based on historical on-chain activity and contributions to the ecosystem.
Eligibility Criteria
Eligibility for the airdrop was based on two main profiles: users and contributors.
Users were evaluated based on:
- Number of dApp connections via WalletConnect
- Transaction volume signed through the protocol
- General on-chain activity
Contributors were assessed on:
- Involvement in Chain-Agnostic Improvement Proposals (CAIPs)
- Contributions to Ethereum Improvement Proposals (EIPs)
- Usage of WalletConnect SDKs in EVM or non-EVM environments
- Impactful open-source projects in the Web3 space
A snapshot for Season 1 was taken on September 1, 2024. Only activity before that date was considered.
Frequently Asked Questions
What is WalletConnect?
WalletConnect is a protocol that enables secure connections between cryptocurrency wallets and decentralized applications across multiple blockchains using QR codes and encryption.
What is the WCT token used for?
WCT is used for governance, staking, rewards, and potentially fee mechanisms within the WalletConnect ecosystem. It aims to decentralize network operations and incentivize participation.
Can I still participate in the WCT airdrop?
Registration for Season 1 ended in October 2024. However, future airdrop seasons are planned—stay updated through official WalletConnect channels.
Is WCT transferable?
Not initially. The token is non-transferable at launch to ensure it serves its intended utility. Future transferability will be decided via community governance.
Which blockchain is WCT on?
WCT is minted on the Optimism network (OP Mainnet), an Ethereum Layer-2 solution.
Do I need to pay to use WalletConnect?
No. WalletConnect is free for end-users. Any future fees would be directed at dApps or developers, not users.
Final Thoughts
The introduction of the Connect Token marks a new chapter for WalletConnect—transitioning from a widely-used tool to a community-owned and operated network. Through staking, governance, and rewards, WCT aligns the interests of users, developers, and node operators toward a shared vision of an open and decentralized future.
Always verify the authenticity of any airdrop website or application before connecting your wallet or sharing personal data.
👉 Learn more about token governance and airdrop best practices