WalletConnect Launches WCT With Airdrop 185 Million Tokens

JAKARTA - WalletConnect, a crypto wallet linking platform with a decentralized application (dApp), announced the launch of their original token, WCT. The token was developed on Ethereum's Layer 2 network, Optimism. Not only that, this launch is accompanied by an airdrop of 185 million WCT tokens which aims to give users more control over platform governance and economy.

Starting September 24, 2024, users can register to take part in the airdrop, provided that they are feasibility based on their previous activities on the WalletConnect platform. WalletConnect CEO Jess Houllgrave said WCT will play an important role in decentralizing governance and strengthening community engagement.

WCT's total supply reaches 1 billion, with 18.5% or 185 million tokens allocated for airdrops. Users, developers, and node operators who contribute to the development of this network will receive tokens. However, sanctioned IP wallets or addresses will not be allowed to join this program. Registration expires on October 11, 2024, with token distribution done afterwards.

In the early stages, WCT tokens cannot be moved and used only for governance and staking, maintaining focus on network stability. The transfer of tokens is expected to start in 2025, depending on community decisions.

Several large companies such as Consensys, Ledger, and Figment are already involved in the WalletConnect ecosystem, asserting WalletConnect's position as an important infrastructure in the Web3 world.

WalletConnect founder Pedro Gomes insists that the growth of this platform is very fast. With the launch of WCT, WalletConnect is getting closer to becoming a major decentralized network in blockchain-based communications. Gomez noted that since its launch in 2018, WalletConnect has grown rapidly.

"From the start, our goal was to make WalletConnect a decentralized and important infrastructure for the new internet. With the launch of WCT, we have seen 240% growth in the last 12 months and facilitated more than 150 million connections. WCT will drive further growth and attract more partners," Gomez said as quoted by CoinSpeaker.