WalletConnect Token

WCT Price

About WalletConnect Token (WCT)

WalletConnect Token (WCT) is the native utility and governance token for the WalletConnect Network, an on-chain ecosystem designed to streamline user experience across decentralized applications.

• The network facilitates over 15 million monthly connections across more than 300 blockchain networks.
• WCT aligns the interests of users, applications, and wallets through a system of rewards and shared governance.
• The token powers the transition of the WalletConnect Network toward a permissionless and community-governed state.

What Is WalletConnect Token

WalletConnect Token (WCT) serves as the central economic and coordination mechanism for the WalletConnect Network. The network acts as an infrastructure layer that enables secure communication between wallets and decentralized applications (dApps). WCT is designed to incentivize participation from all stakeholders, including developers, wallet providers, and end users, ensuring the network remains resilient and censorship-resistant.

Value moves through the system primarily through the WalletConnect Pay framework. This commerce-focused model generates transaction fees from real-world and on-chain payments, which are then redistributed to the network's participants. Unlike many utility tokens that rely on speculative demand, WCT is positioned as the connective tissue that links payment activity to staking rewards and governance weight. As the ecosystem grows, this model is designed to create a self-reinforcing cycle where increased payment volume generates higher protocol service fees, which in turn fund better rewards for the community.

What Makes WalletConnect Token Unique

• Commerce-Driven Economic Model: WCT is integrated into WalletConnect Pay, a system modeled after traditional card networks that generates revenue from commerce transaction fees rather than just network usage.
• On-Chain UX Focus: While most infrastructure tokens focus on scalability or security, WCT specifically targets the user experience (UX) layer of the blockchain stack.
• Broad Ecosystem Footprint: Due to WalletConnect's existing role in the industry, the token is integrated with hundreds of leading dApps and wallets from its inception.
• Non-Inflationary Initial Design: The protocol does not contemplate token inflation for at least the first three to four years, focusing instead on distributing existing allocations and fee revenue.

What Can You Use WalletConnect Token for?

• Governance Participation: Holders can vote on protocol upgrades, changes to the network's development roadmap, and the implementation of new protocol service fees.
• Staking Rewards: Participants can stake their tokens to secure the network and earn rewards derived from fee revenue and a dedicated rewards pool.
• Ecosystem Rewards: WCT is used to distribute performance-based rewards to node operators and cashback-style incentives to end users and wallet providers participating in the payment network.
• Network Service Fees: While the network initially operates without direct user fees, governance can enable fees for specific services like relay usage, which would be managed through the WCT framework.

How Does WalletConnect Token Work?

The WalletConnect Token operates on Optimism, a Layer 2 scaling solution for Ethereum, utilizing its speed and low costs while inheriting the underlying security of the main network. The token's architecture is built around three core pillars: rewards, staking, and governance. When a transaction occurs through WalletConnect Pay, the merchant pays a protocol service fee. This fee revenue is directed into the network to fund interchange-style rewards for wallets and cashback for users.

Staking (the process of locking tokens to support network operations) is mandatory for participants who wish to influence the network's direction. Stakers receive governance weight proportional to their stake, allowing them to calibrate how rewards and potential buybacks are handled over time. To ensure long-term alignment, tokens allocated to the core team and early backers are subject to a four-year unlock schedule with a one-year cliff (a period during which no tokens are released).

Team Info and Investors

The WalletConnect Network is stewarded by the WalletConnect Foundation, a non-profit organization dedicated to the growth and decentralization of the protocol. Development is supported by reown, the entity responsible for the core technical implementation of the WalletConnect standards. The project has received backing from a diverse group of investors, with 11.5% of the initial 1 billion token supply allocated to previous backers who provided resources during the network's early stages. Governance of the network is transitioning to a decentralized model, where WCT holders will eventually have full control over the Foundation's operations and the network's technical evolution.

Where can you buy WalletConnect Token?

WCT tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade WalletConnect Token is Binance, where the most active trading pair WCT/USDT has a trading volume of $916,723.25 in the last 24 hours. Other popular options include Toobit and LBank.

What is the daily trading volume of WalletConnect Token (WCT)?

The trading volume of WalletConnect Token (WCT) is $13,919,074.31 in the last 24 hours, representing a -25.20% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for WalletConnect Token (WCT)?

WalletConnect Token (WCT) reached an all-time high of $1.34 and an all-time low of $0.04092. It’s now trading -96.90% below that peak and 3.00% above its lowest price.

What is the market cap of WalletConnect Token (WCT)?

Market capitalization of WalletConnect Token (WCT) is $7,832,062 and is ranked #1276 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of WCT tokens (190 Million tokens are tradable on the market today).

What is the fully diluted valuation of WalletConnect Token (WCT)?

The fully diluted valuation (FDV) of WalletConnect Token (WCT) is $42,062,594. This is a statistical representation of the maximum market cap, assuming the maximum number of 1 Billion WCT tokens are in circulation today. Depending on how the emission schedule of WCT tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of WalletConnect Token compare against its peers?

With a price decline of -11.90% in the last 7 days, WalletConnect Token (WCT) is underperforming the global cryptocurrency market which is down -3.40%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.