How to Earn WalletConnect (WCT) Tokens on Binance Launchpool: An Airdrop Guide

Disclaimer

This guide is for informational purposes only. The token(s) discussed as potential rewards may not have launched yet or may never launch. Users should conduct their own research and exercise caution before investing or signing any transactions. CoinMarketCap is not responsible for any losses or damages that may result from using this information. Never invest more than you can afford to lose.

With 40 million WCT tokens (4% of the total supply) allocated specifically for Launchpool rewards, this presents a significant opportunity for crypto holders to earn tokens from a project that has facilitated over 150 million connections for 24 million users across more than 600 wallets and 40,000 applications.

The farming period begins on April 11, 2025, giving participants a chance to earn rewards over four days before WCT officially lists on Binance.

How to Claim WalletConnect (WCT) Token Airdrop?

The process involves locking your eligible assets into dedicated pools to earn WCT rewards. Here's a detailed breakdown of how to join:

Step 1: Update Your Binance App

Before you begin, ensure you're using Binance App version 2.89.0 or higher. This update is necessary to access the latest Launchpool features and ensure a smooth farming experience.

Step 2: Prepare Your Assets

The WCT Launchpool supports three different assets for farming:

• BNB (85% of rewards - 34,000,000 WCT)
• FDUSD (5% of rewards - 2,000,000 WCT)
• USDC (10% of rewards - 4,000,000 WCT)

Make sure you have sufficient balances of any of these assets in your Binance Spot Account before the farming begins.

Step 3: Access the Launchpool Page

Step 4: Lock Your Assets

Select which pool(s) you wish to participate in based on the assets you own. You can participate in multiple pools simultaneously, but each token can only be locked in one pool at a time. For example, you can split your BNB holdings, allocating 50% to one pool and 50% to another, but you cannot use the same BNB in multiple pools.

Step 5: Monitor and Claim Rewards

Once farming begins on April 11, 2025, at 00:00 UTC, your rewards will accumulate hourly. Binance will take snapshots of user balances throughout each hour to calculate the average balance and determine rewards. You can claim your accumulated WCT tokens to your Spot Account at any time during the farming period.

Step 6: Prepare for Trading

After the farming period ends on April 14, 2025, WCT will be listed for trading on Binance on April 15, 2025, at 11:00 UTC. At this point, you can trade your earned WCT tokens through the following trading pairs: WCT/USDT, WCT/USDC, WCT/BNB, WCT/FDUSD, and WCT/TRY.

Understanding the WalletConnect Network

Now that we've covered how to participate in the Launchpool event, let's examine what makes WalletConnect a significant project in the blockchain space.

The Evolution of WalletConnect

Founded in 2018, WalletConnect began as a solution to a specific user experience problem: enabling dapps written for desktop to connect with mobile wallets. This solution evolved into the now-familiar QR code scanning method that millions of web3 users utilize to connect their wallets to applications.

Since its inception, WalletConnect has expanded its capabilities to address various UX challenges in the web3 space, including enabling wallet usage in mobile apps and browsers, supporting multiple extension wallets, and creating a simpler Sign-in With Ethereum (SIWE) experience. The protocol has also extended beyond Ethereum to support multiple blockchain networks, making it truly chain-agnostic.

WalletConnect's Technical Infrastructure

At its core, the WalletConnect Network consists of several key components:

1. Relay Service: This facilitates end-to-end encrypted connections between wallets and applications, ensuring that sensitive information like wallet addresses and transaction data remains private.
2. Service Nodes: These database nodes are responsible for storing encrypted messages and facilitating efficient data retrieval. In the current network structure, there are Active, Reserve, Standby, Jailed, and Deactivated nodes, each with specific roles.
3. Gateway Nodes: These nodes facilitate communications between wallets and applications, optimizing connection speeds and reducing latency.

The WalletConnect Network is designed with decentralization in mind, gradually transitioning from a permissioned environment to a fully permissionless model. This transition aims to enhance network resilience and censorship resistance, aligning with web3's core principles.

WCT Token Economics and Utility

Understanding the token's distribution and utility provides insight into its potential value within the ecosystem.

Token Distribution

The total supply of WCT is capped at 1 billion tokens, with the following allocation:

• Core Development: 7% (70,000,000 WCT)
• Rewards: 17.5% (175,000,000 WCT)
• Airdrops: 18.5% (185,000,000 WCT)
• Team: 18.5% (185,000,000 WCT)
• Previous Backers: 11.5% (115,000,000 WCT)
• WalletConnect Foundation: 27% (270,000,000 WCT)

For the Binance Launchpool specifically, 40,000,000 WCT (4% of the total supply) has been allocated for rewards.

Initial Circulation and Vesting

When WCT is listed on Binance, the initial circulating supply will be 186,200,000 WCT, representing 18.62% of the total token supply. Tokens allocated to core development, team, and previous backers will be subject to a 4-year unlock schedule, including a 1-year cliff starting from the token generation event.

Token Utility

The WCT token serves four primary functions within the WalletConnect ecosystem:

1. Staking: Participants can stake their tokens to earn rewards and participate in governance. Service node operators, for instance, must stake a minimum of 100,000 WCT with at least a 52-week timelock to participate.
2. Governance: Token holders can influence the network's direction by voting on proposals and changes, giving the community control over its evolution.
3. Rewards: Tokens are distributed as rewards to incentivize participation and contribute to network security and efficiency.
4. Fees: In the future, token holders may vote on implementing fees for network services, though initially, the network will not charge fees.

Reward Distribution and Hourly Caps

Understanding how rewards are distributed can help you optimize your farming strategy.

Pool Distribution

The 40,000,000 WCT allocated for Launchpool rewards is divided among three pools:

• BNB Pool: 34,000,000 WCT (85% of rewards)
• FDUSD Pool: 2,000,000 WCT (5% of rewards)
• USDC Pool: 4,000,000 WCT (10% of rewards)

Daily Rewards

The farming period spans four days, with 10,000,000 WCT distributed each day across all pools:

• BNB Pool: 8,500,000 WCT daily
• FDUSD Pool: 500,000 WCT daily
• USDC Pool: 1,000,000 WCT daily

Hourly Caps

To ensure fair distribution, Binance has implemented hourly caps per user:

• BNB Pool: 35,416 WCT per hour
• FDUSD Pool: 2,083 WCT per hour
• USDC Pool: 4,166 WCT per hour

These caps limit the maximum amount of WCT a single user can earn within an hour, preventing whales from claiming a disproportionate share of rewards.

Special Participation Rules

Several special rules apply to the WCT Launchpool that may affect your participation:

Automatic Participation for BNB Holders

Users who have BNB locked in Flexible Products and Locked Products, including Binance BNB Simple Earn and On-chain Yields Products, will automatically participate in the Launchpool and receive token rewards. This means you don't need to manually lock your BNB if it's already staked in these products.

Multiple Launchpools

If there are multiple Launchpool projects running simultaneously, your BNB assets in Flexible Products and Locked Products will be split and allocated equally to each project unless otherwise specified.

Collateral Exclusion

BNB Flexible Products assets used as collateral for Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.

Specialized BNB Support

Staked Lista BNB (slisBNB) and Lista collateral BNB (clisBNB) in Binance Keyless Wallet will be supported in Launchpool reward calculations.