What is WalletConnect Token (WCT)?

TLDR WalletConnect Token (WCT) is the governance and utility token of the WalletConnect Network, a decentralized protocol enabling secure connections between crypto wallets and decentralized applications (dApps) across multiple blockchains.

1. Governance backbone – WCT holders vote on protocol upgrades and fee structures.
2. Staking & rewards – Stake tokens to earn rewards and secure the network.
3. Network utility – Powers relay services (messaging infrastructure) for seamless wallet-dApp interactions.

Deep Dive

1. Core Functionality

WCT is the economic and governance layer of WalletConnect, a protocol used by 23 million users and 600+ wallets to connect securely to dApps via QR codes or deep links. The token incentivizes participants to maintain the network’s relay infrastructure, which handles billions in transaction value annually (WalletConnect Docs).

2. Token Mechanics

• Supply: Capped at 1 billion, with 18.62% (186.2M) circulating as of August 2025.
• Allocations: 27% to the WalletConnect Foundation, 18.5% to airdrops, and 17.5% for network rewards.
• Transferability: Fully enabled since April 2025, allowing liquidity and broader participation.

3. Governance & Incentives

WCT holders govern fee structures (e.g., relay service pricing) and protocol upgrades. Stakers earn rewards for validating network operations, aligning incentives between users, wallets, and dApps. The token’s design avoids inflation initially but allows future adjustments via community voting.

Conclusion

WCT anchors a critical infrastructure layer for Web3, blending decentralized governance with economic incentives to scale secure wallet-dApp connectivity. As adoption grows, how will the community balance fee introduction and token utility to sustain network efficiency?