Since its inception in 2018, the WalletConnect Network has become a pivotal part of the onchain UX ecosystem, enabling over 150 million connections for more than 23 million users. The network has grown by 240% in the past year alone, playing a critical role in the $2+ trillion web3 landscape. Now, WalletConnect is entering a new phase: "decentralization".

My personal thought is that this is a clear cash grab. Anyhow, here's the story.

Introducing the Connect Token $WCT

WCT is a utility token that serves four key functions within the WalletConnect Network:

WCT holders can propose and decide on fees for network services.
The network distributes tokens as incentives to ensure security and efficiency.
Users can stake tokens to earn rewards and participate in governance.
WCT holders have a say in network development, fostering decentralized governance.

The WalletConnect Foundation, formed in 2024, aims to support the network's growth, security, and decentralization. By introducing $WCT, the foundation believes it will enhance utility and usability in web3, aligning incentives to improve user experience. Pedro Gomes, Director of the WalletConnect Foundation, highlights this as a pivotal step toward a thriving onchain future.

With over 40,000 app projects built on the WalletConnect Network, the ecosystem is set for continuous growth and innovation. As the network evolves, it opens up possibilities for advancements in identity, payments, security, and more, driving the mission to enhance UX in the digital landscape.

WalletConnect Inc. is now Reown, operating independently from the WalletConnect Network. For more details on AppKit, WalletKit, and other products, visit reown.com.

See WalletConnect's introduction video here:
https://x.com/WalletConnect/status/1835985897923162529

WalletConnect

Since its inception in 2018, the WalletConnect Network has become a pivotal part of the onchain UX ecosystem, enabling over 150 million connections for more than 23 million users. The network has grown by 240% in the past year alone, playing a critical role in the $2+ trillion web3 landscape. Now, WalletConnect is entering a new phase: "decentralization".

My personal thought is that this is a clear cash grab. Anyhow, here's the story.

Introducing the Connect Token $WCT

WCT is a utility token that serves four key functions within the WalletConnect Network:

1. WCT holders can propose and decide on fees for network services.
2. The network distributes tokens as incentives to ensure security and efficiency.
3. Users can stake tokens to earn rewards and participate in governance.
4. WCT holders have a say in network development, fostering decentralized governance.

The WalletConnect Foundation, formed in 2024, aims to support the network's growth, security, and decentralization. By introducing $WCT, the foundation believes it will enhance utility and usability in web3, aligning incentives to improve user experience. Pedro Gomes, Director of the WalletConnect Foundation, highlights this as a pivotal step toward a thriving onchain future.

With over 40,000 app projects built on the WalletConnect Network, the ecosystem is set for continuous growth and innovation. As the network evolves, it opens up possibilities for advancements in identity, payments, security, and more, driving the mission to enhance UX in the digital landscape.

WalletConnect Inc. is now Reown, operating independently from the WalletConnect Network. For more details on AppKit, WalletKit, and other products, visit reown.com.

See WalletConnect's introduction video here: 
https://x.com/WalletConnect/status/1835985897923162529

WalletConnect WCT

Onchain UX ecosystem