WalletConnect, a leading web3 communications protocol, has revealed its plans to introduce the Connect Token (WCT) on the Optimism network. The launch includes a substantial airdrop of 185 million WCT tokens, but with a notable restriction—these tokens will remain non-transferable until 2025.
Understanding the Non-Transferable WCT Tokens
This initiative is part of WalletConnect's broader strategy to improve its on-chain user experience (UX) ecosystem. The Connect Token is designed to empower users and developers, fostering a more interconnected digital environment.
Key details about the token distribution:
- The total supply of WCT tokens is capped at 1 billion.
- 18.5% of the supply (185 million tokens) is allocated for the initial airdrop.
Eligibility Criteria for the Airdrop
To qualify for the airdrop, participants must meet one or more of the following requirements:
- Possess an Ethereum address.
- Demonstrate active engagement with WalletConnect.
- Contribute to open-source projects.
Additional steps include:
- Linking a wallet.
- Integrating a GitHub account.
- Providing a valid email address.
Note: Wallets or IP addresses under sanctions will be excluded to ensure fair distribution.
Airdrop Timeline and Unclaimed Tokens
The token distribution is scheduled for October 11. WalletConnect will evaluate participants' historical engagement with the network before disbursing tokens.
- Unclaimed tokens will be redirected to future airdrops, offering ongoing opportunities for community involvement.
Utility of Non-Transferable Tokens
Despite being non-transferable, WCT tokens will be immediately functional within the WalletConnect ecosystem for:
- Governance voting.
- Staking mechanisms.
WalletConnect emphasizes that this restriction aims to prioritize network stability and functionality over market speculation.
“WCT plays a key role within the WalletConnect Network, helping to fuel UX innovation across web3 and enable a more usable on-chain landscape,” — WalletConnect Team.
Core Functions of WCT Tokens
- Fee proposals.
- Reward distributions.
- Staking mechanisms.
This structure allows WCT holders to:
- Access network services.
- Participate in decentralized governance.
WalletConnect Growth Metrics
- 150 million connections facilitated.
- 4 million monthly active users.
- 240% growth over the past year.
👉 Learn more about WalletConnect's ecosystem
Frequently Asked Questions (FAQs)
1. Why are WCT tokens non-transferable until 2025?
WalletConnect aims to ensure network stability and discourage speculative trading before the ecosystem matures.
2. How can I participate in the airdrop?
You need an Ethereum address, active engagement with WalletConnect, or contributions to open-source projects. Additional steps include wallet linking and GitHub integration.
3. What happens to unclaimed airdrop tokens?
Unclaimed tokens will be reallocated to future airdrops, giving more users opportunities to participate.
4. Can I use WCT tokens before 2025?
Yes, they are usable for governance and staking within the WalletConnect ecosystem immediately.
5. What is the total supply of WCT tokens?
The supply is capped at 1 billion, with 185 million (18.5%) allocated for the first airdrop.
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Disclaimer: This content is for informational purposes only. Always conduct independent research and consult professionals before making financial decisions.