A new airdrop in the sights. THE airdrops have become a common way of distribute a newly launched token to a community. So, more and more projects are using this method, with more or less success. Now, it is the turn of WalletConnect to announce the airdrop of its WCT token.
What is WalletConnect?
You have probably already seen it when connecting your wallet to a decentralized application. Indeed, WalletConnect is the bridge between decentralized applications (dApps) and crypto wallets.
In practice, it is a protocol that allows users to connect their wallets to decentralized applications. And this, in a secure way, without having to share their sensitive information.
Since its inception in 2018, WalletConnect has become an essential standard for more than 23 million users across the world.
WalletConnect unveils its own token: the WCT
On September 17, against all expectations, the teams of WalletConnect have announced the imminent launch of their own token: the WalletConnect Token (WCT).
In effect, the WCT will be the native token of the WalletConnect Network, the network that hosts WalletConnect activities.
Thus, the WCT token will have 4 key functions:
- Governance : WCT holders will be able to propose improvements to the network, such as defining the long-term economic model of the network;
- Awards : WCTs will be distributed by the network to provide incentives to maintain network security and efficiency;
- Staking : Users can stake WCT to receive rewards and participate in governance.
WalletConnect Airdrop: 185 Million WCT Ready to Surge
In parallel with this announcement, the WalletConnect teams have revealed that the WCT would be subject to a community airdrop.
So the token that will be deployed on layer-2 OP Mainnet (formerly Optimism), will be distributed to the community via a massive airdrop. In total, no less than 185 million WCT will be distributed.
With a total supply of 1 billion tokens, this means that 18.5% of the total supply will be distributed during airdrop season 1. This also means that further waves of distributions could be announced later.
The airdrop will include WalletConnect end users, as well as the wallets, apps, nodes, SDKs and communities that have contributed to WalletConnect’s success, WalletConnect CEO Jess Houlgrave told TheBlock.
Attention, the airdrop claim process has not started yet. This will be announced very soon and WalletConnect has promised clear and precise details on how to participate.
Don’t fall for scams which are multiplying on social networks and rely only on official announcements, published on the project’s social networks.
Let’s hope for WalletConnect that its airdrop will be successful. Indeed, Many protocols have recently seen their metrics collapse following the distribution of their airdrops.
