ChainCatcher reported that according to The Block, the Web3 communication protocol WalletConnect will launch its native token WCT on Optimism. WalletConnect said that registration for the WCT airdrop will open on September 24, and airdrop qualifications are based on the usage of the WalletConnect network.
WalletConnect CEO Houlgrave said the initial supply of WCT tokens is capped at 1 billion, of which 18.5%, or 185 million tokens, will be allocated to the first quarter airdrop. Houlgrave said the airdrop will cover WalletConnect's end users, as well as wallets, applications, nodes, software development kits, and communities that have contributed to WalletConnect's success.
To participate in the WCT airdrop, users must register by connecting their wallet, associating their GitHub account, and providing an email address. Eligibility requirements include having an Ethereum address, actively using WalletConnect, or contributing to open source projects. The first season of airdrops will end on October 11, when token distribution will take place. Any unclaimed tokens will be reallocated to future airdrop seasons. Initially, WCT tokens will not be transferable, and transfer functionality may be enabled in the future through community governance. Tokens cannot be transferred between wallets until full functionality is activated in 2025.
