On April 11, according to a reliable source, the on-chain WalletConnect solution will launch its native WCT Token on April 15. The release is managed by the WalletConnect Foundation with the goal of promoting the decentralization of the WalletConnect network, and WCT is the core component. Token owners can propose, discuss, and make decisions about fee adoption through the network's governance mechanism in a long-term economic model. WCT not only encourages network usage but also empowers owners in commitment and governance.
According to the WCT Whitepaper, this Token will not be immediately transferable, and the transaction timing will be decided by the WalletConnect Foundation and Token owners through voting. Based on the Whitepaper, "network functions, long-term planning, ecosystem development, and infrastructure protection" are the reasons why the Token is not immediately transferable.
The WCT supply distribution is as follows: 27% belongs to the WalletConnect Foundation, 18.5% is used for Airdrop activities, 18.5% is allocated to the team, 17.5% is used for rewards, 11.5% is distributed to investors, and 7% is for core developers. Tokens for developers, team, and investors have a four-year unlock period and a one-year lock period. Airdrop activities will be implemented in stages in the coming years.
The above content is only intended to provide market information and is not investment advice.
