What is WalletConnect (WCT)?

Image:https://walletconnect.network/

If you’ve used a Web3 application, chances are you’ve seen that familiar blue icon—that’s WalletConnect. Just like Visa in the traditional payment world, WalletConnect is the most trusted connection network in the blockchain space. It helps users easily connect their wallets to various on-chain applications like DeFi, NFTs, staking, and trading, serving as a key driver in the user experience (UX) revolution in crypto.

Since its launch in 2018, WalletConnect has supported over 15 billion connections, with more than 45 million users, compatibility with over 600 wallets, and integration with over 40,000 applications. It has effectively become the de facto standard for “connectivity” in the Web3 world.

Why is WalletConnect Important?

1. Chain-agnostic Connection Protocol

WalletConnect does not rely on a specific blockchain. Whether you’re using Ethereum mainnet, Solana, Cosmos, Polkadot, or Bitcoin, WalletConnect enables seamless wallet-to-app connections.

2. End-to-end Encrypted Communication

All connections are end-to-end encrypted. WalletConnect does not store user addresses, transaction hashes, or any KYC information. This high level of privacy protection makes it an ideal infrastructure for future on-chain payments and identity verification.

3. Mobile-first and User-centric

From the beginning, WalletConnect was built to solve the problem of “how to connect mobile wallets with desktop Dapps.” Now, with development kits like AppKit and WalletKit, WalletConnect continues to prioritize users first, refining every detail of the connection experience.

WalletConnect Is Moving Toward Decentralization

As the ecosystem matures, WalletConnect has officially launched its native token — WCT (WalletConnect Token) — with the goal of gradually transitioning the connection network into a permissionless, community-governed, and transparently verifiable infrastructure. The core utilities of WCT include:

• Staking: Nodes, wallets, and SDKs can stake WCT to participate in network operations and earn rewards.
• Governance: Token holders can vote on protocol upgrades, fee implementations, incentive distribution, and other governance matters.
• Rewards: High-quality service nodes, wallets, and developer tools will be rewarded with WCT.
• Future Fee Mechanism (Fees): The network may charge Dapps or SDKs in the future, with WCT serving as the payment method.

Currently, WCT is non-transferable, but can be used for staking and governance. This phase is designed to secure the network, prevent early-stage speculative activity, and encourage genuine ecosystem participants to actively contribute to building the network.

Who Participates in the WalletConnect Network?

The WalletConnect network is composed of several key roles:

1. Service Nodes

These run databases and relay services to ensure stable and fast information transmission. Nodes are required to stake WCT and receive rewards based on uptime and response speed. Underperforming nodes may be penalized or even “banished.”

2. Gateway Nodes

Responsible for routing traffic and optimizing connection speeds. Initially operated by the company Reown, these nodes will gradually be opened up to the community over time.

3. Wallets

Examples include MetaMask, Rainbow, Trust Wallet, etc. Any wallet that integrates WalletConnect can seamlessly support all connected Dapps.

4. Application (Apps)

Whether it’s an NFT platform or a DeFi protocol, any app can quickly integrate into the WalletConnect network via the SDK.

5. Most importantly — End Users

Every user who connects a wallet to an app is an active participant in the WalletConnect network. In the future, WCT holders will be able to take part in governance, submit proposals, and gain early access to test new features.

WCT Token Distribution

Image:https://docs.walletconnect.network/token-dynamics/

The initial supply of WCT is 1 billion tokens, distributed as follows:

• 27% allocated to the WalletConnect Foundation for ecosystem development
• 18.5% for team incentives (4-year linear vesting)
• 18.5% for community airdrops, including wallets, apps, and nodes
• 17.5% reserved for staking and performance rewards
• 11.5% allocated to early supporters
• 7% for core protocol development

Whether to introduce a future inflation mechanism will be determined by community governance.

The Future of WalletConnect

WalletConnect’s vision is to become the “communication protocol stack” of Web3 — much like TCP/IP is to the internet — serving as the universal standard for all on-chain connections. The upcoming roadmap includes:

• Fully opening up service node access
• Launching audit nodes to monitor performance and security
• Supporting wallet and app NFT registration
• Introducing a community proposal feature to enable WCT holders to co-govern and co-build

With the launch of WCT, WalletConnect is no longer just a “connection protocol” — it is evolving into a community-owned and operated connection network that brings a true user experience upgrade to Web3.

Gate.io to Launch WCT Spot Trading

Gate.io will launch spot trading for WalletConnect (WCT) on April 15, 2025, at 19:00 (UTC+8). Users can trade via the following link:https://www.gate.io/trade/WCT_USDT

Please note: New listings tend to be highly volatile. Trade with caution and be mindful of the risks.