What's that Wallet Connect: Definition, WCT Token and Airdrop

Bittime - WalletConnect, launched in 2018, has become an essential service for crypto wallet users to connect with decentralized applications (dApps) via blockchain networks. 

This technology enables connections via deep linking and encrypted QR codes, providing security and convenience in transactions. With a working model that fully supports multiple blockchains, WalletConnect has helped overcome connectivity barriers in the Web3 ecosystem.

What is WalletConnect?

WalletConnect is a blockchain-based user experience (UX) ecosystem that allows users to connect their crypto wallets with dApps, both via web and app. 

The system processes requests from applications, forwards them to the user's wallet for approval, and protects the data with end-to-end encryption.

What is WCT Token?

Connect Token (WCT) is the native token of the WalletConnect Network. WCT is used to set future governance, staking, rewards and fee structures. WCT's total supply is capped at 1 billion tokens, with 18.5% allocated for airdrops to qualified users and contributors. 

WCT was first published on the Optimism network, a Layer 2 solution on top of Ethereum, which offers Ethereum security with higher transaction speeds.

Token Function WCT 

WCT supports several functions, including:

1. Governance: Token holders can propose and vote in network decisions.
2. Staking: Users can lock tokens for a certain period to earn higher rewards.
3. Award: WCT is used to provide incentives to service nodes and wallets that perform well.
4. Cost: Future fees may apply to applications or SDKs that utilize WalletConnect services.

WCT Airdrop Program

As much as 18.5% of the total WCT supply will be distributed via airdrop over several seasons. In the first season, 50 million WCT (approximately 5% of the total supply) will be distributed, with 40 million tokens going to users and the rest going to contributors. 

Conclusion

WalletConnect continues to develop with new innovations through WCT tokens and airdrop programs. For crypto users, this is an exciting opportunity to participate in this ever-growing ecosystem. Make sure to follow the latest information so you don't miss the airdrop and other new features!

FAQ 

What is WalletConnect?

WalletConnect is a blockchain ecosystem that allows users to connect their crypto wallets with decentralized applications (dApps) using deep links or encrypted QR codes.

What is the function of the WCT token?

WCT tokens are used for governance, staking, rewards, and supporting the WalletConnect Network ecosystem.

How to Buy Crypto on Bittime

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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

Wallet Connect, Whitepaper Wallet Connect, Accessed January 15, 2025

Wallet Connect Network, Introducing WCT Token, Accessed January 15, 2025