What is WalletConnect Token (WCT)?
WalletConnect Token (WCT) is the governance and utility token of the WalletConnect Network, the protocol that powers the end-to-end encrypted link between wallets and decentralized applications. Behind the familiar QR code users scan to connect a wallet to a dApp lies this infrastructure, and WCT is the native asset designed to steer it toward a permissionless, community-owned future.
What does the WCT token do within the network?
WCT serves four main functions. First, it allows holders to stake tokens to support network security and earn rewards—a feature active since day one. Second, it anchors governance: holders vote on protocol upgrades, fee parameters, and other key decisions that shape the network's evolution. Third, WCT is intended as the payment medium for network services such as message relaying, although the full fee mechanism is rolling out gradually. Fourth, it acts as an incentive layer, rewarding node operators, wallet providers, and SDK maintainers for their contributions. The staking and governance utilities were live at launch, while the fee structure was designed to phase in over time as the network matures.
How does the network's decentralization work?
Founded by Pedro Gomes in 2018, WalletConnect grew into the de facto connection layer of Web3 before embarking on a structured path to decentralization. In 2024 the WalletConnect Foundation was established to shepherd this transition. The network itself runs on two node types: service nodes that store data, and gateway nodes that relay encrypted messages between wallets and applications. Established infrastructure firms including Consensys, Ledger, and Figment operate these nodes. The decentralization roadmap moves from Foundation stewardship through specialized councils, eventually handing full authority to a DAO where WCT holders approve budgets and elect council members, giving the community direct influence over the protocol's direction.
On which chains does WCT exist and how is its supply structured?
WCT launched on Optimism's OP Mainnet in the final quarter of 2024, initially as a non-transferable token. The community later voted to enable transfers in 2025, and the token now also lives on Ethereum, Solana, and Base. Its total supply is capped at 1 billion WCT, with no built-in inflation in the original design. A large portion of the supply remains locked and is scheduled for release through 2028, meaning the circulating amount increases over time as cliffs unlock and seasonal distributions occur.
