WalletConnect Prepares to Launch Native Token with Airdrop
WalletConnect, a platform that links crypto wallets with decentralized applications (dApps), is set to launch its native token, Connect Token (WCT), on the Ethereum Layer 2 network Optimism. The company will airdrop 185 million WCT tokens to users, marking a major step towards decentralizing its operations.
Airdrop and Eligibility Details
Users who wish to participate in the WCT airdrop must register by linking their wallets and providing additional details like a GitHub account and email address. Eligibility for the airdrop is determined by previous engagement with WalletConnect or contributions to open-source projects. The first airdrop season will conclude on October 11, 2024, with any unclaimed tokens redistributed in future rounds.
Decentralization and Governance
The WCT token will initially be non-transferable to focus on network development and stability. However, once full functionality is achieved, the tokens will be used for governance and staking, empowering the community to guide the WalletConnect ecosystem. The newly established WalletConnect Foundation will oversee the protocol and ensure its long-term growth and decentralization.
Source: The Block
