Question 1

What is WalletConnect (WCT)?

Accepted Answer

WalletConnect is a decentralised infrastructure network designed to enhance the user experience (UX) in web3 by enabling secure and seamless interactions between wallets and applications. Launched initially as a protocol in 2018, WalletConnect allows users to connect their mobile or desktop wallets to decentralised applications (dapps) via encrypted communication channels. It has since evolved into a broader network facilitating interoperability across chains including Ethereum, Solana, Cosmos, Polkadot, Bitcoin and others.

The WalletConnect Network introduces an onchain UX ecosystem, acting as a decentralised database and relay layer that connects users to apps across ecosystems in a permissionless, privacy-preserving and censorship-resistant way. Key components include:

- **Service Nodes**: Operate a distributed rendezvous-hashing based database that stores encrypted messages for offline retrieval.
- **Gateway Nodes**: Route encrypted traffic between wallets and applications.
- **Relay Service**: Enables end-to-end encrypted communications.
- **SDKs**: Simplify integration for apps and wallets.

The network is designed to gradually transition from a permissioned system (where node operators are selected) to a permissionless one. Governance is driven by WCT token holders, with decentralisation milestones coordinated by the WalletConnect Foundation.

Question 2

What is WalletConnect Token (WCT) used for?

Accepted Answer

The WalletConnect Token (WCT) is the native token of the WalletConnect Network and serves four main purposes:

1. **Staking**: Node operators and other participants must stake WCT to engage in network operations. Stakeweight—determined by both amount and lock duration—affects node rewards and governance influence.
2. **Governance**: WCT holders can vote on proposals that affect network development, such as enabling fee mechanisms or adjusting reward structures. Community governance is phased, starting with Foundation-led oversight and transitioning to WCT holder control.
3. **Rewards**: A portion of the WCT supply (17.5%) is allocated for incentivising participants. This includes staking rewards, node operation incentives based on uptime and latency, and wallet provider performance rewards.
4. **Fees**: While the network currently does not charge fees for usage, a governance-approved fee model may be introduced. When active, applications and SDKs—not end users—would pay fees using WCT.

Initially, WCT is non-transferable to maintain network stability, ensure tokens are used within the system, and avoid speculative trading. Token holders can still participate in staking and governance. Transferability may be enabled later through a governance vote.

Question 3

Who created WalletConnect (WCT)?

Accepted Answer

WalletConnect was created in 2018 by Pedro Gomes, a software engineer who aimed to solve the challenge of connecting mobile wallets with desktop-based decentralised applications. The initial version introduced the widely adopted QR code-based connection mechanism.

Since its inception, the project has evolved through contributions from a broader community and institutional support. The original WalletConnect organisation has rebranded as **Reown**, which continues to build products like AppKit and WalletKit, built on top of the WalletConnect Network.

To support its decentralisation goals, the **WalletConnect Foundation** was established. The Foundation is responsible for the governance transition, ecosystem development and maintaining the network's resilience and neutrality. It coordinates initiatives such as token distribution, grants and infrastructure expansion.

The transition from a single-entity-led protocol to a decentralised network is guided by a phased roadmap. Governance responsibilities are gradually shifting from Reown and the Foundation to the WCT tokenholder community, ensuring long-term sustainability and open development of the infrastructure.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	WCT-USDT WCTUSDT	binance	AA	0.04162USDT	-1.14%	22,414,946.90WCT	20,637	0.04210USDT	0.04383USDT
2	WCT-USDT WCTUSDT	bybit	A	0.04160USDT	-1.23%	3,748,991.10WCT	4,039	0.04212USDT	0.04359USDT
3	WCT-USDT WCT_USDT	whitebit	BB	0.04163USDT	-1.16%	2,725,790.90WCT	3,374	0.04212USDT	0.04361USDT
4	WCT-TRY WCTTRY	binance	AA	2.08TRY	0.05%	1,951,331.90WCT	595	2.08TRY	2.16TRY
5	WCT-USDT WCTUSDT_SPBL	bitget	BB	0.04176USDT	-0.78%	1,847,849.47WCT	1,694	0.04209USDT	0.04347USDT
6	WCT-USDT WCT-USDT	okex	A	0.04160USDT	-1.16%	1,779,379.93WCT	1,868	0.04209USDT	0.04356USDT
7	WCT-USD WCT-USD	coinbase	AA	0.04210USD	-0.47%	1,363,988.20WCT	420	0.04230USD	0.04440USD
8	WCT-USD WCTUSD	kraken	AA	0.04215USD	-0.17%	1,196,099.52WCT	316	0.04222USD	0.04416USD
9	WCT-USDT WCT_USDT	gateio	A	0.04161USDT	-1.21%	767,604.00WCT	1,552	0.04212USDT	0.04348USDT
10	WCT-USDC WCT_USDC	whitebit	BB	0.04157USDC	-1.31%	598,066.20WCT	655	0.04212USDC	0.04418USDC
11	WCT-USDT WCT-USDT	kucoin	BB	0.04165USDT	-1.58%	434,035.50WCT	374	0.04232USDT	0.04350USDT
12	WCT-USD WCT_USD	cryptodotcom	AA	0.04176USD	-1.21%	300,491.00WCT	352	0.04227USD	0.04338USD
13	WCT-USDC WCTUSDC	binance	AA	0.04197USDC	-0.36%	252,040.50WCT	420	0.04212USDC	0.04360USDC
14	WCT-EUR WCTEUR	kraken	AA	0.03728EUR	-1.22%	161,931.53WCT	90	0.03774EUR	0.03953EUR
15	WCT-EUR WCT-EUR	okex	A	0.03784EUR	0.83%	11,830.97WCT	16	0.03753EUR	0.03880EUR
16	WCT-USDC WCT-USDC	okex	A	0.04198USDC	-0.14%	7,381.16WCT	5	0.04204USDC	0.04296USDC
17	WCT-USD wctusd	gemini	A	0.04185USD	1.93%	4,601.84WCT	6	0.04106USD	0.04316USD
18	WCT-TRY WCT-TRY	okex	A	2.06TRY	0.00%	0WCT	0	2.06TRY	2.06TRY
19	WCT-USDT wct_usdt	lbank	C	0.04161USDT	-1.14%	79,382,050.50WCT	83,708	0.04209USDT	0.04340USDT
20	WCT-KRW KRW-WCT	upbit	B	56.50KRW	-1.57%	12,146,662.50WCT	1,617	57.40KRW	59.70KRW
21	WCT-TRY WCTTRY	btcturk	E	2.07TRY	-0.91%	7,418,761.90WCT	1,269	2.09TRY	2.26TRY
22	WCT-USDT wct_usdt	digifinex	D	0.04170USDT	-0.71%	4,342,867.99WCT	3,586	0.04200USDT	0.04340USDT
23	WCT-USDT WCTUSDT	toobit	C	0.04161USDT	-1.19%	3,624,319.10WCT	6,472	0.04211USDT	0.04343USDT
24	WCT-USDT WCT(NEW)_USDT	coinw	-	0.04168USDT	-1.07%	2,697,715.63WCT	1,822	0.04213USDT	0.04343USDT
25	WCT-USDT WCT_USDT	bitunix	C	0.04160USDT	-1.19%	2,194,594.90WCT	7,378	0.04210USDT	0.04350USDT
26	WCT-USDT WCTUSDT	bitrue	D	0.04160USDT	-1.42%	1,982,576.98WCT	5,287	0.04220USDT	0.04350USDT
27	WCT-USDT WCTUSDT	mexc	C	0.04160USDT	-1.19%	1,283,248.46WCT	2,925	0.04210USDT	0.04338USDT
28	WCT-USDC WCTUSDC	mexc	C	0.04157USDC	-1.19%	1,263,110.64WCT	2,968	0.04207USDC	0.04326USDC
29	WCT-USDT WCT-USDT	bingx	D	0.04158USDT	-1.26%	1,257,669.59WCT	7,002	0.04211USDT	0.04359USDT
30	WCT-EUR WCT-EUR	bitvavo	B	0.03764EUR	-0.90%	1,199,172.82WCT	163	0.03798EUR	0.03879EUR
31	WCT-KRW WCT_KRW	bithumbkorea	-	56.51KRW	-1.19%	807,733.56WCT	299	57.19KRW	58.74KRW
32	WCT-USDC WCT_USDC	cryptology	D	0.04160USDC	-0.91%	563,788.80WCT	1,436	0.04198USDC	0.04355USDC
33	WCT-USDT WCTUSDT	btcturk	E	0.04222USDT	0.17%	301,657.00WCT	24	0.04215USDT	0.04295USDT
34	WCT-USDT WCT_USDT	bydfi	-	0.04244USDT	0.00%	0WCT	0	0.04244USDT	0.04244USDT
35	WCT-IDR wctidr	indodax	E	746.00IDR	-0.80%	3,078.27WCT	19	752.00IDR	761.00IDR
36	WCT-USDC WCT_USDC	backpack	C	0.05625USDC	0.00%	0WCT	0	0.05625USDC	0.05625USDC
37	WCT-BTC BTC-WCT	upbit	B	0.0₆5200BTC	8.33%	846.15WCT	1	0.0₆4800BTC	0.0₆5200BTC
38	WCT-THB THB_WCT	bitkub	C	1.43THB	6.34%	716.65WCT	4	1.34THB	1.43THB
39	WCT-USDT WCTUSDT	coinex	C	0.04159USDT	0.00%	0WCT	0	0.04159USDT	0.04159USDT
40	WCT-INR WCTINR	coindcx	-	4.23INR	3.95%	643.44WCT	2	4.07INR	4.23INR
41	WCT-USDT WCTUSDT	hitbtc	E	0.03937USDT	0.00%	0WCT	0	0.03937USDT	0.03937USDT
42	WCT-KRW wct_krw	korbit	C	52.59KRW	0.00%	0WCT	0	52.59KRW	52.59KRW
43	WCT-KRW WCT_KRW	coinone	C	58.45KRW	2.19%	171.09WCT	1	57.20KRW	58.45KRW
44	WCT-USDT USDT-WCT	upbit	B	0.05543USDT	0.00%	13.23WCT	1	0.05543USDT	0.05543USDT
45	WCT-BRL WCT-BRL	mercadobtc	C	0.1990BRL	0.00%	0WCT	0	0.1990BRL	0.1990BRL