WalletConnect’s WCT Listed On LaunchX, Offering Early Access To The Token
In Brief
WalletConnect introduced its token, WCT, on LaunchX hosted by BitGet, allowing participants to acquire the token from a 20 million pool at a valuation aligned with recent private offerings.
Open-source connectivity protocol WalletConnect announced the introduction of its token, WCT, through the LaunchX campaign hosted by cryptocurrency exchange BitGet. This initiative allows participants to acquire WCT from a pool of 20 million tokens at a valuation aligned with recent private offerings. The subscription round is scheduled to run from February 17 at 10:00 UTC+8 to February 19 at 10:00 UTC+8.
A total of 20 million WCT, accounting for 2% of the total supply, has been allocated for LaunchX. The token price is set at $0.20 per WCT, with USDT as the commitment currency. Participants must commit a minimum of 100 USDT, while the maximum individual commitment is 10,000 USDT. The subscription hard cap is 50,000 WCT.
LaunchX follows a commitment–subscription model, where a participant’s token allocation is determined by the proportion of their commitment relative to the total committed funds. However, no individual allocation can exceed the subscription hard cap, and commitments cannot surpass the maximum individual limit.
What Is WalletConnect And The WCT Token?
Since 2018, WalletConnect has facilitated seamless and secure interactions between wallets and decentralized applications, serving as a gateway to the on-chain economy. With over 20 million monthly connections, the platform is evolving into a permissionless ecosystem driven by its native token, WCT, and a growing community of 35 million users. WCT reflects WalletConnect’s vision of a decentralized, community-driven infrastructure aimed at enhancing the on-chain user experience. As part of this initiative, the Token Community Round provides early access to WCT at a fair market valuation with no lock-up period for participants.
The WCT token plays a key role in enhancing the on-chain user experience ecosystem, serving as both a reward mechanism and a governance tool. It is utilized for various purposes, including network transaction fees, staking rewards, and enabling community participation in decision-making and governance processes.
According to its tokenomics, the total supply of WCT is 1 billion tokens, with the distribution allocated as follows: 27% is allocated to the WalletConnect Foundation to support partnerships, grants, ecosystem development, and operational needs. 18.5% is set aside for seasonal airdrops to users, apps, wallets, nodes, and other ecosystem participants. Another 18.5% is reserved for team members of WalletConnect. 17.5% is designated for staking incentives and performance-based rewards. 11.5% is allocated to backers who supported the project in its early stages. Finally, 7% is dedicated to the ongoing development of the protocol and its related infrastructure.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
