WalletConnect (WCT): Your Seamless Link to DApps, Wallets, and the Crypto World

Modified on Tue, 23 Sep at 6:58 PM

As the Web3 universe expands, the demand for smooth and secure interactions between users and decentralized applications (dApps) grows exponentially. These interactions demand both fluidity and robust security between digital wallets and dApps. This is precisely the challenge WalletConnect aims to solve, acting as a crucial "socket layer" that links these two essential components. For crypto enthusiasts and anyone curious about the foundational workings of the decentralized web, understanding WalletConnect and its WCT token offers a vital glimpse into the future of digital interactions.

What is WalletConnect?

WalletConnect is an open-source, decentralized protocol that establishes secure, encrypted connections between crypto wallets and dApps. It doesn't function as a wallet itself, nor does it facilitate direct cross-chain asset transfers. Instead, it acts as a universal communication layer, allowing users to interact with thousands of dApps across various blockchain networks without ever revealing their private information.

The technology behind WalletConnect relies on an encrypted session initiated by scanning a QR code or using deep linking. This creates a secure WebSocket connection between your mobile wallet and the dApp. Crucially, your private keys remain safely stored within your wallet; WalletConnect simply relays transaction requests from the dApp for your explicit approval. This architecture, powered by a decentralized network of relay service nodes, ensures real-time, end-to-end encrypted communication, making it a robust and secure standard for Web3 interactions.

Standout Features of WalletConnect

WalletConnect's widespread adoption comes from its compelling features:

Universal Compatibility: It supports over 600 wallets and connects to more than 150 blockchain networks, including Ethereum, Solana, Polkadot, and Bitcoin, ensuring broad access.
Advanced Security: Your private keys and sensitive data are never exposed to dApps, and all communications are end-to-end encrypted. Every transaction requires your explicit approval, giving you full control.
Seamless User Experience: It eliminates the need for browser extensions and simplifies connecting mobile wallets to desktop dApps via QR codes, creating a truly fluid user journey.
Developer-Friendly: WalletConnect provides a universal standard for wallet interaction, significantly simplifying the development process for dApp creators.
Sign-In With Ethereum (SIWE): It offers a streamlined and more secure method for Web3 authentication, improving user logins across dApps.

Who Founded WalletConnect?

Pedro Gomes founded WalletConnect in 2018. His vision was to simplify the interaction between wallets and dApps, making Web3 more accessible to a wider audience. Under his leadership, WalletConnect has grown into a leading infrastructure provider in the Web3 space, bridging the gap between users and decentralized applications. Today, Pedro Gomes serves as the Director of the WalletConnect Foundation, continuing to guide the network's development toward a fully decentralized and permissionless model.

What is the WCT Token?

WCT is the native utility and governance token of the WalletConnect Network. It's an ERC-20 token, initially launched on Optimism's OP Mainnet and now leveraging Wormhole's Native Token Transfers for multi-chain operability across Solana, Ethereum, and Optimism. WCT serves several critical functions:

Fees: While currently operating without fees, WCT is designed to be used for paying network services in the future, which may depend on the number of monthly active users.
Rewards: WCT tokens will incentivize network participants, including wallet providers and node operators, based on their performance and contributions to network stability.
Staking: Holders can stake WCT to support network security and earn rewards, further aligning incentives within the ecosystem.
Governance: WCT holders can participate in the decentralized governance of the WalletConnect Network, voting on proposals related to network fees, roadmap, and reward distributions.

Token Allocation and Tokenomics

The total supply of WCT is capped at 1 billion tokens. The allocation is designed to foster growth, decentralization, and sustainability:

WalletConnect Foundation (27%): Allocated for ecosystem development, partnerships, grants, and operational costs.
Seasonal Airdrops (18.5%): Reserved for community distribution.
Team (18.5%): Allocated to the WalletConnect team with a vesting period to align their long-term interests with the network's success.
Rewards (17.5%): For rewarding network participants such as wallet providers and node operators based on performance.
Early Contributors (11.5%): Allocated for early supporters.
Core Development (7%): To fund ongoing research and development of the core protocol.

Tokens allocated to core development, the team, and early contributors will be unlocked over a 4-year period, including a 1-year cliff starting from the Token Generation Event (TGE).

WCT Token Price Snapshot

According to data from the CoinMarketCap website on 2 July 2025, the WCT coin has a market cap of $56,566,013 USD or 1,835,215,72 Thai Baht.

At the time of writing this article, the WCT coin is trading at a price of approximately $0.3038 or about 9.85 Baht per 1 WCT. WCT reached an all-time high price of $1.37 or approximately 44.33 Baht per 1 WCT on 31 May 2025.

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