WCT Token Launches With Binance Backing and 127M Staked

Launched on Optimism Mainnet, WCT enables staking, rewards, and governance for the WalletConnect Network, which now spans 600+ wallets and 61K+ dApps.

The token debuted with a fixed supply of 1 billion, initially non-transferable to discourage speculation and promote long-term alignment. With over 127M WCT staked, Binance’s Launchpool listing starting April 3, ahead of a transferability vote, reinforces the protocol’s transition to a permissionless, community-owned system.

Backed by ConsenSys, Ledger, Figment, and Nansen, and buoyed by a 4x oversubscribed CoinList round and $326M committed on Bitget, WalletConnect is redefining user engagement infrastructure for the on-chain economy.

WalletConnect Token (WCT): Purpose and Utility

As the WalletConnect Network transitioned from centralized infrastructure to a decentralized, community-owned system, the WalletConnect Token (WCT) emerged as a key operational component.

Launched on Optimism’s OP Mainnet, WCT functions beyond governance. It supports staking, performance rewards, and governance participation and is expected to facilitate network usage fees in future updates. This utility structure enables token holders to actively contribute to the network’s development and sustainability.

WCT is integral to the protocol’s shift toward a permissionless connectivity layer, empowering decentralized interactions across the blockchain ecosystem.

Allocation, Non-Transferability, and Staking Design

The WCT token was introduced with a fixed supply of 1 billion, distributed across the following allocations:

• 27% – WalletConnect Foundation
• 18.5% – Team
• 18.5% – Airdrops
• 17.5% – Staking & Performance Rewards
• 11.5% – Early Backers
• 7% – Core Protocol Development

To discourage speculative behavior and maintain alignment with long-term goals, WCT was initially non-transferable. Tokenholders were still able to stake, vote, and earn rewards, fostering engagement and community governance from the outset.

Staking periods range from 1 week to 2 years, with higher rewards for longer lock-ups. As of March 2025, over 127 million WCT were staked by more than 286,500 users, contributing to network security and participation.

Binance Launchpool: Listing Strategy

WalletConnect announced that Binance would host WCT on its Launchpool platform, significantly expanding global access.

• Farming Start Date: April 3, 2025
• Eligible Tokens: BNB, FDUSD, USDC
• Launchpool Duration: 7 days
• Expected Listing: After April 10, 2025, contingent on transferability vote results

The Binance listing marked a pivotal step, transitioning WalletConnect from a backend protocol to a tokenized public infrastructure network. This move introduced millions of new users to the WCT token, signaling broader market adoption.

Binance’s involvement reinforced market confidence in the token’s utility and future role in Web3 infrastructure.

Fundraising Recap: $10M Raised, Bitget & CoinList Demand

WalletConnect executed multiple fundraising rounds, each reflecting strong market demand:

• CoinList Community Round (Feb 2025):
  • 4x oversubscribed
  • 18,000 participants across 100+ countries
  • $15.5M pre-funded for a $4M cap
• Bitget LaunchX Round:
  • 67,000 users committed over $326M for a $4M target
• Echo Private Sale:
  • $500K raised in 11 seconds
• Direct Private Sale:
  • $1.5M raised from early contributors and community backers

These fundraising milestones underscore strong confidence in WalletConnect’s infrastructure and token economics, especially during a period marked by macroeconomic caution.

Strategic Backers and Node Operators

The WalletConnect Network is supported by a group of notable Web3 stakeholders who serve as node operators and governance contributors:

• ConsenSys
• Ledger
• Nansen
• Figment
• Everstake
• Kiln
• Arc Community
• Reown (Core contributor to WalletKit & AppKit)

These partners operate critical Service and Gateway Nodes, supporting the decentralization and scalability of WalletConnect’s relay infrastructure. They also contribute to the network’s performance benchmarks and governance processes.

By combining institutional-grade infrastructure with mass-market exposure, WalletConnect positions itself as a comprehensive solution for builders and end users in the decentralized ecosystem.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.