WalletConnect Initiates 50 Million WCT Token Airdrop

The Web3 protocol WalletConnect, which facilitates the connection of wallets like MetaMask to dapps, has launched its inaugural airdrop season. During this period, the project will distribute 50 million WCT tokens on the Optimism L2 network.

Eligibility is now live! Check if you qualify, claim your WCT, and start staking your tokens.https://t.co/jo5r7X2xa3

— WalletConnect (@WalletConnect) November 26, 2024

A total of 185 million WCT has been allocated for distribution from the overall issuance of 1 billion.

The first tranche allocates 30 million coins to users, while 20 million are reserved to reward early protocol participants, including node operators, wallets, applications, and GitHub contributors.

To participate in the airdrop, users needed to open a WalletConnect account, connect a wallet, and conduct on-chain operations by October 18.

Initially, users will not be able to transfer WCT but will have the opportunity to stake them for additional income. 

It is anticipated that the community will later explore expanding the asset’s use cases. In 2025, plans include implementing payment for network services and project governance participation using WCT as the decentralization roadmap unfolds.

Tokens unclaimed in the first airdrop season will be distributed in subsequent rounds.

In November 2023, WalletConnect restricted access to the protocol for users from Russia, but services were resumed two weeks later.