Author: Binance Announcement, WalletConnect Official Website, White Paper, Twitter Compiled by: Golden Finance

On April 10, 2025, Binance announced that Binance Launchpool has launched the 67th project - WalletConnect (WCT), an open source network that connects users to decentralized applications through a secure and interoperable protocol. Users can invest BNB, FDUSD and USDC into the WCT reward pool on the Launchpool website after 08:00 on April 11, 2025 (Eastern Time Zone 8) to obtain WCT. The activity will last for a total of 4 days.

New Coin Listing

Binance will list WalletConnect (WCT) at 2025-04-15 19:00 (ET8), and open WCT/USDT, WCT/USDC, WCT/BNB, WCT/FDUSD and WCT/TRY trading markets, with seed tag trading rules applicable.  

1. Project Details:

• Token Name: WalletConnect (WCT) 

• Total Token Supply: 1,000,000,000 WCT

• Maximum Token Supply: 1,000,000,000 WCT

• Initial Circulation: 186,200,000 WCT (18.62% of the Total Token Supply)

• Launchpool Total: 40,000,000 WCT (4% of the Maximum Token Supply)

• Learn to Earn Coins Activity (distributed in batches): 10,000,000 WCT 

• Smart Contract Details: OP Mainnet, 0xeF4461891DfB3AC8572cCf7C794664A8DD927945 

• Listing Fee: 0

• Restrictions: KYC Required

• Personal Hourly Reward Hard Cap:

• BNB Mining Pool: 35,416 WCT

• FDUSD pool: 2,083 WCT

• USDC pool: 4,166 WCT

Reward pool:

• BNB pool (the website will be updated within twelve hours of this announcement and before the event opens): total reward 34,000,000 WCT (accounting for 85%)

• FDUSD pool (the website will be updated within twelve hours of this announcement and before the event opens): total reward 2,000,000 WCT (accounting for 5%)

• USDC pool (the website will be updated within 12 hours of this announcement and before the event opens): Total rewards 4,000,000 WCT (accounting for 10%)

• Event time: 08:00 on April 11, 2025 (GMT+8) to 07:59 on April 15, 2025 (GMT+8)

Reward amount distribution in stages:

The Wallet Connect network is an infrastructure designed to support decentralized networks by facilitating seamless and secure interactions between applications and wallets.

WalletConnect solves the main problem of managing multiple decentralized applications (Dapps) and DeFi protocol wallets. Instead of using a separate wallet for each platform, users can interact with multiple Dapps from one wallet through WalletConnect, simplifying the user experience. It connects wallets to various blockchain-based platforms through a secure decentralized protocol, enabling users to more easily manage assets for different DeFi services without the need for multiple wallets.

3. GenerationCoin Economics

Token Distribution

The initial total supply of WCT is capped at 1 billion, and the distribution plan is as follows:

• Rewards: 17.5%, for staking and performance rewards

• Airdrops: 18.5%, for seasonal airdrops to users, applications, wallets, nodes, etc.

• Team: 18.5%, allocated to Reown and WalletConnect team members

• Early Supporters: 11.5%, allocated to participants who provide resources and support for the early network

• WalletConnect Foundation: 27%, for partnerships, grants, ecosystem development and operations

Tokens allocated to core development, team and early supporters will be subject to 4 years including a 1-year cliff period

The airdrop distribution will begin at the public launch of the token and continue in the form of seasonal airdrops in subsequent years.

Functionality of WCT Tokens

1. Fees

Fees play a key role in the long-term sustainability of the network, and the network's community and contributors have the responsibility to define and shape how they will support and drive the network's economic flow.

In the initial stage, the network will not adopt a fee structure, but when the ecosystem reaches the appropriate stage of maturity, the community may propose, discuss and decide to introduce fees through the governance mechanism. Therefore, the timeline for the implementation of fees has not yet been determined.

The network's current fee proposal envisions that relays will adopt a monthly active user (MAU) model for their connection services, providing a flexible and scalable solution for managing network usage fees. Participant groups that play a significant role in the network will receive WCT tokens in preparation for this feature to be enabled.

If additional features are added to the network, new models may emerge that require fees to be paid in WCT tokens.

2. Rewards

17.5% of the initial token supply is allocated to incentivize participants in the first few years of the WalletConnect network operation. 5% will be allocated in the first year, and 12.5% ​​will be reserved for subsequent years.

Rewards will be allocated to various community contributors based on different factors, all of which are aligned with the values ​​and purpose of the network, which is to promote and drive better on-chain user experience. For example, through WalletGuide and WalletConnect Certified, wallet providers will continue to receive incentives to improve wallet standards in various areas of Web3, and the performance reward mechanism is defined by consensus-based standards. Node rewards will also take into account performance factors such as uptime and latency, encouraging node operators to continuously build and optimize availability infrastructure.

Similarly, all other rewards are directly aligned with the shared desire, intention, and responsibility of network participants to support the growth of a more usable Web3.

As the network grows, its community will have the opportunity to decide how and when to allocate and distribute rewards.

3. Staking

Any WCT holder has the opportunity to stake their tokens to the network. Staking tokens enables individuals to further contribute to the stability and sustainability of the network and be rewarded for doing so.

Staking rewards come from a portion of the general reward pool, with the proportion set by governance. Each staker's reward is based on their staking weight, which is capped to prevent over-concentration, and rewards increase with longer commitment periods and larger stakes.

The fixed staking system allows users to lock tokens for periods ranging from one week to two years. During the lockup period, tokens cannot be withdrawn, and there is a 7-day unbonding process at the end of the period. An auto-lock feature automatically renews staked positions and maintains staked weights. Manual re-staking is also available, and automatic re-staking may be implemented in the future to enhance user convenience.

4. Governance

Governance of the WalletConnect network is designed to promote decentralization, transparency, and community engagement. The WalletConnect Foundation is responsible for managing the growth of the network, supporting stakeholders through grants, application development, and partnerships. While not predefined by vertical, several committees will be responsible for different functions, for example, in the proposed approach, the Technical Committee will handle technology and infrastructure, while the Partnership Committee will focus on growth and partnerships. These committees will become more involved as the network transitions to a decentralized model via a DAO.

Token holders will vote on proposals and participate in decision-making through the network's governance mechanism. The community governance model is designed to immediately involve the community in all aspects of the network, and as the network matures and the ecosystem develops, control will gradually shift to WCT token holders. Ideally, this transition will be implemented in stages: first, the foundation will take on key roles, then different committees will be established, and then specific committees will take on greater responsibilities. Ultimately, the DAO will manage administrative affairs, and token holders will approve budgets and committee elections.