Introduction
In the Web3 and blockchain ecosystem, users often need to connect crypto wallets to decentralized applications (dApps), but traditional methods often rely on browser extensions, which pose risks to both security and convenience. WalletConnect, as an open-source protocol, has completely changed this landscape. It provides a secure, end-to-end encrypted connection method, allowing users to seamlessly connect their wallets to thousands of dApps by scanning a QR code or using deep links. As of 2025, WalletConnect supports over 600 wallets and 40,000 dApps, has processed over 185 million on-chain connections, and serves 30 million users. Closely tied to it is its native token WCT (WalletConnect Token), which is not only a tool for network governance and incentives but also the core driver pushing the entire ecosystem toward decentralization. This article will quickly guide you through WalletConnect's core mechanisms, the role of WCT, and its future potential.
What is WalletConnect?
WalletConnect is a decentralized cross-chain communication protocol designed to enable secure and convenient interactions between crypto wallets and dApps. It was launched in 2018, maintained by the WalletConnect Foundation, and jointly operated by organizations such as Reown, Consensys, and Ledger.
Core Features
- Secure Connections: Users do not need to expose private keys; all communications are conducted via end-to-end encryption, supporting QR code scanning or mobile deep links, eliminating reliance on browser extensions.
- Multi-Chain Support: Compatible with over 300 blockchains, including mainstream networks like Ethereum and Optimism, suitable for various scenarios such as DeFi, NFT, gaming, and more.
- Decentralized Network: Evolved from a single relay server to a distributed node network maintained by community node operators, ensuring high availability and censorship resistance.
WalletConnect's SDK (Software Development Kit) has been integrated into numerous wallets (such as MetaMask and Trust Wallet) and dApps, with an extremely low barrier to use: simply click "Connect Wallet" in the dApp, scan the QR code, and the interaction is complete.
Detailed Explanation of the WCT Token
WCT is the native utility token of the WalletConnect Network, with a fixed total supply of 1 billion tokens, aimed at incentivizing participants and ensuring the network's sustainability. The token entered its initial release phase in 2024 and underwent an ICO via CoinList in January 2025, achieving full transferability in April. It was initially designed as non-transferable to avoid market volatility disrupting ecosystem development.
Main Uses
| Use | Description |
|---|---|
| Governance | WCT holders can propose and vote on network upgrades, fee structures, etc., with on-chain governance expected to launch in Q2 2025. |
| Staking and Rewards | Users and node operators can stake WCT to secure the network, with rewards distributed based on metrics like uptime and latency. Flexible lock-up periods range from 1 week to 2 years. |
| Fee Payments | May be used for network service fees in the future, decided by community votes. |
| Ecosystem Incentives | Supports developer grants, dApp integrations, and wallet partnerships to promote cross-chain interoperability. |
WCT's allocation emphasizes long-term sustainability: a portion is used for community airdrops (rewarding active users), with the rest locked to support network growth. As of November 2025, the circulating supply is approximately 190 million tokens, with the remainder unlocking gradually. The current price is about 0.051312 BTC (equivalent to several USD, subject to real-time data), with 24-hour trading volume exceeding $30 million, primarily on exchanges like Binance. Development History and Ecosystem ImpactWalletConnect started as a simple protocol in 2018, launched WCT in 2024 and shifted to a decentralized node network, and achieved token transferability and on-chain governance in 2025. Its evolution embodies Web3's core principles: user sovereignty and community-driven development. The project also operates WalletGuide, which reviews and lists high-quality wallets to enhance ecosystem security. In practical applications, WalletConnect has penetrated:
- DeFi (trading, lending)
- NFT (cross-chain minting)
- Gaming and other fields
Helping users avoid private key leakage risks. Its open-source nature has attracted global developers, promoting the standardization of blockchain infrastructure. Future OutlookLooking ahead, WalletConnect will further expand cross-chain liquidity incentives and strengthen DAO governance through WCT. As Web3 adoption rises, WCT is poised to become the "universal key" connecting wallets and dApps, supporting a broader decentralized economy. Investors can monitor community proposals and node growth to seize opportunities. In summary, WalletConnect and WCT are not just technological innovations but symbols of Web3 inclusivity. If you're exploring the blockchain world, start by connecting to a dApp—WalletConnect might just be your gateway.
For more details, visit the official website:walletconnect.network or track WCT dynamics on CoinMarketCap.