As a seasoned crypto investor with over a decade of experience in this ever-evolving digital landscape, I find myself intrigued by the latest announcement from WalletConnect – the Connect Token (WCT) airdrop initiative. Having witnessed the rise and fall of numerous projects, I’ve learned to appreciate those that not only promise utility but also foster community engagement and decentralization.
Registration is now open for the eagerly awaited distribution of the Connect Token (WCT), offered by WalletConnect as part of their exciting airdrop campaign. The goal of this airdrop is to recognize and incentivize users, while boosting interaction within WalletConnect’s rapidly expanding Web3 community.
As a researcher involved in this project, I can express that by distributing tokens, we’re inviting users to actively engage in shaping the development of our platform, granting them a more immediate influence on how our network unfolds. Since 2018, WalletConnect has successfully established over 150 million connections for an impressive user base of over 23 million individuals, marking a significant 240% increase in the last year. Today, the network handles a staggering $2 trillion in transactions, with more than 4 million active users each month.
Functions of the WCT Token
The WCT token has real utility within the WalletConnect ecosystem. Token holders can help shape the future of the network by proposing new features. When it comes to governance, WCT holders have voting power to influence key decisions, ensuring that WalletConnect’s development is guided by its community.
Additionally, WCT offers motivation for those who enhance the network’s security and productivity. By locking up their tokens, users can receive compensation, benefiting both themselves and the platform.
The Connect Token (WCT) airdrop is here.
Register today ↓
— WalletConnect (@WalletConnect) September 24, 2024
The maximum number of WCT tokens in circulation is set at 1 billion. Among these, 7%, 17.5%, 18.5%, 18.5%, and 11.5% are reserved for core development, rewards, airdrops, the team, and early supporters respectively. Lastly, 27% is designated to the WalletConnect Foundation.
Details of the Airdrop
The first WCT airdrop will distribute 50 million tokens. To take part, users need to connect their Ethereum wallets through WalletConnect and complete their registration. Those who have worked on Web3 projects can link their GitHub accounts to improve their chances of receiving tokens.
Having several wallet addresses may expand your chances for bigger rewards. Registration must be done by October 17, 2024, with outcomes being declared in November. Once the initial phase is over, users can verify their standing and collect any WCT tokens they have earned.
Eligibility for the Airdrop
In order to qualify for the airdrop, users need to fulfill requirements across two categories. These are referred to as User Activity and Profile Information. The User Activity category encompasses connections, digital signatures, and on-chain transactions within the WalletConnect Network. Activities from both the past and recent times are taken into account, so it’s essential for users to input their wallet addresses in their profiles.
Evaluating Participant’s History examines prior involvement with WalletConnect, including contributions to CAIPs, EIPs, and diverse SDKs. It’s essential for contributors to connect their GitHub profiles as well, since open-source projects that foster the on-chain ecosystem are valued.
Users have the ability to meet qualifications in two different categories. To ensure eligibility, evaluations will consider actions taken up until September 12, 2024. Merely satisfying specific conditions doesn’t automatically mean eligibility; users must also surpass defined limits or thresholds for confirmation.
In essence, the WCT airdrop signifies a significant milestone in WalletConnect’s path towards becoming more decentralized. This distribution not only acknowledges current contributors but also stimulates greater participation from others. As WalletConnect expands, the WCT token is expected to be instrumental in fostering an engaged and innovative community within the Web3 domain.
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2024-09-25 14:45