WalletConnect Launches Native Token on Optimism Mainnet, Plans 185M Token Airdrop

WalletConnect, a protocol that facilitates connections between crypto wallets and decentralized functions, is ready to launch its native Join Token (WCT) on Optimism’s OP Mainnet.

WalletConnect, a protocol that facilitates connections between crypto wallets and decentralized functions, is ready to launch its native Join Token (WCT) on Optimism’s OP Mainnet, an Ethereum Layer 2 community.

The corporate plans to airdrop a complete of 185 million WCT tokens as a part of its initiative to decentralize the WalletConnect Community.

Registration for the WCT airdrop will open on September 24, with eligibility primarily based on person engagement inside the WalletConnect ecosystem. Customers should join their wallets, hyperlink their GitHub accounts, and supply an electronic mail tackle to take part.

An Ethereum tackle and lively engagement with WalletConnect or contributions to open-source initiatives are required for eligibility, whereas sanctioned wallets or IP addresses will likely be disqualified.

The airdrop is designed to incorporate not solely finish customers but in addition wallets, functions, nodes, software program improvement kits, and communities which have supported WalletConnect.

The airdrop season will conclude on October 11, after which token distribution will start primarily based on historic exercise. Any unclaimed tokens will likely be allotted to future airdrop seasons.

Initially, WCT tokens will likely be non-transferable to prioritize community stability and performance. Nevertheless, transferability could also be enabled later by way of neighborhood governance.

Whereas the tokens might be utilized for governance and staking, they are going to stay non-transferable till full performance is achieved, anticipated by 2025.

At the side of the token launch, WalletConnect has rebranded to Reown, sustaining management underneath CEO Jess Houlgrave. The newly established WalletConnect Basis will govern the protocol, specializing in its development and decentralization. Notable third-party node operators concerned on this initiative embrace Consensys, Ledger, and Figment.

Pedro Gomes, the founding father of WalletConnect, and Yessin Schiegg, former CFO of the Close to Basis, will play key roles within the basis.

Gomes emphasised the significance of WCT in advancing the community’s targets of changing into a decentralized infrastructure for the evolving web.

This text comprises hyperlinks to third-party web sites or different content material for data functions solely (“Third-Social gathering Websites”). The Third-Social gathering Websites should not underneath the management of L3B7, and L3B7 isn’t chargeable for the content material of any Third-Social gathering Website, together with with out limitation any hyperlink contained in a Third-Social gathering Website, or any adjustments or updates to a Third-Social gathering Website. L3B7 is offering these hyperlinks to you solely as a comfort, and the inclusion of any hyperlink doesn’t indicate endorsement, approval or advice by L3B7 of the location or any affiliation with its operators.
This text is meant for use and have to be used for informational functions solely. You will need to do your individual analysis and evaluation earlier than making any materials choices associated to any of the services or products described. This text isn’t supposed as, and shall not be construed as, monetary recommendation.
The views and opinions expressed on this article are the writer’s [company’s] personal and don’t essentially mirror these of L3B7.