WCT from WalletConnect Now Available on LaunchX, Granting Users Early Access to the Token
In Brief
Through a campaign at LaunchX hosted by BitGet, WalletConnect has just launched its token, WCT, providing an opportunity for participants to access the token from a 20 million allocation at a price consistent with recent private placements.
Open-source connectivity protocol WalletConnect The launch of WCT was announced through LaunchX, a campaign organized by a cryptocurrency exchange, BitGet . This program allows participants to obtain WCT from a pool of 20 million tokens, priced according to recent private fundraising rounds. The subscription window is slated to open from February 17 at 10:00 UTC+8 to February 19 at 10:00 UTC+8.
For the LaunchX initiative, an allocation of 20 million WCT tokens, which represents 2% of the total supply, has been designated. The price for each WCT is set at $0.20, and USDT is the currency required for investment. Participants need to commit a minimum of 100 USDT with a cap of 10,000 USDT per individual. The total cap for subscriptions is set at 50,000 WCT.
LaunchX This process utilizes a commitment–subscription method, where the allocation of tokens to a participant corresponds to their financial commitment against the overall pool of committed funds. Nevertheless, no individual allocation can surpass the subscription cap, and personal commitments must not exceed the established maximum.
What exactly is WalletConnect, and what does the WCT Token signify?
Since 2018, WalletConnect WalletConnect has been instrumental in fostering secure, seamless interactions between wallets and decentralized applications, acting as a crucial entry point into the on-chain economy. With over 20 million monthly connections and a user base approaching 35 million, the platform is evolving towards a decentralized, permissionless ecosystem powered by its native WCT token. WCT embodies WalletConnect's vision for a user-centric, community-governed infrastructure aimed at elevating the on-chain experience. The Token Community Round grants participants early access to WCT at a fair market price, ensuring no lock-up periods.
WCT serves a vital function in enriching the on-chain experience, operating as both a reward and governance mechanism. It's utilized for various applications, including transaction fees within the network, staking incentives, and enabling participation in community voting and governance.
As outlined in its tokenomics, the overall supply of WCT stands at 1 billion tokens, distributed as follows: 27% is designated for the WalletConnect Foundation to bolster partnerships, grants, ecosystem development, and operational expenses. 18.5% is reserved for seasonal airdrops targeting users, applications, wallets, nodes, and other ecosystem contributors. Another 18.5% is allocated for WalletConnect team members. Staking incentives and performance-based rewards capture 17.5%, while 11.5% is set aside for initial backers of the project. Lastly, 7% supports the protocol's ongoing development and its related infrastructure.
Disclaimer
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