Key Takeaways
WalletConnect makes it easy to connect crypto wallets to decentralized apps using QR codes or deep links, keeping users in control without exposing private keys or relying on browser extensions.
The protocol supports a wide range of blockchain networks, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin.
The WalletConnect ecosystem has WCT as its utility token, which can be used for staking, governance, and to receive rewards.
What Is WalletConnect?
WalletConnect is an open-source protocol that makes it easy for crypto wallets to connect with decentralized apps (DApps). Instead of relying on browser extensions or copy-pasting wallet addresses, WalletConnect lets you link your wallet to a DApp with a quick QR code scan or deep link. WalletConnect works across many blockchains, and aims to make Web3 more user-friendly and secure.
Originally created to address fragmented and vulnerable DApp-wallet interactions, WalletConnect has grown into a protocol and a network that supports millions of users and thousands of applications.
How WalletConnect Works
At its foundation, WalletConnect acts as a communication layer that enables wallet applications to interact with DApps without exposing sensitive information, such as private keys.
The protocol supports encrypted messaging through a session established by scanning a QR code or clicking a deep link. Once connected, users can approve or reject transactions directly from their wallets, which remain in their full control throughout the session.
WalletConnect supports multiple blockchain networks, including Ethereum, Solana, Cosmos, Polkadot, and Bitcoin.
WalletConnect is built on three key pieces:
Network: This is the system of nodes that pass messages between your wallet and the app you're using. These nodes are run by different groups to keep things decentralized.
SDKs: Developers use WalletConnect SDKs to add the connection feature to their wallets and DApps. The SDKs handle all the technical stuff behind the scenes.
Standards: WalletConnect uses standard rules for how messages are sent and received, which makes it easier for apps and wallets to work together smoothly.
The WCT Token
WalletConnect has its own token called WCT. It is an ERC-20 token with a total supply of 1 billion tokens. WCT was launched on the Optimism network and is used for multiple purposes within the WalletConnect ecosystem:
Governance: WCT holders can help decide how the network evolves, from protocol upgrades to fee structures.
Staking: Users can stake WCT tokens to help secure the network and earn rewards. Staking durations range from one week to two years, with incentives increasing with the length of the commitment.
Performance-based rewards: Node operators and wallet providers are rewarded in WCT based on metrics such as uptime, latency, and the number of successful connections they facilitate.
Future fees: While WalletConnect doesn’t charge fees yet, WCT might be used for transaction fees later on if the community votes for it.
WCT is an ERC-20 token with a total supply of 1 billion tokens.
WCT on Binance Launchpool
On April 10, 2025, Binance announced WCT as the 67th project on the Binance Launchpool. Users who locked their BNB, FDUSD, and USDC during the farming period were eligible to receive WCT rewards. A total of 40 million WCT were allocated to the program, accounting for 4% of the total token supply.
After the farming period, WCT was listed for trading on Binance with the Seed Tag applied, allowing for trading against the USDT, USDC, BNB, FDUSD, and TRY pairs.
WalletGuide and Certification
The WalletConnect team also runs WalletGuide, a project that reviews and lists wallets that meet certain quality and security standards. Wallets can earn certification, which makes them more trustworthy in the eyes of users and developers.
Adoption and Growth
WalletConnect has seen significant adoption since its launch. According to their website, the project has made over 240 million connections to serve more than 38 million unique active wallets. Over 57,000 decentralized applications have integrated the protocol, which illustrates its utility and interoperability within the Web3 space.
Funding and Development
The WalletConnect Foundation has raised $10 million from four consecutive oversubscribed token sales. The funds will enable the WalletConnect Foundation to expand operations, grow its team and support ecosystem initiatives — benefiting developers, node operators and strategic partners.
Closing Thoughts
WalletConnect started as a simple way to connect wallets to DApps, but it’s grown into a whole ecosystem with its own token, governance system, and network infrastructure. With support for multiple blockchains and a strong user base, the project is enabling secure and efficient communication across multiple Web3 platforms.
