WalletConnect will launch WCT tokens on April 15th

According to The Defiant, the on chain connectivity solution WalletConnect will launch its native WCT token on April 15th. This issuance is managed by the WalletConnect Foundation and aims to promote the decentralization of the WalletConnect network centered around WCT. Token holders can raise, discuss, and make decisions regarding the introduction of fees in the long-term economic model of the network through governance mechanisms. WCT tokens are not only used to incentivize network usage, but also give holders the right to pledge and govern. According to the WCT white paper, the token will not be immediately transferable, and the opening trading time will be determined by the WalletConnect Foundation and token holders through voting. The white paper points out that "network functionality, long-term planning, ecosystem development, and infrastructure protection" are the reasons why tokens cannot be immediately transferred. The distribution of WCT supply is as follows: 27% goes to the WCT Foundation, 18.5% goes to airdrop activities, 18.5% goes to teams, 17.5% goes to rewards, 11.5% goes to investors, and 7% goes to core developers. The tokens of developers, teams, and investors have a four-year unlocking period and a one-year lock up period. The airdrop activity will be carried out in stages over the next few years.