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COINOTAG news, September 17, reports from The Block indicate that the Web3 communication protocol WalletConnect will introduce its native token WCT on the Optimism network. WalletConnect has announced that the registration for the WCT airdrop begins on September 24, with qualifications based on the network’s usage. Houlgrave, CEO of WalletConnect, stated that the initial WCT token supply is limited to 1 billion, allocating 185 million tokens, or 18.5%, for the first quarter airdrop.
The airdrop will encompass WalletConnect’s end-users and extend to contributors such as wallets, applications, nodes, software development kits, and communities pivotal to the platform’s success. To join the WCT airdrop, participants must register by connecting their wallet, linking their GitHub account, and providing an email address. Eligibility includes owning an Ethereum address, actively utilizing WalletConnect, or contributing to open-source projects. The first season of airdrops concludes on October 11, with token distribution occurring thereafter. Unclaimed tokens will be reallocated to subsequent airdrop seasons.
Initially, WCT tokens will be non-transferable, with potential transfer functionality through community governance anticipated in 2025. Until then, tokens remain locked within wallets. In a strategic rebranding, WalletConnect Inc. has become Reown, prioritizing user experience. Additionally, the WalletConnect Foundation has been instituted to manage the protocol’s development, security, decentralization, and ecological growth.
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