Wallet Connect is making waves in the crypto world, and if you’ve spent any time in this space, chances are you’ve interacted with it. Known for connecting wallets to various crypto applications, Wallet Connect has been a trusted name for years. Today, we’re diving into some exciting news: the launch of their very own token, WCT.
Growth Success
Since its inception in 2018, Wallet Connect has seen phenomenal growth. The numbers speak for themselves: over 38 million unique active wallets, more than 240 million wallet connections, and integration with over 57,000 apps. These figures highlight Wallet Connect’s pivotal role in the crypto ecosystem, and they just keep getting better. For instance, in January 2025 alone, connections surged by 9%, indicating a robust demand for reliable connectivity.
The growth isn’t slowing down. Unique wallets jumped from 31 million to 38.7 million—a staggering 24.8% increase. Monthly unique wallets soared from 2.6 million in January 2024 to over 4.6 million in January 2025, showcasing a 77% increase year-over-year. This is the kind of expansion we love to see in the Web3 space.
What is Wallet Connect?
Wallet Connect is an open-source network that allows users to connect their wallets to on-chain applications. It emerged as a solution to the fragmentation that plagued the early days of Web3, simplifying the user experience significantly. With a simple QR code scan, users can access opportunities with ease, thus enhancing the on-chain ecosystem.
The Evolution of Wallet Connect
What began as a tool to improve user experience has transformed into a thriving network for millions. As of now, Wallet Connect has integrated with over 600 wallets and 50,000 app projects. The introduction of node operators in 2024 marks a significant step toward a decentralized and open network. The community is becoming increasingly vital to Wallet Connect’s future, and that’s exciting!
Token Utility and Tokenomics
Now let’s talk about the WCT token. Although I’m not a financial advisor, I believe this token holds great promise. The WCT token will serve several key functions:
- Fees: Initially, there won’t be a fee structure, but as the network matures, fees may be introduced through governance.
- Rewards: 17.5% of the initial token supply is allocated for community contributors based on performance factors like uptime.
- Staking: With over 90.9 million tokens already staked by almost 50,000 stakers, this demonstrates the community’s commitment to network stability.
- Governance: Holders can participate in key decisions, such as fee structures and reward allocations, ensuring the network evolves with community interests in mind.
Token Allocations
The initial supply of WCT is capped at 1 billion tokens, with allocations designed to support growth and sustainability:
- Wallet Connect Foundation: 27%
- Airdrops: 18.5%
- Team: 18.5%
- Rewards: 17.5%
- Backers: 11.5%
- Core Development: 7%