WalletConnect is an open protocol that provides secure connections to decentralized applications (dapps) and simplifies the work with smart contracts. It reduces the risk of phishing and data leaks associated with traditional browser connection methods. Users can quickly and securely connect to dapps through an encrypted connection by scanning a QR code or clicking a deep link. The protocol also supports push notifications, informing users about incoming transactions. WalletConnect connection is carried out using end-to-end encryption and transport-layer cryptographic protection. Not many people know that the project plans to issue its token and distribute it via an airdrop. Read on to find out how to participate in the WalletConnect airdrop.
Basic information about WalletConnect:
WalletConnect was founded by Pedro Gomes in 2018. Since then, it has become popular and provides a convenient connection to the DeFi ecosystem for users around the world. According to CoinGecko, the protocol works with more than 6,000 dapps on 150 blockchains. More than 600 crypto wallets support connection via WalletConnect, and about 4 million people use it every month. With the rapid development of decentralized finance, NFTs, and other segments of the crypto industry, this solution is becoming an increasingly important tool for users to safely interact with Web3. Many well-known wallets such as MetaMask, Trust Wallet, and Rainbow have integrated support for the protocol, making it the standard for working with dapps. In 2024, WalletConnect Inc. rebranded and changed its name to Reown. The company now positions itself as a user experience-focused company, offering AppKit and WalletKit tools to simplify the integration of decentralized applications with wallets and ensure their safe use. The WalletConnect Foundation, a non-profit organization dedicated to creating and supporting a decentralized permissionless ecosystem, was created this year. The project has raised a total of $24.75 million in three funding rounds, according to CryptoRank. Investors include 1kx, Union Square Ventures, Coinbase Ventures, Circle, HashKey Capital, and ConsenSys.
Airdrop from WalletConnect (ReOwn):
On September 17, the ReOwn (WalletConnect) team announced the creation of Connect Token (WCT), a native token of the WalletConnect Network, which, according to the developers, is a "user experience-oriented system." "As the network becomes more decentralized, WCT will play a key role in supporting the entire ecosystem," - emphasized the representatives of Wallet Connect.
The token will operate on the Optimism L2 network. On September 19, the project integrated with the Superchain ecosystem.
Registration for Airdrop participants was launched on September 24, 2024, the selection of participants is based on the use of WalletConnect. The initial supply will be limited to 1 billion tokens. Of these, 18.5% (185 million) will be distributed during Season 1 of the Airdrop.
As a result, the recipients of the airdrop will be ordinary users who interacted with WalletConnect through various crypto wallets and Web-3 applications, as well as communities that contributed to the development of the tool.
To participate in the Airdrop, you need to register on the project's website, connecting the wallet through WalletConnect (scan the QR code through the crypto wallet application, for example, Meta Mask, on your smartphone), in addition, you will need to specify an e-mail and your GitHub account. The distribution of coins within the first stage of the Airdrop will end on October 11 of this year. At first, the tokens will be non-transferable, to ensure the functionality of the network and the stability of the ecosystem. The transfer of coins will become available later, as a result of a community vote. Full functionality of the tokens will be unlocked next 2025. The WCT token can be used in staking, as well as in on-chain voting on issues of further development of the project's ecosystem.
