WalletConnect plans to launch its Connect (WCT) token and give away 185 million WCT (18.5% sapplay) airdrop to active users

WalletConnect, a web3 communications protocol, is launching its Connect (WCT) token on Mainnet Optimism. The token will also be distributed to users via airdrop.

Registration for the airdrop WCT will open on September 24.

WalletConnect Inc. will rebrand to Reown.

The initial WCT offering is capped at 1 billion tokens, of which 18.5% is allocated for the first airdrop season. Participants must register by connecting their wallets and providing the required information.

Initially, WCT tokens will be non-transferable to focus on functionality and ecosystem development. Full functionality is expected by 2025.

With the launch of WCT, the WalletConnect network will begin the transition to a permissionless, community-driven structure. The newly formed WalletConnect Foundation will oversee the protocol and ensure the growth of the network.