Key Takeaways
- In the first season, WalletConnect Airdrop allocated 50 million tokens to be distributed to over 160,000 eligible users.
- Of the 50 million allocated tokens, 30 million tokens are reserved for eligible users and 20 million for notable network contributors.
- WalletConnet launched the eligibility checker for the first season of the Airdrop. It allows users to stake their tokens for governance.
- Initially, the tokens will be non-transferable. The users are allowed to stake the tokens for a period from one week to two years.
WalletConnect is airdropping 50 million WalletConnect tokens to the on-chain community. It has launched the eligibility checker for its first season of WalletConnect token airdrop. The checker is designed to enable previously registered users to actively participate in the network governance by staking the token.
In the first season of Airdrop, 50 million tokens have been allocated to more than 160,000 eligible users. The eligible users include builders, contributors, and users. The maximum supply of the token is capped at 1 billion.
The 50 million tokens allocated for this season are distributed strategically. 30 million tokens for registered users who met the eligibility criteria during the designated period. The remaining 20 million tokens are reserved for notable network contributors. The network contributors of the token include node operators and early GitHub contributors.
Initially, the tokens will be nontransferable but users can stake the tokens and earn rewards. The rewards of staking are starting on December 19.
What is WalletConnect and WalletConnect Token?
The WalletConnect network is an on-chain UX ecosystem that powers 150 million connections for more than 23 million users across 600 wallets, 40k app projects, and all the chains. It is an open and decentralized network that allows users to connect to on-chain applications that are designed for utility and ownership.
The WalletConnect Token(WCT) is an integral part of the ecosystem that fuels the on-chain UX ecosystem by empowering the community. It acts as an incentive for the contributions to become a better on-chain in the future.
Functions and Benefits of WalletConnect Tokens
The native token of WalletConnect (WCT) has various functions they are:
Governance: The token holders can participate in the decision-making process regarding the network development through decentralized governance mechanisms.
Staking: The token holders can Stake their WCT token to earn rewards as well as contribute to the network security.
Incentive: WCT can be used for the reward programs that are available on the platform. The reward programs are designed to encourage active participation in the WalletConnect Ecosystem.
Registration Process of WalletConnect(WCT) Airdrop
Do you wish to be a part of this airdrop bonanza? We have sorted it out for you. Follow these steps to register for Airdrop:
Step 1: Visit the Airdrop page of the official website
Go to the official website of WalletConnect and find the airdrop section. Double-check that you are on the right website before proceeding further.
Step 2: Register
Register to participate in the Airdrop by providing the necessary details by clicking the Register. The Register option is in the bottom left corner of the page.
Step 3: Connect your Wallet
First, select a wallet that supports the WalletConnect token. Now connect your wallet to the WalletConnect platform.
Step 4:Confirm ownership
After connecting the wallet you need to confirm your ownership of the wallet.
Step 5: Create an airdrop profile
Now you can confirm your Airdrop profile.
Once the steps are carefully completed, you have bypassed the initial step to airdrop participation.
WalletConnect Airdrop: Eligibility
The eligibility criteria also include engaging in network activities before the cutoff date. It is important to note that the registration does not guarantee the eligibility of participation or eligibility to receive tokens.
The platform claims that they have established a scoring system based on previous network usage, on-chain activities, and contributions through various platforms like GitHub. WalletConnect tried to reduce the cost burden on users by subsidizing gas fees in the middle of varying network conditions.
Final Thoughts: WalletConnect Airdrop
WalletConnet is an open-source platform that allows users to connect their wallets to decentralized applications by using a deep link or QR code. After establishing the connection the decentralized app can request approval of the transaction or other actions performed from the user’s wallet.
WalletConnect has the major advantage of allowing mobile users to connect their wallets to decentralized apps on the desktop or other devices. This feature allows users to eliminate the need to switch between devices.
The WalletConnect provides an exciting opportunity for its users to collect WCT tokens that will in turn support a better on-chain crypto ecosystem. The token launch aims to empower the WalletConnect community and create a better future through decentralized governance and incentives. Make sure that you complete your registration before the deadline.
You can increase your chance of participating in Airdrop by following the required steps. This will increase your chance of earning WCT tokens However, participation should be initiated after careful research. Any crypto-related activities require your special care and attention. Good luck with your WalletConnect Airdrop!
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