Every time you click on the iconic blue connection icon on the DEX or NFT platform, you are using one of the key infrastructure of the Web3 interaction layer - WalletConnect. This protocol has silently supported almost the entire crypto ecosystem since 2018. As the core connectivity layer of on chain user experience, WalletConnect has facilitated over 275 million connections worldwide, covering 45 million users and connecting 600+wallets and 61000+applications. But in terms of investment logic, WalletConnect's platform token WCT faces a core issue: how to convert network usage into token holder value? WalletConnect provides a standard Web3 solution, building a decentralized middleware network WalletConnect Network to empower WCT. WalletConnect achieves real-time communication through relay server infrastructure, uses encrypted messages to ensure security, and supports cross chain interoperability. Currently, 16 node operators (including Consensys, Ledger, etc.) have provided infrastructure support. The value of WalletConnect Network lies in its ability to solve the standardized connection between applications and wallets. Its neutrality makes it a hub for connecting various wallets and applications, whether you use MetaMask, Trust, or Binance wallets. After the launch of WalletConnect Network, WCT naturally has three classic platform token application scenarios: staking, rewards, and governance. In the future, WalletConnect will consider charging service fees to monthly active users to further enhance WCT's ability to capture value. Finally, let me share my personal opinion on WCT from an investment perspective: compared to most projects in the Infra sector, WalletConnect has a unique advantage: the validated PMF (Product Market Fit). But it is still necessary to pay attention to how its service fee model will ultimately be implemented, the sustainability of network scale effects, and the actual implementation of the decentralization roadmap. above.