Binance's new flagship project, WalletConnect, is launched in the new phase of Launchpool WalletConnect (@ WalletConnect) is an infrastructure protocol for the Web3 connectivity layer, designed to serve as a secure connection bridge between user wallets and DApps. Its technology allows users to seamlessly integrate their wallets with DApps through methods such as QR code scanning, without exposing their private keys. At present, it supports over 600 wallets and connects to more than 61000 DApps, serving over 45 million users worldwide. It is an absolute leader in the field and holds a monopoly position. With the meme craze of this cycle and the arrival of the era of fat applications with the development of Web3, WalletConnect has become an indispensable connection protocol in multi chain ecosystems such as ETH, BNB Chain, Solana, Cosmos, etc., thanks to its "plug and play" connectivity capability. And WalletConnect has launched its native token WCT, which is currently being updated in Binance Launchpool. Don't miss it! 🔗 How WalletConnect works: WalletConnect operates through a relay server infrastructure that supports real-time communication between wallets and DApps one ️⃣ Scan code connection: When using DApps, users only need to scan the QR code on the page with their wallet, and initiate a connection through the custom integration of Reown AppKit and other tools for network communication within the application. two ️⃣ Quickly establish a connection: The QR code contains necessary information, and the wallet can complete the connection within a few seconds after recognition. three ️⃣ Secure Communication: WalletConnect encrypts the information transmitted between the wallet and DApp, protecting user privacy and asset security. four ️⃣ Cross chain interoperability: not limited to a single chain, supports multiple blockchains such as ETH and Solana, and users do not need to install multiple wallets for different chains. Its function is like "Web3 Bluetooth", helping users seamlessly and securely operate between different blockchains. 🎯 Core advantages and data 📊 one ️⃣ Significant network effect Monthly active wallet users exceed 5 million, with an annual growth rate of 27% The cumulative number of connections has reached 275 million, with an increase of 4.4 times in 2024 compared to 2023 • Supports 600+wallets and 61000+applications, becoming the standard for connecting DeFi and NFT ecosystems two ️⃣ Technical moat • Use end-to-end encrypted communication and QR code scanning mechanism to achieve on chain interaction without private key leakage The upgrade of v2 protocol significantly improves communication efficiency and introduces node networks (such as Consensys, Ledger, etc.) to enhance decentralization and security three ️⃣ Addressing industry pain points Unified SDK connection reduces development barriers, "one-time integration, full chain compatibility" Effectively solve the problems of fragmented user experience and complex wallet support in Web3 📝 WCT Token Economy Model and Value Capture Mechanism one ️⃣ distribution structures • Initial total quantity: 1 billion pieces • Airdrop: 18.5% Team lock up: 18.5% (4-year linear release) Ecological incentives (reward pool): 17.5% Foundation: 27% • Early supporters: 11.5% • Core development: 7% Currently, over 106.5 million WCTs have been pledged, with over 305000 coin holding addresses, demonstrating strong network effects and community participation. two ️⃣ Token value capture • Payment of fees: DApps need to pay for network connection service fees using WCT based on the monthly number of active users. Pledge rewards: Users can pledge WCT to earn profits, while node operators receive incentives based on service quality. Community governance: Coin holders can participate in voting on proposals such as protocol upgrades and fee models. Decentralized incentives: The pledge lock mechanism ensures network security and promotes a positive feedback loop. 🔔 Future Directions one ️⃣ function expansion Web3Inbox messaging system: supports decentralized notifications for on chain users and DApps Cross chain communication support: such as Cosmos IBC, Polkadot XCM, etc., making WalletConnect a universal connectivity protocol On chain compliance and identity management: Combining zero knowledge proof (ZKP) for on chain compliance interactive verification two ️⃣ Network Governance and Community Driven Decentralized node networks gradually open up governance rights and build permissionless connectivity infrastructure Attract more developers to integrate WalletConnect SDK, expand WCT application scenarios and payment needs Provide multi-party incentive mechanisms for operators, stakers, and developers to establish strong community binding power 🧐 Observation from an investment perspective WalletConnect is not just a tool protocol, it is the "traffic gateway" for Web3 user connections. Empowering its connected network through WCT not only provides sustained economic support for the protocol, but also opens up new opportunities for community governance and long-term development. Compared to some "air projects" that rely solely on marketing, WalletConnect's real usage data, extensive integration, and gradually decentralized technological iteration path form a strong moat. Especially in the context of the trend of "ten thousand chain interconnection", WalletConnect's infrastructure position in cross chain communication and user interaction experience will further solidify its value. Currently, WCT has launched Binance Launchpool with low participation threshold and long-term potential. It is a rare token project in the Web3 ecosystem with practical business models and landing capabilities. Summary: WalletConnect and its token WCT are at a critical juncture of upgrading from a 'tool protocol' to a 'protocol economy'. In the future, with the continuous explosion of Web3 applications, its connection layer position will continue to be stable, WCT, as the underlying infrastructure of a group of wallets, has extremely high strategic value and investment prospects. And this Binance Launchpool launch event is not to be missed, as it is the first opportunity to enjoy the ecological dividend. 🧐