Congratulations to WCT for being on Upbit. It's just that Coinbase hasn't unlocked it yet. Also, congratulations to those who didn't sell yesterday. The airdrop registration was also very simple, it was a good meal. Okay, I admit I sold myself. Although the market situation is generally not good now and experienced a pullback after yesterday's opening, WCT's ability to quickly launch on the two top exchanges also shows the quality and strength of the project itself. Below is a brief introduction to WCT WalletConnect Token (WCT) Empowerment Firstly, the WalletConnect token (WCT) is an essential part of the WalletConnect network - it empowers users, applications, and wallet communities, contributes to a better on chain future through shared incentive mechanisms, and injects vitality into the on chain user experience (UX) ecosystem. This token will be launched on Optimism's OP mainnet, combining the security of Ethereum with the speed of the OP mainnet. Allocation of WCT The initial supply ceiling of WCT is 1 billion, and its allocation aims to support the growth and sustainability of the network. These allocations include: Core development (7%): used for further development of protocols and related modules Reward (17.5%): Used for staking and performance rewards Airdrop (18.5%): Used for seasonal airdrops to users, applications, wallets, nodes, etc. Team (18.5%): Team members for reown and WalletConnect Supporters (11.5%): People who provided resources and support for early networks WalletConnect Foundation (27%): Used for collaboration, funding, ecosystem development, and operations WCT has four main functions in ecosystems: 1. Cost In the initial stage, WalletConnect network will not charge fees to applications and SDKs that use relay services. However, considering the cost of providing such services in a privacy preserving and censorship resistant manner, when the ecosystem reaches an appropriate maturity stage, the community can propose, discuss, and decide on the introduction of fees through governance mechanisms. The current charging scheme assumes that the relay will adopt a monthly active user (MAU) model as the charging structure for connection services. This will unlock huge revenue for WalletConnect, which currently has over 600 wallets and 60000+apps connected and is still focused on user growth. 2. Rewards 17.5% of the initial token supply is allocated to incentivize participants of the WalletConnect network in its early years. 5% will be distributed in the first year, and 12.5% will be reserved for the following years. Rewards will be allocated to various community contributors based on various factors, all of which are determined according to the values and goals of the network, with the aim of achieving and driving a better on chain user experience. Node rewards will also consider performance factors such as uptime and latency, encouraging node operators to continuously build and optimize infrastructure to improve availability. 3. Pledge Any WCT holder has the opportunity to pledge their tokens to the network. Pledged tokens enable individuals to further contribute to the stability and sustainability of the network and receive rewards. 4. Governance The governance of WalletConnect network aims to promote decentralization, transparency, and community engagement. WCT holders can vote on proposals and changes, allowing the community to control the development of the network through decentralized governance. WCT Price Analysis The WalletConnect Foundation has raised $10 million through four consecutive oversubscribed token sales. Among them: CoinList community round: 18000 participants, $15.5 million deposited, over raised 4 times Bitget LaunchX： 67000 people deposit $326 million to compete for a quota of 4 million Echo private equity round: $500000 limit sold out in 11 seconds WCT has launched the 67th phase of Binance's launch pool, with a total of 40 million tokens airdropped. Participants include 2B+USDC, 728M+FDUSD, and 18M+BNB. The subscription price for the previous token sale was 0.2U, and currently the trading price for WCT is around 0.6U. From yesterday's high opening near 0.4U to a pullback to 0.3U, there are still many factors affecting the price, with market conditions being the main factor. The opening of new coins is weak, coupled with selling pressure from airdrops and new releases. With the launch of Upbit, the price quickly rose to 0.55U, and FDV also reached 500 million, which can be considered one of the few bright spots in the current market. Next, the short-term price expectation depends on whether it can be listed on Coinbase and whether the market can recover in the near future. After all, Binance and Upbit have already been launched In the long run, WCT's official roadmap shows that other second tier public chains, such as ArborBase, will be launched in Q4 this year, and the latest 4.0 version will be released. There will also be airdrops in the second quarter. If it can be steadily implemented within the year, at least more users will be added, but it still depends on the performance of the 4.0 version.