WalletConnect Simply Proves Itself by the Numbers

3 mins mins

Key Points:

– 24M $WCT airdropped to 125K users, 60% staked within weeks.
– 127M+ $WCT staked across 286K+ wallets powers governance and rewards.
– UX Council vote passed with 96.1% approval from 5,755 $WCT voters.

WalletConnect Simply Proves Itself by the Numbers

Launched in November 2024, WalletConnect’s Season 1 airdrop rewarded 125,000+ users, developers, and contributors with 24 million WCT, of which over 60% was staked within weeks.

Staking, which is required for voting, submitting proposals, and receiving rewards, has surpassed 127M WCT across 286,500+ wallets. February’s UX Council vote marked a governance milestone, with 96.1% approval from 5,755 voters shaping product feedback and upgrades.

Interactive campaigns with Ledger, OKX, and other partners continue to drive engagement as WalletConnect progresses through its multi-phase DAO roadmap, transitioning protocol control to its growing global community.

Season 1 Airdrop: Scoring, Claiming, and Eligibility

In November 2024, the WalletConnect Foundation initiated Season 1 of the WCT airdrop, marking the protocol’s first major community distribution of governance tokens.

WalletConnect Airdrop Overview — WalletConnect Season 1 Airdrop Overview. Source: WaIletConnect Ecosystem Edit First Edition: Year in review

The distribution followed a merit-based model, targeting various contributors:

Users who had previously connected wallets using WalletConnect
Wallet and application developers generating transaction volume
Open-source contributors via GitHub and Gitcoin
Verified early supporters, filtered for Sybil resistance

Airdrop Summary:

125,000+ claimants
24 million+ WCT distributed
Over 60% of claimed tokens staked within several weeks
Claim deadline: January 3, 2025

This distribution established the foundation for decentralized governance, aligning token distribution with long-term engagement.

WalletConnect Staking System Explained

Staking is a central feature in WalletConnect, serving multiple functions: network security, reward distribution, and governance participation.

Staking Mechanism:

Durations: 1 to 104 weeks (2 years max)
Longer lock-ups yield higher rewards
7-day unbonding period upon expiration
Optional auto-locking for uninterrupted staking

As of March 2025:

127.4 million WCT staked
Over 286,500 individual WCT holders
Staking is required for submitting or voting on governance proposals, as well as receiving ecosystem rewards

WalletConnect Token Milestone. Source: WalletConnect Ecosystem Edit Third Edition

This structure fosters long-term alignment between stakeholders and the WalletConnect protocol.

UX Council Vote & Snapshot Participation

In February 2025, the WalletConnect community engaged in a major governance event: voting on the establishment of a User Experience (UX) Council.

Voting Results:

5,755 voters participated
2,051,393 stake-weighted votes cast
96.1% voted YES, approving the Council

UX Council Governance Vote Results. Source: WalletConnect Ecosystem Edit Third Edition

The UX Council is now responsible for defining product standards, shaping upgrades, and facilitating feedback collection.

Governance activities are coordinated through:

Snapshot for token-weighted voting
Discourse for proposal discussions
WCT staking as a prerequisite for participation

Questing Campaigns with Ledger, OKX, and More

To incentivize ongoing engagement, WalletConnect launched multiple interactive campaigns targeting both new and returning users:

Ledger collaboration: Airdropped WCT to Ledger users
OKX Cryptopedia S30 Quests: Distributed tokens for completing app tasks
Community quests: Recurring events rewarding power users for sustained activity

These campaigns aim to:

Broaden user participation
Drive interaction with integrated dApps
Ensure WCT reaches real, active participants

The Road to DAO: Governance Phases and Community Role

WalletConnect is in the midst of a multi-phase roadmap to transition control from the Foundation to a fully decentralized DAO structure.

WalletConnect Roadmap. Source: whitepaper.waIletconnect.network

Governance Roadmap:

Phase 1 – Foundation and Reown manage operations
Phase 2 – Establishment of Councils (UX, Tech, Partnerships)
Phase 3 – Community begins submitting proposals
Phase 4 – Council-led technical decisions
Phase 5 – Full control over budget, upgrades, elections

Progression between phases is determined by on-chain governance. By staking WCT, holders gain direct voting rights over:

Protocol upgrades
Reward distributions
Fee structures
Strategic development decisions

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.