WalletConnect to Launch Connect Token with Airdrop on Optimism Network

WalletConnect is preparing to unveil its new Connect Token (WCT) on the Optimism OP Mainnet, an Ethereum Layer 2 network.

The company plans to distribute the token through an airdrop starting September 24.

The WCT token signifies a key milestone in WalletConnect’s decentralization strategy, aimed at driving both economic incentives and governance within its ecosystem. The airdrop will target a diverse group including end users, wallets, applications, and contributors to the network.

Under its new name, Reown, and continuing with CEO Jess Houlgrave, WalletConnect will release 1 billion WCT tokens, with 185 million allocated for the first airdrop phase. To participate, users need to register by linking their wallets, GitHub accounts, and email addresses, with eligibility based on active engagement and contributions. The initial airdrop phase will end on October 11, and tokens will be distributed based on historical activity.

Initially, WCT tokens will not be transferable to maintain network stability, with potential future transferability depending on community governance decisions. The WalletConnect Foundation will manage the protocol’s growth and security, supported by initial node operators like Consensys and Ledger.