WalletConnect To Launch ‘Connect Token’ (WCT) In Major Move Towards Decentralization

• WCT will launch on OP Mainnet
• WCT airdrop to take place
• WalletConnect rebrands to Reown, a UX focused product company

WalletConnect, the onchain UX ecosystem today announced it will launch the Connect Token (WCT), the native token of the WalletConnect Network. WCT marks a significant milestone in the WalletConnect Network’s decentralization roadmap and will be the driving force behind the economic and governance structure of the Network. The WalletConnect Network has experienced 240% growth in connections in the past 12 months and facilitated 150M connections since launch.

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WCT will power the onchain UX ecosystem and allow holders to participate in and earn rewards from the governance of the WalletConnect Network. Wallets and Apps can also earn rewards through staking and performance incentives. The WalletConnect Certified program offers additional incentives for wallets that meet high standards of UX and integration, further encouraging wallets to stay up-to-date with the latest network features and best practices​.

WCT will launch on OP Mainnet. The WalletConnect Network is chain agnostic; Optimism’s strong community, battle-tested OP Stack codebase, and shared vision for better UX and decentralization aligns with WalletConnect’s vision for the onchain future. With the addition of WCT, WalletConnect Network will begin the process of transitioning to a permissionless structure governed by the community. Consensys, Kiln, Ledger, Luga Nodes, 1kx, Figment and Sensei Nodes are all part of the initial third-party node operators.

The newly formed WalletConnect Foundation will steward the WalletConnect protocol and ensure the growth, security, and decentralization of the Network and the expansion of the ecosystem. Pedro Gomes, the founder of WalletConnect will join the Foundation as Director. Pedro will be accompanied by Yessin Schiegg, Yessin will join as CFO of the WalletConnect Foundation. Yessin was previously a board member at the Ethereum Foundation and most recently the CFO of the Near Foundation.

Pedro Gomes, Director of the WalletConnect Foundation says “Since WalletConnect’s inception in 2018 the goal was always for it to become critical and decentralized infrastructure for the new internet, with the addition of WCT we are making that goal a reality. The WalletConnect Network has experienced 240% growth in the past 12 months, WCT will incentivise even more growth and bring in even more partners. We're excited to see the evolution of the Network and continue to play a pivotal role in the new internet”.

To further the decentralization of the WalletConnect Network and strengthen the active ecosystem, there will be a WCT airdrop. Registration for the WCT airdrop will open on September 24th. The airdrop eligibility structure is based on use of the WalletConnect Network. Further details on registration will be released in the coming days.

Ryan Wyatt, Chief Growth Officer of Optimism Unlimited says “WalletConnect has provided a core service in web3 for a number of years. Both Optimism and WalletConnect believe in a decentralized future with an open, equitable internet. We’re thrilled that WalletConnect Network has chosen to launch in the Superchain ecosystem, and celebrate this milestone on their path to decentralization.

WalletConnect Inc has rebranded to Reown. Reown is a UX-focused company that provides toolkits for those building onchain user experiences. Reown focuses on combining innovation with reliability and will utilize the Reown’s AppKit and WalletKit built on top of the WalletConnect network, which are used by over 6,000 apps and 600 wallets. Reown will continue to be led by CEO Jess Houlgrave.

Jess Houlgrave, CEO of Reown says “Web3 is yet to achieve the lofty goals spoken about by many. The average person will have heard of Bitcoin or NFTs but will likely struggle to set up a wallet or mint and send an NFT. Reown is focused on changing this and making the new internet usable and accessible. Reown will work with partners across all chains and ecosystem to help make using the decentralized internet as intuitive as possible”.

Reown will empower the builders of tomorrow with toolkits designed to scale digital ownership. Reown’s mission is to make onchain UX usable and unlock a future that is open, permissionless, and decentralized, enabling builders to innovate and reach beyond the walled gardens of a single app, organization, or protocol, and liberating users from the same confinements.

About WalletConnect:

The WalletConnect Network founded in 2018 is the onchain UX ecosystem. The Network is made up of millions of stakeholders each contributing to an onchain future. Through a global infrastructure of nodes, the WalletConnect Network powers over 15 million user connections a month across 100+ chains, 500+ wallets, and 6,000+ apps in seconds.

About Reown:

Reown is the onchain UX platform. Reown products, AppKit and WalletKit — are designed for individuals and organizations building products onchain. At its core, it focuses on merging innovation with reliability and ease of use to enable all builders to provide web3-native features within their products and bring the vast opportunities and better future that the new internet brings to their communities.

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