WalletConnect Simply Proves Itself by the Numbers

Tech

WalletConnect Simply Proves Itself by the Numbers

Launched in November 2024, WalletConnects 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. Februarys 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 protocols first major community distribution of governance tokens.

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