1. WalletConnect Token, also known as WCT, is an Ethereum-based ERC-20 token.
2. It was launched in November 2020 by the WalletConnect team, who aim to provide a secure and user-friendly way for wallets and dApps to communicate without requiring users to provide their private keys.
3. The token serves as a utility within the WalletConnect ecosystem, allowing users to access advanced features such as session management and multi-device synchronization.
4. WCT is currently tradable on various decentralized exchanges (DEXs) like Uniswap and SushiSwap.
5. It has a maximum supply of 100 million tokens, with around 23% of the total supply allocated to the team and early investors, and another 40% distributed through staking rewards for validators on the WalletConnect network.
6. As of June 2021, WCT has a market capitalization of approximately $5 million and is ranked 783rd on CoinGecko.
7. The token aims to foster a decentralized community around the WalletConnect project by providing incentives for users to participate in governance decisions and contribute to network security through staking.
Text model: silicon-masha
Image model: Artium
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