WalletConnect, an open-source protocol, has announced its first airdrop event, in which 50 million WalletConnect Tokens (WCT) will be distributed to over 160,000 eligible users. The purpose of the airdrop is to allow community participation in network management and enable token staking. WalletConnect enables users to connect their crypto wallets to decentralized applications (dApps) through a QR code or a custom link, making it convenient for mobile users.
In the first airdrop season, 30 million tokens are given to users who meet activity conditions, while 20 million tokens are awarded to key contributors like node operators and early GitHub contributors. Tokens are initially non-transferable but can be staked for seven to two years, with reward distribution starting on December 19.
The airdrop is a step towards decentralized governance and growing the protocol’s user base.
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