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WalletConnect (WCT)

Upcoming
Total Raise: $24,750,000
Date: TBA - 19 Feb 2025

WalletConnect is one of the largest blockchain infrastructure products in the industry, supporting over 600 wallets. It allows users to connect any wallet supported by the app to over 40,000 dApps from both mobile and desktop, using a secure, end-to-end encrypted connection. Wallet Connect is powered by its native $WCT token, whose main utility is to reward node runners, vote on protocol fees, and participate in DAO proposals within the network.

Since its inception in 2018, the WalletConnect crypto project has raised over $24.75M from prominent funds, including Hashkey, Coinbase, ConsenSys, Circle, and many others.

❗️ ❗️ âť— IMPORTANT:

Please be aware that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch doesn’t provide financial advice, nor does it intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 80+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

WalletConnect Overview

Ticker: WCT
Country: Switzerland
Industry: Blockchain Service
Founded: 2018
Whitelist: No
Blockchain Network: Ethereum, Base, Arbitrum, Solana, Avalanche, BSC, zkSync, Optimism.
KYC: No
Bounty: Yes
MVP: Yes
Type: Equity
Security Audit: Yes

WalletConnect Review

🤔 What is Wallet Connect?

WalletConnect is a Web3 infrastructure that aims to solve the main issue hindering mass crypto adoption: the fragmentation of user experience (UX) and developer experience (DX). With the emergence of various blockchains, coding languages, and technologies, numerous new wallets have appeared, each serving its own purpose and offering unique features. However, many of these apps were not suited for secure mobile usage, while developers sought a unified way to support all users' wallets.

This is where the Wallet Connect app comes in. Supporting nearly all currently operational blockchains, it offers a secure, unified solution for dApps to configure new wallets, allowing users to connect over 600 Web3 wallets via both mobile and desktop in an end-to-end encrypted fashion. This is mainly achieved through the WalletConnect network, which consists of several key components:

  • Service Nodes: The database nodes that serve as the network's storage layer.
  • Gateway Nodes: Nodes responsible for facilitating encrypted communication between Web3 wallets and dApps.
  • Relay Service: A crucial part of the network, used to connect users' wallets to dApps in an end-to-end encrypted manner.

For more details on the protocol’s infrastructure, refer to the WalletConnect docs.

🪙 Wallet Connect token: Recently, the platform announced the release of its utility token, $WCT. According to its docs, this token will be used for staking and earning service node rewards, voting on protocol fees, and other governance proposals, as well as incentivizing users with token airdrops.

In addition to announcing the token's release, the protocol revealed the first phase of its airdrop, rewarding the most active WalletConnect users with $WCT tokens. What’s more, on January 28th, 2025 the platform announced a $WCT token ICO on the CoinList - the leading crypto launchpad.

 

In light of the upcoming WalletConnect airdrop, the CoinLaunch team thoroughly analyzed the project and identified some notable pros and cons:

âś… WalletConnect pros:

  • One of the biggest, most widely known, and oldest players in the Web3 market;
  • Over 600 wallets and 40,000 apps connected with the WalletConnect app.
  • Security audit conducted by Trail of Bits (Tier 1);
  • Relatively low FDV rate for CoinList sale as for such popular and widely known protocol in the web3 industry;
  • High SEO performance;
  • Above-average SMM, Influencer marketing, and PR scores;
  • Backed by multiple top-tier funds, including Coinbase, Hashkey, Circle, ConsenSys, and others;
  • The platform possesses one of the largest ecosystems in the Web3 space;
  • Some core team members have worked at prominent companies such as the Bank of England and Amazon.

❌ WalletConnect cons: 

  • Lack of transparency in the tokenomics: the team hasn’t provided a full token release schedule, initial market cap, of the token;
  • Below-average Marketing Infrastructure, and Growth Marketing scores;
  • The CoinLaunch team found only one publicly available security audit for the platform.

WalletConnect Token Economy

Total Raise: $24,750,000
Total Supply: 1,000,000,000
Private/Pre-sale: 20,000,000 (2%)
Public Sale: (0%)
Fully Diluted Valuation (FDV): $200,000,000
Initial Circulation Supply: (0% of FDV)

WalletConnect Token Sale (ICO & IDO) Rounds

Seed: TBA Past

Price: N/A
Tokens for sale: N/A
Raise: $1,250,000
Lock-Up: 1 year cliff then 4-year unlock
Private: Mar 2022 Past

Price: N/A
Tokens for sale: N/A
Raise: $11,000,000
Lock-Up: 1 year cliff then 4-year unlock
Private: Nov 2022 Past

Price: N/A
Tokens for sale: N/A
Raise: $12,500,000
Lock-Up: 1 year cliff then 4-year unlock
ICO: Feb 2025 Past

Price: $0.2
Tokens for sale: 20,000,000
Raise: $4,000,000
Lock-Up: 100% Unlock once transferability is enabled, which is ...
Launchpad: CoinList Logo CoinList
IEO: 17 Feb - 19 Feb Upcoming

Price: $0.2
Tokens for sale: 20,000,000
Raise: $4,000,000
Lock-Up: 100% unlock on TGE
Launchpad: bitget logo Bitget

WalletConnect Token Release Schedule

WalletConnect vesting

WalletConnect Funds and Backers
(3/10)

Submit
Coinbase Ventures logo
Coinbase Ventures
Score: Very High
24 numbers of
investment
Read More
Hashkey Capital logo
HashKey Capital
Score: High
19 numbers of
investment
Read More
14 numbers of
investment
Read More
View All

WalletConnect Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  30 Jan 2025 Upgrade

WalletConnect Team

Pedro Gomes
Pedro Gomes
Founder & Director
Jess Houlgrave
Jess Houlgrave
CEO
Derek R.
Derek R.
CTO
Steven Dolcemaschio
Steven Dolcemaschio
CMO
Alex Svanevik
Alex Svanevik
Board Member
Rohit Ramesh
Rohit Ramesh
Head of BD

WalletConnect News

WalletConnect Roadmap

DEC 2023

Prepare to launch the closed, permissioned WalletConnect Network

Q1 2024

Launch and test the closed, permissioned WalletConnect Network

Q3 2024

Launch and test the open, permissioned WalletConnect Network

2025

Launch the open, permissionless WalletConnect Network

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Total Raise: $3,604,000
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