WalletConnect has announced the launch of its governance token WCT on the Solana network, executing a 5 million token airdrop for active users.
WCT Token Launch on Solana
WalletConnect, founded by Pedro Gomes, has released its WCT governance token on the Solana network and conducted a 5 million token airdrop for users. This event marks the beginning of WalletConnect's shift to a multi-chain process, as noted by Gomes. The integration with Solana involves collaborations with major applications like Phantom, Jupiter, Backpack, and Solflare.
Impact on the Solana Ecosystem
The immediate result includes increased engagement with WalletConnect’s partners in the Solana ecosystem. The airdrop adds liquidity and may enhance transaction volumes on the platform. Major Solana applications like Save and Drift have already integrated WalletConnect's infrastructure, illustrating significant ecosystem involvement.
Prospects of Multi-Chain Strategy
Changes in WalletConnect's model, transitioning from 'Ethereum-centric' to 'chain-independent', may open up new cross-chain interaction opportunities. According to Pedro Gomes, 'the protocol is moving towards multi-chain compatibility'. Positive community response is evident in forums and social media.
The launch of the WCT token on Solana may strengthen both WalletConnect and the Solana ecosystem, fostering the emergence of new opportunities in multi-chain DeFi.
