WCT, the native cryptocurrency of WalletConnect, has launched on Solana following the earlier launch on Ethereum and Optimism’s OP mainnet. WalletConnect Foundation has announced an airdrop of 5 million WCT tokens to the active participants in the Solana ecosystem to support the Solana launch and promote it to a large-scale audience. The WCT launch on Solana comes just after WCT went live on Ethereum and its original launch on OP mainnet.
WCT Launched on Solana, Making it the Third Chain after OP Mainnet and Ethereum
WalletConnect is a protocol network that connects crypto wallets to applications. WCT is its native currency, and it launched on Solana in less than a month after launching on Optimism’s OP mainnet and Ethereum. The Solana expansion of WCT leverages the Native Token Transfers (NTT) framework, which is a unique feature used in Warmhole, one of the leading interoperability platforms. By leveraging Warmhole’s NTT framework, NCT can move natively across all three compatible blockchains, not as a wrapped coin.
The launch of WCT on Solana makes the transactions within the network faster and cheaper, and with the launch, WalletConnect will become easier to use across Solana apps. Pedro Gomes in WalletConnect stated that it would eventually open new governance opportunities and further connect WalletConnect to one of the most vibrant on-chain communities. He also mentioned that, at that time, WCT staking and governance were available only on Optimism’s OP Mainnet.
WCT token is expected to start trading on the Solana decentralized exchanges soon, and all the users will be able to move their tokens using Wormhole’s NTT framework. Backpack, Kamino, and Drift are some of the major Solana apps that use WalletConnect’s AppKit, so the Warmhole NTT integration will allow these apps to support and directly use the WCT tokens.
Pedro Gomes noted that, notably, Solana apps like Backpack, Drift, Kamino, and Marinade were already using Reown’s AppKit, which is a software development kit built on top of the WalletConnect protocol. He mentioned that while many Solana projects had integrated the AppKit to enable WalletConnect connectivity, the Wormhole NTT integration now allowed these apps to also support the WCT token directly, including listing, trading, and eventually staking and governance features.
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Airdrop Worth $5 Million WCT Targeting Solana Users Will Roll Out Soon
WalletConnect has officially unveiled its airdrop campaign targeting Solana users, integrated wallet users, developers, and ecosystem partners after its WCT launch on the Solana blockchain. They will be conducting the airdrop worth approximately $5 million WCT, and this airdrop will be a part of WalletConnect’s promotional strategy to accelerate its conversion to decentralized governance using WCT as a means of voting and decision-making tool within the ecosystem.
WalletConnection Foundation will airdrop its latest $5 million WCT to its active Solana users and partners like Jupiter, Phantom, Backpack, and Solflare. Pedro Gomes already stated that those $5 million tokens allocated in the latest airdrop campaign will be taken from the foundation’s 185 million WCT airdrop reserved in the last September. According to the foundation officials, this airdrop campaign will be the second-largest WCT airdrop that the WalletConnect foundation has ever introduced.
Previously, in the first quarter of last year, the WalletConnect foundation distributed WCT tokens worth $50 million to the WalletConnect community members.
Waifu Drops, a prominent on-chain analyst from X (previously Twitter), tweeted that WalletConnect is bringing $WCT to Solana, with a 5 million token airdrop for active users. They stated that this targeted distribution would reward genuine users who are building, staking, and transacting on Solana. They also mentioned that partners like Phantom, Jupiter, Backpack, and Solflare would help identify eligible participants.
Furthermore, they advised that if someone is an active Solana user, they should stay tuned for eligibility criteria and claim instructions coming soon. They emphasized that this marks the beginning of $WCT’s expanded utility on Solana.