Project & Team
Description of Project
Provide a narrative description of the purpose of the project.
WalletConnect Network is the connectivity layer for the financial internet. It enables seamless and secure connection and transaction capabilities between users’ crypto wallets and decentralized applications. Established in 2018, the Network is wallet, asset, app and chain agnostic. It enables the users of over 700 different wallets, from mobile and hardware wallets to institutional and custodial wallets, to seamlessly interact with over 70k applications.
Known Project Team
For each existing entity, list key team members with full name, official title, and prior experience. Explicitly mark non-existent entities.
Labs / DevCo
Full Name | Official Title | Prior Experience |
|---|---|---|
Jess Houlgrave | Chief Executive Officer | Crypto GTM & Strategy at Checkout.com;Founder of shEOS; Co-Founder & COO of Codex Protocol |
Riaz Bordie | Chief Technology Officer | CTO at Checkout.com; VP of Engineeringat SumUp; VP of Engineering at H Company |
Steven Dolcemaschio | Chief Marketing Officer | Head of Brand Marketing at Ledger; Senior Director, Global Brand & Content Marketing at Dashlane; Director, Global Brand Marketing at Sonos; Senior Manager, Global Brand Communications at Converse, Nike |
Lewis Nurcombe | Chief Revenue Officer | Head of UK & Ireland at Visa; General Manager at Currencycloud |
Nacho Rivera | Head of Product | Head of Product at Fleek; Chief Technology Officer at Simpleat; COO at Wolox |
Chris Murrer | Chief Legal & Strategy Officer | Head of Digital Assets Legal at Checkout.com; Attorney at BakerMckenzie, Venable and Hodgson Russ |
Rachel Morris | Head of People & Operations | Director of Revenue Operations at Checkout.com; Head of Ecommerce at the Conran Shop |
Foundation
Full Name | Official Title | Prior Experience |
|---|---|---|
Pedro Gomes | Founder & Director | Full Stack Engineer at Connext; Full Stack Engineer at Balance.io; Frontend Engineer at Loot Financial Services |
DAO / Onchain Governance
Full Name | Official Title | Prior Experience |
|---|---|---|
N/a | ||
Blockworks note: Labs/DevCo — Reown, Inc. (formerly WalletConnect, Inc.) |
DAO Structure
Describe DAO governance, powers, economic rights, and control surfaces. If no DAO exists, state so and still address current tokenholder governance rights and economic arrangements.
- (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
- (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles, governance-executor authorities, and the method of authority for each.
- (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
- (d) Current tokenholder governance rights and economic arrangements — If any, describe current governance rights of tokenholders and presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
- (f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism.
(a) IP ownership & control
N/a
(b) Contract/admin powers
The WalletConnect Network multisigs are controlled by a range of participants across and outside of the WalletConnect Foundation and Reown, Inc. who enact the views of the community. Governance proposals by the community are voted via Snapshot (https://snapshot.box/#/s:walletconnect.eth) using a simple-majority mechanism with no specified minimum quorum. WCN smart contracts are deployed on OP mainnet and provide the tokenomic mechanisms to coordinate the network of members, partners and nodes. Upgrades to these smart contracts require a 5-of-7 Admin multisig and a separate 2-of-5 Pauser multisig for pausing contracts in case of an incident. A separate 5-of-7 Emergency multisig exists for recovery if the smart contracts were paused Pauser is not time-locked so its effect is immediate to incidents, but both Admin and Emergency multisigs are timelocked by 7 days.
(c) Locked-token rights (conditional)
WCT allocated to insiders (early backers, early team), even while subject to lock-up, vesting or other transfer restrictions, are eligible to accrue staking rewards from the WalletConnect Network; accrued staking rewards are not subject to lock-up or vesting. Insiders who stake locked tokens may also participate in Network governance via Snapshot. As with all tokenholders, Snapshot governance is dictated by the stakeweight of participants Stakeweight is calculated by both the duration of the unlock period and the amount of tokens staked
(d) Current tokenholder governance rights and economic arrangements
WCT holders shape the Network through governance — voting on key proposals, network upgrades, and community initiatives via Snapshot. Any proposal relating to fees and/or value-accrual mechanisms are proposed for a community vote. Past proposals: P1 – UX Council Governance Proposal (Passed); P2 – WCT Transferability Criteria Proposal (Passed). Network fees are not yet enabled; if implemented (subject to a community vote) they would likely be denominated in WCT and flow into the rewards pool, distributed among token-holding participants (wallet partners, node operators, individual stakers). Governance documentation: https://docs.walletconnect.network/governance.
(e) Control surface reliance
The governance model is designed to encourage contributions from a variety of stakeholders: the WalletConnect Foundation initially stewards the network but solicits input from community-elected councils, such as the WalletConnect Council formed July 2025, tokenholders and node operators.
(f) Dissolution authority
Since a DAO has not been formally established, there is no dissolution authority.
Blockworks note: The WalletConnect Foundation has established several mechanisms for input, contributions, and guidance from various parties, including a WalletConnect Council. However, a DAO has not been officially established.
Primary Foundation
Describe the Primary Foundation, including entity details, IP ownership, governance or token powers, contract/admin powers, and economic arrangements. If it does not exist, state so explicitly.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls and an explanation of any subsidiary entities.
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe current powers over DAO governance, treasury actions, protocol-controlled resources, token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over DevCo — Explain whether the Foundation can exert direct or indirect influence over decision-making of the Developer Company.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each.
- (f) Current economic arrangements and distribution policies — Describe current governance-approved, contractual, or programmatic mechanisms by which protocol-controlled resources may be directed to this entity, its equityholders, contributors, or other participants. If none exist, state that explicitly.
(a) Entity
WalletConnect Foundation — a Cayman Islands foundation company that acts as the Network’s steward. The Foundation has zero shareholders, beneficiaries, members and owners.
(b) IP ownership & control
/ subsidiaries: WalletConnect Foundation holds an 100-year license to use, reproduce and distribute WalletConnect trademarks, brand assets and logos, the WalletConnect Network source code as published at https://github.com/WalletConnectFoundation/irn and the WalletConnect Wallet Guide as described at https://walletguide.walletconnect.network/.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
Powers over DAO, treasury, resources, token administration
The Foundation provides guidance in effecting the results of the community’s governance. The Foundation does not have exclusive control over any DAO, network treasury, resources or token administration.
(d) Powers over DevCo
The Foundation provides milestone-based funding to Reown, Inc. to support ongoing development efforts.
(e) Contract/admin powers
Certain directors of the Foundation are among the multi-sig signers for Network multisigs, however these individuals do not control a majority of the signers. The individuals also sign the multi-sig in their individual capacity and not as a director of the Foundation. Please see 3.(b) for more information regarding the Network Multisigs.
(f) Current economic arrangements and distribution policies
Network fees are not yet enabled. No value-accrual mechanisms from the Network are expected to directly benefit the Foundation or Reown, Inc. equity holders (e.g., via dividends or revenue sharing). Presently, any Network fees are expected to flow to the Network rewards pool for distribution among token-holding participants. Such a change would be subject to a community proposal and governance vote.
Primary Developer Company
Describe the Primary Developer Company, including entity details, IP ownership, governance or token powers, contract/admin powers, and economic arrangements. If it does not exist, state so explicitly.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls and an explanation of any subsidiary entities.
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe current powers over DAO governance, treasury actions, protocol-controlled resources, token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over Foundation — Explain whether the Developer Company can exert direct or indirect influence over decision-making of the Foundation.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each.
- (f) Current economic arrangements and distribution policies — Describe current governance-approved, contractual, or programmatic mechanisms by which protocol-controlled resources may be directed to this entity, its equityholders, contributors, or other participants. If none exist, state that explicitly.
(a) Entity
Reown, Inc. (d/b/a WalletConnect) — a Delaware corporation with equity owners; the original developer of WalletConnect and a core contributor to the Network. Reown has a fully owned subsidiary, WalletConnect Ireland Ltd., an Ireland limited company.
(b) IP ownership & control
/ subsidiaries: Reown, Inc. develops key software and infrastructure for the WalletConnect Network. Reown owns WalletConnect trademarks, and code repos published on GitHub that enable connection to the WalletConnect Network. https://github.com/walletconnecthttps://github.com/reown-com
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
Powers over DAO, treasury, resources, token administration
Reown received an initial allocation of 70,000,000 WCT and makes post-TGE token-based compensation to its own team members from that allocation; it receives milestone-based funding from the Foundation. Reown controls its own corporate treasury. Reown does not control the Network treasury or Network token administration. As noted, no DAO has been established.
(d) Powers over Foundation
Reown does not control the WalletConnect Foundation.
(e) Contract/admin powers
Certain Reown personnel are among the signers on the Network multisigs (which include participants from several organisations). These individuals execute their signatures, or refrain from signing, in their individual capacities and not on behalf of Reown.
(f) Current economic arrangements and distribution policies
No value-accrual mechanisms from the Network are expected to directly benefit Reown, Inc. equity holders via dividends or revenue sharing. Reown receives milestone-based funding from the Foundation and manages its WCT treasury allocation (used in part for Reown team compensation).
Affiliated Protocol Contributor
Identify affiliated protocol contributors and explain their control, funding, or operational relationship to the project. If none exist, state so explicitly.
- (a) Identity & role — Legal name, entity type, jurisdiction, and role.
- (b) Parameter control & scope — If any, what major protocol parameters the APC controls; include the method of authority. If none, say so.
- (c) Contract/admin powers — If any, provide pause/upgrade powers, governance-executor authorities and limitations; include the method/threshold for each. If none, say so.
- (d) Compensation and material economic arrangements — If any protocol-generated resources or economic value is dynamically routed to the APC, describe the arrangement. If none, state that explicitly.
(d) Compensation and material economic arrangements
Blockworks note: Protocol Contributor
There are no APCs that have control or authority over the Network.
Token Supply
Initial Allocation
Disclose launch and initial supply details in a single initial allocation schedule covering the token's launch. Include:
- (a) Launch supply totals — The total number of tokens issued at launch, the total number of tokens locked at launch, and the total number of tokens unlocked at launch.
- (b) Recipient categories & use of funds — The recipient categories with brief explanations as to how the category will use the tokens so an auditor can distinguish each bucket.
- (c) Initial price per token — The expected initial price per token.
- (d) Ticker / market symbol — The ticker/market symbol.
- (e) Total supply & supply regime — The total supply and whether the supply is fixed (if not explain inflation rate or deflation rate).
- (f) Initial vesting / release schedules — The initial vesting/release schedules (identify which categories/recipients are subject to vesting and the high-level timing logic).
(a) Launch supply totals
1,000,000,000 WCT were minted on the TGE date. Initial circulating supply was 186.2m WCT; the remainder (≈ 813.8m WCT) are released into circulation over time. For more information regarding the projected unlock or release schedules for the non-circulating supply, please see CoinMarketCap (https://coinmarketcap.com/currencies/walletconnect-token/#token_unlocks).
(b) Recipient categories & use of funds
Of the 1 billion WCT TGE supply: WalletConnect Foundation 27% earmarked for grants, marketing and operations; Ecosystem Airdrops 18.5% earmarked for community initiatives, incentives and education campaigns; Early Team 18.5% allocated to these individuals according to unlock schedules; Flexible Rewards 17.5% earmarked for network incentives that are periodically distributed to token stakers and node operators; Early Backers 11.5% allocated to early financial contributors to the Network according to unlock schedules; Core development 7% earmarked to support Reown as a core contributor to the Network.
(c) Initial price per token
(at TGE): Initial price discovery was set organically by the market after listing on centralized exchanges.
(d) Ticker / market symbol
WCT (WalletConnect Token).
(e) Total supply & supply regime
Total supply is 1,000,000,000 WCT, currently capped. The cap may be increased only by a community vote; WalletConnect Foundation and Reown, Inc. are not aware of any plan or intention to increase the 1bn supply.
(f) Initial vesting / release schedules
WCT received via token warrant (investors of Reown, Inc.): 4-year lock-up with a 1-year cliff beginning from 26 November 2024. WCT allocated to core team members at TGE: unlock schedules with a 1-year cliff beginning from the respective team member’s start date with Reown. Custodial services enforce insider lock-up/vesting schedules.
Vesting Insider Tokens
If there are not post-TGE token compensation plans state explicitly they do not exist. If there are then state the:
- A) Post-TGE employee lock as % of circulation. State the current total amount of tokens locked or unvested attributable to post-TGE employees, expressed as a percentage of current circulating supply. If circulation isn't used, an explicitly labeled equivalent (e.g., "% of total supply" or "% of FDV") is acceptable. Must include an "as of" timestamp.
- B) Typical post-TGE vesting schedule. Describe the standard vesting terms used for post-TGE grants, including: cliff length (or "no cliff"), vesting frequency (e.g., monthly/quarterly), and total duration. If variants exist (e.g., performance grants), note the typical range.
(a) Post-TGE employee lock as % of total supply
Up to 3% of the total supply of WCT is earmarked for future (post-TGE) team members, funded out of the existing WalletConnect Foundation and Reown, Inc. allocations.
(b) Typical post-TGE vesting schedule
Post-TGE team members of Reown are eligible for annual token bonuses based on position and overall compensation package. Receipt of each bonus is conditioned on the team member reaching a tenure milestone (typically a calendar year). The bonus program expects to be in effect each year. Tokens received after completing a tenure milestone are not subject to any continued vesting or lock-up. The WCT used for these bonuses are sourced from Reown’s initial allocation from TGE.
Disclosure of Token Advisory Billings
Disclose token-based compensation for external advisors and service providers (e.g., legal, marketing, technical, growth) funded from the on-chain treasury or token reserves held by the Foundation, Labs/DevCo, or similar entities. You do not need to disclose individual names, roles, salaries, or any advisors receiving fiat-only compensation. Provide:
- (a) Whether any such token-based payments or advisory commitments exist (or explicitly state that no token-based compensation for advisory commitments exist).
- (b) The total token allocation across all advisory services (tokens paid and/or reserved in aggregate).
- (c) The payer entity (e.g., Foundation, Labs/DevCo, DAO/treasury).
- (d) A brief description of the advisory/services (e.g., "legal and regulatory advisory," "growth and BD support," "security advisory").
-
Existence: Aside from team members known and engaged directly by the WalletConnect Foundation, there are no additional advisory agreements between Reown, Inc. team members and the Foundation, and Reown, Inc. team members do not receive compensation from the Foundation. On that basis, no separate token-based advisory billings to external advisors are disclosed. Currently neither the Foundation nor Reown has any of these advisory. WCT is pay certain invoices or grants but not any existing advisory services.
-
Total token allocation: N/a
-
Payer entity: N/a
-
Description of advisory/services: Description of services
N/a
KOL Marketing Activities
Disclose ongoing KOL/influencer relationships that partially or fully received tokens for payment. Do not need to disclose KOL/influencers that do not receive tokens for payment. Use lettered sub-items:
- (a) Existence & scope: State plainly whether KOLs receive tokens for payment, if none say so.
- (b) Usernames & roles: List usernames/handles (with platforms) for participating KOLs and describe their roles/activities. Legal names are not required.
- (c) Token allocation & vesting/locks: Say whether tokens were allocated to KOLs. If yes, provide the aggregate token amount across all KOLs and summarize vesting/lock terms (e.g., cliff and vest length, or "no vest/locks").
- Existence & scope: WalletConnect Foundation works with a group of content creators referred to as the WalletConnect Creators Cabal. The objectives of the group are to build curated group of technical and lifestyle creators who can create and publish content about WalletConnect; guide consistent, high-quality content output across regions; and focus on authentic content collaboration, not transactional ambassador-style programs.
- Usernames & roles: Membership in the cabal is adjusted overtime meaning that the involved individuals may change over time. Accordingly there is no set list of usernames or roles.
- Token allocation & vesting/locks: Token allocations to the members of the cabal ranges from 1,000-10,000 in WCT per month depending the level of productive engagement with their content. These allocations are not subject to vesting or unlock schedules. Since January 2026, a total of 305,300 has been allocated to cabal members (as of 17 June 2026).
Labelled Unissued & Operational Token Wallets
Publicly label all wallets that hold Unissued Tokens (e.g., foundation, operations, treasury, investor reserve), keep each category in distinct wallets (a unique address per category), and disclose who controls each wallet (DAO multisig, foundation, labs/devco, operations, or contract controller + admin). Include one verification link per wallet (docs or explorer). Definition: Unissued Supply = tokens authorized by the contract but not yet issued to any party; where they sit (treasury or mint authority) does not change that they are unissued. For instance: if a token has a total supply cap of 1B, and 400M tokens have been issued to investors, the team, and users (whether vested or unlocked), then those 400M count as issued supply. The remaining 600M are authorized but unissued supply, even if they are already minted into a DAO treasury wallet.
Title | Primary Function | Chain | Address | Control Mechanism | Explorer Link |
|---|---|---|---|---|---|
Genesis (WCT) | Genesis allocation | Optimism | 0xa86Ca428512D0A18828898d2e656E9eb1b6bA6E7 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0xa86 Ca428512D 0A1882889 8d2e656E9 eb1b6bA6E 7 |
Treasury (WCT) | Treasury | Optimism | 0x51F651B1482F7EF18bcbBBF0307035Ba9703f25C | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0x51F 651B1482F 7EF18bcbB BF0307035 Ba9703f25 C |
Treasury (WCT) | Treasury | Optimism | 0xC401D6C0b79b5DF63C530b6f02AaaC1aE5C5cb90 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0xC40 1D6C0b79b 5DF63C53 0b6f02Aaa C1aE5C5c b90 |
Treasury (WCT) | Treasury | Optimism | 0x5e4695d417925016266db6a9e4593afb5a1ed7ba | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0x5e4 695d41792 5016266db 6a9e4593af b5a1ed7ba |
Treasury (WCT) | Treasury | Optimism | 0xf853f030927762dc0f4afab429e3b04568b61c61 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0xf853f030927762dc0f4afab429e3b04568b61c61 |
Treasury (WCT) | Treasury | Optimism | 0x3635457359ecba79b00d8f237318dd87f30c7246 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0x363 5457359ec ba79b00d8f 237318dd8 7f30c7246 |
Treasury (WCT) | Treasury | Optimism | 0x9ce1b7d493cb094c5148d0adcbc24b66b70fd60d | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://optimistic.ether scan.io/add ress/0x9ce 1b7d493cb 094c5148d 0adcbc24b 66b70fd60d |
Treasury (WCT) | Treasury | Solana | 5hbqkbKJqZj3MNEwhdguzWXqH Mhi2ET4Bm22ZRRykJkE | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://solscan.io/accou nt/5hbqkbK JqZj3MNEw hdguzWXq HMhi2ET4 Bm22ZRRy kJkE |
Treasury (WCT) | Treasury | Base | 0xB21AC9aE1D7EE67667c547341D1291373a8269Ab | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://basescan.org/ad dress/0xB2 1AC9aE1D 7EE67667c 547341D12 91373a826 9Ab |
Treasury (WCT) | Treasury | Base | 0x4175390826390959A2893F9b7Ce710bA06a71e32 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://basescan.org/ad dress/0x41 753908263 90959A289 3F9b7Ce71 0bA06a71e 32 |
Treasury (WCT) | Treasury | Solana | FGfjkeAvmodQFzWBko3fShcL8X M3APRG8z5JWtkfBev1 | WalletConnect Foundation / WalletConnect Limited multisig; signers across several orgs | https://solscan.io/accou nt/FGfjkeAv modQFzW Bko3fShcL 8XM3APR G8z5JWtkf Bev1 |
Foundati on treasury | Foundation working capital / assets | Ethereum | 0x969EA53cb7aC16D2BD97d3E0265192D0B05616b7 | WalletConnect Foundation | https://etherscan.io/add ress/0x969 EA53cb7aC 16D2BD97 d3E026519 2D0B05616 b7 |
Foundati on treasury | Foundation working capital / assets | Ethereum | 0x39DED9e6ff3FD545cC25B3BB66DF04B2F74B5e79 | WalletConnect Foundation | https://etherscan.io/add ress/0x39D ED9e6ff3F D545cC25 B3BB66DF 04B2F74B5 e79 |
Foundati on treasury | Foundation working capital / assets | Ethereum | 0x29A285bAC1888535183dF61eBF16e59781E03Ece | WalletConnect Foundation | https://etherscan.io/add ress/0x29A 285bAC188 8535183dF 61eBF16e5 9781E03Ec e |
Foundati on treasury | Foundation working capital / assets | Optimism | 0x29A285bAC1888535183dF61eBF16e59781E03Ece | WalletConnect Foundation | https://optimistic.ether scan.io/add ress/0x29A 285bAC188 8535183dF 61eBF16e5 9781E03Ec e |
Market Structure
Market Maker Agreements & Deals
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. For each market maker, include in a table:
- (a) Market maker's name — the market maker's name;
- (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
- (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
- (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model) without describing trading strategy or expected outcomes.
If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for this item.
- Market Maker Name: GSR
- Token Allocation Committed: 8.0M WCT
- Term Duration: Expires between April 2026 and April 2027
- Structure Name: Loan agreement
- Market Maker Name: Flow Traders
- Token Allocation Committed: 7.5M WCT
- Term Duration: Expires between April 2026 and April 2027
- Structure Name: Loan agreement
- Market Maker Name: Selini
- Token Allocation Committed: 7.0M WCT
- Term Duration: Expires between April 2026 and April 2027
- Structure Name: Loan agreement
- Market Maker Name: Lhava
- Token Allocation Committed: 4.0M WCT
- Term Duration: Expires between April 2026 and April 2027
- Structure Name: Loan agreement
Blockworks note: WalletConnect has token-loan agreements with four active market makers providing liquidity across centralized exchanges and AMM/DEX pools. All arrangements are native-token loans; no cash/fiat retainer model is used. Aggregate exposure was previously disclosed as 25M WCT (2.5% supply); following a market-maker restructuring it is now ~26.5M WCT (~2.65% supply).
CEX / DEX Agreements & Deals
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
- (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
- (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
- (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
- (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit. If no native-token listing fees were paid, state that explicitly; cash/fiat fee amounts are not required for this item.
- Exchange Name: Binance
- Token Allocation Committed: 50m WCT (5% of supply)
- Term Duration: N/A
- Native Token Listing Fees: N/A
- Exchange Name: OKX
- Token Allocation Committed: 10m WCT (1% of supply)
- Term Duration: N/A
- Native Token Listing Fees: N/A
- Exchange Name: Gate, Kucoin, Crypto.com, Bitkub, Coins.ph, CoinDCX (Learn & Earn / similar campaigns)
- Token Allocation Committed: 2m WCT (0.2% of supply)
- Term Duration: N/A
- Native Token Listing Fees: N/A
Liquidity Deals and Market Activity
If a category does not exist or is not applicable, make that clear in plain language (no specific wording required).
- (a) Buybacks & re-release (bought-back tokens only): source of funds (e.g., % of revenue), treatment (burn/treasury/POL), controller/approvals (DAO, multisig, or contract), and whether bought-back tokens can ever be re-released; if "never," give the mechanism (burn or irrevocable timelock); otherwise state the re-release policy.
- (b) Protocol-owned liquidity (POL): where deployed, total token or dollar size across all deployments, controller, and unwind/exit policy.
- (c) Liquidity deals / purchased TVL: the total size across all deals, and where the capital participates - no counterparty names needed.
- (d) Token-secured loans/lines (incl. against unissued tokens): principal, gross position size, collateral, counterparties, and unwind/exit policy.
-
Token repurchases or secondary-market accumulations (if any): Token repurchases / secondary-market accumulations
N/A
-
Protocol-owned liquidity (POL): N/a
-
Liquidity deals / purchased TVL: N/a
-
Token-secured loans/lines (incl. against unissued tokens): WalletConnect Limited entered into loan agreements with GSR, Flow Traders, Selini and Lhava with an aggregate principal loan amount of 25m WCT (2.5% of total supply). These agreements expire between April 2026 and April 2027. N/a
Resources
Prior Token Sales & Fundraising
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
- (a) Series Name / Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.)
- (b) Date of sale (at least month & year).
- (c) Number of tokens sold (or % of total supply)
- (d) Vesting schedule
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.")
- Series Name: Equity fundraises with issuance of token warrants. Token Warrants were issued to Stock purchasers of Reown
- Date Of Sale: Closing began 29 October 2024
- Number of tokens sold: 115m WCT allocated to token warrant holders (11.5% of supply)
- Vesting Schedule: 4-year unlock from 26 Nov 2024; 25% unlocks 26 Nov 2025, then linear monthly for the remaining 3 years
- Series Name: Private and public sales of WCT by WalletConnect Ltd.
- Date Of Sale: February 2025
- Number of tokens sold: 51.9m WCT (≈ 5.19% of supply)
- Vesting Schedule: Transferable upon transferability enablement on 15 April 2025, except 1.25m WCT on a 4-year unlock from 26 Nov 2024 (25% on 26 Nov 2025, then linear monthly for remaining 3 years)
Operational Funding, Economic Flows, and Resource Provisioning
Provide a narrative description of the Project's material funding sources, economic flows, and operational provisioning, broken out by entity: Foundation, Lab/DevCo, and DAO. If an entity does not exist, state that explicitly. If an entity exists but does not pursue revenue-generating activity, state how it funds or provisions its operations.
- (a) Entity existence — Explicitly state whether each of Foundation, Lab/DevCo, and DAO exists.
- (b) Material sources of funding or economic inflows — For each existing entity, describe its primary sources of operational funding or economic inflows, if any (e.g., service fees, grants, donations, treasury reserves, token reserves, staking rewards, validator/sequencer income, partnership payments, retained revenue, or other protocol-related receipts). If none, state "none."
- (c) Operational use of resources — Briefly describe how those resources are generally used (e.g., development, operations, security, ecosystem support, grants, liquidity support).
- (d) Onchain Resource Usage — Provide links to public dashboards and token holder relations reports that help explain on-chain financial activity, treasury activity, fee flows, rewards, or other protocol-controlled resources. Make certain to explain what each link is for.
(a) Entity existence
- Foundation — the WalletConnect Foundation exists.
- Lab/DevCo — Reown, Inc. (formerly WalletConnect, Inc.) exists.
A DAO is not formally organized.
(b) Material sources of funding or economic inflows
Network fees are not yet enabled, so the Network currently generates no fee revenue. Node operators and wallet partners receive WCT rewards disbursed from the dedicated ‘rewards’ token allocation and paid out by WalletConnect Limited (it is intended that, over time, rewards will be funded by Network fees). Reown, Inc. is funded via milestone-based funding from the Foundation. The Foundation holds assets across on-chain and off-chain venues (including traditional banks and custodians) and token reserves.
(c) Operational use of resources
Resources fund ongoing software/infrastructure development (Reown), rewards to node operators / wallet partners / stakers, and broader ecosystem support and operations.
(d) Onchain Resource Usage
- CoinMarketCap token-unlocks page (circulating-supply and unlock tracking): https://coinmarketcap.com/currencies/walletconnect-token/#token_unlocks;
- WCT Dune dashboard (on-chain insights, airdrop claims): https://dune.com/walletconnect/wct;
- WalletConnect blog / forum (monthly KPI and ecosystem updates): https://walletconnect.network/blog; on-chain treasury addresses are listed in Section 11.
Reporting cadence: the Foundation currently publishes monthly updates via its public forum and maintains monthly token/circulating-supply updates with CoinMarketCap and major exchanges; commencing no later than Q1 2026 it plans to issue quarterly updates on its financials and activities via a public forum.
Previous Exploits Affecting The Native Token
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
- (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
- (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
- (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
- (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
- (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
- (f) References (optional) — Link(s) to post-mortem/advisory/PR.
(a) Date & component affected
No exploits affecting tokenholders or protocol funds have occurred as of 17 June 2026.
(b) Exploit vector summary
N/A
(c) Quantified impact
N/A
(d) Remediation/response taken
N/A
(e) Current status
N/A
(f) References (optional)
N/A
[Optional] Offchain Foundation Or DevCo Income Statement
Provide a single income statement, expense summary, or comparable operating statement for the primary Foundation or Developer Company. A consolidated or entity-level presentation is acceptable. Balance Sheet and Statement of Cash Flows may be included but are not required. This item is intended to provide transparency into offchain operating resources and expenditures only.
Line Item | Amount |
|---|---|
Gross Profit | $17M |
Total Operating Expenses | $10M |
Net Profit | $7M |
Blockworks note: This above Profit & Loss Statement is approximate, not yet finalized and is subject to revision. |
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. WalletConnect Token is solely responsible for the content, accuracy, and legality of its disclosures.