https://lh7-rt.googleusercontent.com/docsz/AD_4nXeiwtS0Uh1RzgtWwqbQAw2Jo-FVKyPLhfjpX8p9tT07Eb6-Nxy4muhaZMlhJnIeBxJ-pfKOr56RpMjkQE80IZm3q_H4Xz9S9gfmErqPDG2zJEXPrsHstnwegU3B2m6QH5WpU0DZj6sCxEQAqtDDuTE?key=E1RywjtalWQCXUgP9Ni9bWV5

LAST UPDATE 4 February 2025

Compliance Statements

  1. This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union.
  2. This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 and, to the best of the knowledge and belief of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
  3. The crypto-asset referred to in this white paper may lose its value in part or in full, may not always be transferable and may not be liquid.
  4. The utility token referred to in this white paper may not be exchangeable against the good or service promised in the crypto-asset white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
  5. The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council.

The crypto-asset referred to in this white paper is not covered by the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.

Summary

Warning

This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto-asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law.

This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council (36) or any other offer document pursuant to European Union or national law.

Characteristics of the crypto-asset

The WCT token powers the onchain UX ecosystem, acting as both a reward and governance mechanism within the ecosystem. The WCT token has four primary functions within the WalletConnect Network: Fees, Rewards, Staking, and Governance. WCT holders can vote on proposals and changes, giving the community control over the Network’s development through decentralized governance. Participants can stake WCT tokens to earn rewards and participate in governance. At launch, the WCT token is non-transferable for all holders. This non-transferability period mitigates potential risks associated with premature token liquidity. It is expected that the WalletConnect Foundation will facilitate the token holder community to propose and vote on when transferability will be enabled. Initially, applications and SDKs will not be charged fees by the Network for using the relay services. However, when the ecosystem reaches an appropriate stage of maturity, the introduction of fees could be proposed by the community. WCT tokens are distributed as rewards to incentivize participation and contribute to Network security and efficiency.

Key information about the offer to the public or admission to trading

The WalletConnect Token (WCT or the Token) is being offered to the public, namely the WalletConnect community, through a Community Round facilitated by several platforms.

The first purchase request period for the public offer is scheduled to begin in February 2025. Participants can request to purchase WCT tokens using USDT or USDC (or as accepted by the platform on which the Token is offered), with a minimum purchase amount of $100 and a maximum purchase limit of $10,000 per participant. No discounted purchase prices for early purchasers have been specified in this offering. Note that the actual number of Tokens offered for sale and transfer of the tokens to the purchaser is not completed until both completion of the “Fill from the Bottom” calculations based on total purchaser requests and transferability is enabled for the Token. Please read more in the materials about transferability. Please see this link for more information about “Filling Up from the Bottom”.