Basic Information of WalletConnect

WalletConnect is an open protocol designed for secure communication between wallets and DApps (Web3 applications). The protocol uses a bridge server to establish a remote connection between two applications and/or devices to relay payloads. These payloads are symmetrically encrypted using a shared key between the two peers. The connection is initiated by a peer displaying a QR code or a deep link with a standard WalletConnect URI and is established when the other party approves the connection request. It also includes an optional push server to allow native applications to notify users of incoming payloads to establish a connection.

Tags: Infrastructure, Wallet

Team Information of WalletConnect

Funding Situation of WalletConnect

• On March 8, 2022, WalletConnect completed an $11 million Series A round led by Union Square Ventures and 1kx, with participation from CB, Semantic Ventures, and others.

• On November 3, 2022, it secured an additional $12.5 million with participation from Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, and Union Square.

• On January 15, 2025, WalletConnect closed a $13 million Series B round led by Union Square Ventures and 1kx, with participation from Shopify Ventures, Kraken Ventures, Crypto.com Capital, BitGo Ventures, and others.

Token Economics of WalletConnect

The initial supply cap of the WalletConnect Token (WCT) is set at 1 billion, allocated as follows:

• WalletConnect Foundation: 27%

• Airdrop: 18.5%

• Team: 18.5%

• Rewards: 17.5%

• Previous Supporters: 11.5%

• Core Development: 7%

Tokens allocated to core development, the team, and previous supporters will be subject to a 4-year vesting period, including a 1-year cliff from the Token Generation Event (TGE).

Features of WalletConnect

WalletConnect was initially proposed by Richard Burton in 2018 and is now supported by a wide range of mobile wallets:

• Decentralized: WalletConnect does not rely on any centralized servers, ensuring all communications are end-to-end encrypted to safeguard user security.

• Compatibility: WalletConnect can interact with various types of mobile wallets and Web3 DApps, such as MetaMask, Trust Wallet, MyEtherWallet, etc. It supports over 600 wallets and 40,000 DApps, offering seamless interoperability.

• Efficiency: WalletConnect's communication protocol is highly efficient, enabling fast and reliable connections over mobile networks. Users can connect via mobile devices or desktops without needing browser extensions.

• Openness: WalletConnect is an open protocol that anyone can use to build their own applications and expand its functionality.

How to Use WalletConnect?

WalletConnect enables developers to offer users more flexible connection options to access decentralized applications (DApps). By supporting multiple wallets and achieving seamless, secure connections, WalletConnect enhances user experience. For users who use multiple wallets and wish to explore DApps before connecting their primary wallet, WalletConnect is an excellent choice.

Basic Information of WalletConnect

WalletConnect is an open protocol designed for secure communication between wallets and DApps (Web3 applications). The protocol uses a bridge server to establish a remote connection between two applications and/or devices to relay payloads. These payloads are symmetrically encrypted using a shared key between the two peers. The connection is initiated by a peer displaying a QR code or a deep link with a standard WalletConnect URI and is established when the other party approves the connection request. It also includes an optional push server to allow native applications to notify users of incoming payloads to establish a connection.

Tags: Infrastructure, Wallet

Team Information of WalletConnect

Funding Situation of WalletConnect

• On March 8, 2022, WalletConnect completed an $11 million Series A round led by Union Square Ventures and 1kx, with participation from CB, Semantic Ventures, and others.

• On November 3, 2022, it secured an additional $12.5 million with participation from Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, and Union Square.

• On January 15, 2025, WalletConnect closed a $13 million Series B round led by Union Square Ventures and 1kx, with participation from Shopify Ventures, Kraken Ventures, Crypto.com Capital, BitGo Ventures, and others.

Token Economics of WalletConnect

The initial supply cap of the WalletConnect Token (WCT) is set at 1 billion, allocated as follows:

• WalletConnect Foundation: 27%

• Airdrop: 18.5%

• Team: 18.5%

• Rewards: 17.5%

• Previous Supporters: 11.5%

• Core Development: 7%

Tokens allocated to core development, the team, and previous supporters will be subject to a 4-year vesting period, including a 1-year cliff from the Token Generation Event (TGE).

Features of WalletConnect

WalletConnect was initially proposed by Richard Burton in 2018 and is now supported by a wide range of mobile wallets:

• Decentralized: WalletConnect does not rely on any centralized servers, ensuring all communications are end-to-end encrypted to safeguard user security.

• Compatibility: WalletConnect can interact with various types of mobile wallets and Web3 DApps, such as MetaMask, Trust Wallet, MyEtherWallet, etc. It supports over 600 wallets and 40,000 DApps, offering seamless interoperability.

• Efficiency: WalletConnect's communication protocol is highly efficient, enabling fast and reliable connections over mobile networks. Users can connect via mobile devices or desktops without needing browser extensions.

• Openness: WalletConnect is an open protocol that anyone can use to build their own applications and expand its functionality.

How to Use WalletConnect?

WalletConnect enables developers to offer users more flexible connection options to access decentralized applications (DApps). By supporting multiple wallets and achieving seamless, secure connections, WalletConnect enhances user experience. For users who use multiple wallets and wish to explore DApps before connecting their primary wallet, WalletConnect is an excellent choice.