The post WalletConnect Launches 50 Million WCT Token Airdrop Amid Eligibility Concerns and Community Feedback appeared on BitcoinEthereumNews.com.

WalletConnect has made waves in the crypto community with its inaugural token airdrop, distributing a total of 50 million WCT tokens to users and contributors. Eligible users can stake their non-transferable tokens, offering them both rewards and governance options that enhance user involvement. Concerns regarding the selection criteria have emerged, with calls from some users for WalletConnect to reconsider its airdrop distribution process. WalletConnect’s first token airdrop sees 50 million WCT distributed to eligible users, provoking mixed community reactions and calls for clarity on selection criteria. Eligibility and Distribution Details of WalletConnect’s Airdrop The launch of WalletConnect’s first-ever token airdrop marks a significant milestone for the protocol, with 50 million WalletConnect Tokens (WCT) allocated specifically for over 160,000 eligible users. This initiative allows users to confirm their eligibility and claim their share of the airdrop. Of the total allocation, 30 million tokens are earmarked for users who registered and engaged meaningfully with the service during a specific timeframe, while the remaining 20 million tokens are designated for essential contributors to the WalletConnect ecosystem, including early developers and community participants. “Eligibility is now live! Check if you qualify, claim your WCT, and start staking your tokens,” WalletConnect announced, highlighting user engagement as a key component of their criteria. To secure eligibility, users needed to create a profile, link a wallet through WalletConnect, and actively use the network prior to a designated cutoff date. A scoring system was implemented based on users’ on-chain activities and contributions to ensure fair distribution practices. In an effort to lessen the financial impact on users, WalletConnect also subsidized gas fees during the claiming process, providing ETH on Optimism as incentives to those eligible. Community Reactions: A Mixed Bag of Excitement and Concern The announcement of the airdrop has elicited strong reactions from the cryptocurrency community. Many…

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Filed under: News - @ November 27, 2024 10:20 am