Published in: Blog

Get eligible for the WalletConnect Airdrop with KEYRING PRO Wallet

Author Duy

Published on: October 11, 2024

WalletConnect is considered the most widely-used wallet connection service today. The WalletConnect team has expanded its ecosystem with the WalletConnect Network and introduced its native token, WalletConnect Token (WCT).

WalletConnect has announced an airdrop of WCT as a token of appreciation for its users. Let’s explore how you can become eligible for the WalletConnect Airdrop.

Table of Contents

WalletConnect Airdrop

Register with the KEYRING PRO Wallet

The registration process is straightforward. First, you need an Ethereum wallet address. The KEYRING PRO Wallet can quickly help you create an ETH wallet.

Download the KEYRING PRO Wallet.
Create or import a wallet.
Select the Ethereum network.

After you’ve set up your ETH wallet on the KEYRING PRO Wallet, let’s proceed to register for the WalletConnect Airdrop.

Visit the WalletConnect Airdrop page.
Find the Registration section, agree to the terms, and click “Register here”.
Click “Connect now”.
Select “WalletConnect” to scan the QR code.
Open the KEYRING PRO Wallet and tap the WalletConnect icon in the middle of the toolbar.
Scan the QR code and select “sign”.
The KEYRING PRO Wallet will ask you to agree to connect the wallet to the website.
You’re registered once the KEYRING PRO Wallet successfully connects to the website.

You can also enter your email to receive notifications about the airdrop and connect additional wallets and GitHub to expand your potential eligibility for the airdrop.

Eligibilities Criteria

There are two categories of eligibility criteria for the airdrop:

Activity as a User – Your activity within the Network, such as connections, signatures, and on-chain actions, will be evaluated. Both recent and overall past activities on the WalletConnect Network influence eligibility. This is assessed from the wallet addresses linked to the user’s profile.
Activity as a Contributor – Your previous contributions to the WalletConnect Network, including projects like CAIPs, EIPs, Ethereum SDKs, non-EVM SDKs, and other open-source projects that enhance the on-chain ecosystem, are considered. This eligibility is assessed from GitHub accounts linked to the user’s profile.

You can qualify as both a user and a contributor under the same profile.

To ensure significant contributions, season 1’s airdrop eligibility criteria are based on activities from the network’s inception until September 12, 2024. Activities after this date are not considered. Different criteria and timeframes may apply to future airdrop seasons.

Meeting specific criteria at certain thresholds determines eligibility. However, meeting a criterion does not guarantee eligibility. Various distribution models may be used to ensure fair allocation. Profiles meeting more criteria or demonstrating higher engagement may receive a larger share.

This information pertains to season 1 of the WCT airdrop. Not meeting the criteria for season 1 does not exclude you from future eligibility.

Token Allocation for Season 1

There are 50,000,000 WCT tokens allocated for season 1 out of a total of 185,000,000 tokens for all WCT airdrops.

User Category: 80% of the pool (4% of the total token allocation)
Contributor Category: 20% of the pool (1% of the total token allocation)

Airdrop register period

To check your eligibility for season 1 of the WCT airdrop, you need to register. Registrations are open from September 24, 2024, to October 18, 2024.

The WalletConnect Foundation will announce on the Walletconnect Website and through social and email channels when registrants can check back in November 2024 to verify their eligibility for the WCT airdrop. You can add your email to your profile during registration to receive a notification when this information is released.

Registration is required to be eligible for the airdrop.

There will be more seasons in the future. If you are not eligible this time or you missed it, you may be eligible for future seasons. Follow our socials and subscribe to emails to get notified about future seasons.

When can I claim WCT?

The registration period for season 1 of the WCT airdrop ends on October 18, 2024. You will be able to verify your eligibility in November when details on how and when to claim will be shared.

If tokens are unclaimed within the claims period for season 1 of the WCT airdrop, those tokens may be added to allocations for future airdrop seasons.

What is WalletConnect Token (WCT)?

The WalletConnect Token (WCT) is the native token of the WalletConnect Network.

The four primary utilities of WCT are:

Fees: Used to pay for network services like relay usage.*
Rewards: Tokens are distributed as incentives to maintain network security and efficiency.
Staking: WCT holders can stake tokens to receive rewards.
Governance: WCT holders can vote on proposals and updates, giving the community control over the network’s development through decentralized governance.*

*Governance and fee features will be enabled after approval by WCT token holders.

WCT tokens will be non-transferable at first. Why?

There are several reasons:

Network Functionality: WCT is designed to support and enable network operations. By limiting transferability initially, the tokens stay within the ecosystem to fulfill their intended role.
Long-Term Focus: Restricting transferability allows the focus to be on the long-term development and stability of the WalletConnect Network. This period helps thoroughly test all token functionalities, including staking, governance, and other mechanisms before enabling transfers.
Ecosystem Development: The non-transferability phase helps establish and grow the WalletConnect ecosystem, enabling participants to engage with the Network’s core functionalities.
Infrastructure Protection: As a crucial piece of web3 infrastructure, the WalletConnect Network must remain stable and secure. This period mitigates potential risks related to premature token transferability.

The WalletConnect Foundation will lead community discussions about enabling WCT token transferability, determined through proposals and voting by WCT token holders.

The transition to full transferability will be carefully managed and based on specific, community-agreed milestones indicating the Network’s readiness.

Why should you use KEYRING PRO Wallet to register for the WalletConnect Airdrop?

While you can use any supported wallet to participate in the Airdrop, the KEYRING PRO Wallet offers significant advantages for its users.

Integration with WalletConnect: KEYRING PRO Wallet has integrated WalletConnect within the app, allowing users to connect to web3 seamlessly through this method. This makes KEYRING PRO Wallet users highly likely to be active WalletConnect users, greatly increasing their eligibility.
Extensive Ecosystem: KEYRING offers a vast and interconnected ecosystem. Many other KEYRING products require users to connect their KEYRING PRO Wallet, meaning users are already using WalletConnect.
Ease of Use: The KEYRING PRO Wallet allows users to quickly and easily create wallets on various chains. This makes the KEYRING PRO Wallet confident in handling any airdrop participation.

KEYRING PRO Wallet will be your all-in-one web3 wallet.

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