WalletConnect Expands to Solana: 5M WCT Airdrop 💸

WalletConnect, a protocol that connects crypto wallets to applications, has introduced its WCT token on Solana – its third chain following Optimism's OP Mainnet and Ethereum. This launch coincides with a 5 million token airdrop for active Solana users. By utilizing Wormhole's native token transfers (NTT), WCT can move seamlessly across Solana, Ethereum, and Optimism without being wrapped. The foundation plans to distribute this airdrop through partners like Phantom, Jupiter, Backpack, and Solflare, marking the second major airdrop after the initial 50 million tokens last November. WCT, valued around $0.60, translates to a $3 million airdrop.Eligible Solana users can claim their tokens this summer, with detailed instructions coming soon. The launch on Solana offers faster, cheaper transactions and improves WalletConnect's usability. Though WCT staking and governance are initially limited to the OP Mainnet, they are expected on Solana soon. WalletConnect's move to Ethereum and Solana keeps the total WCT supply stable using Wormhole's "burn-and-mint" approach. The foundation eyes further expansion, focusing on ecosystems with robust onchain content and user experience. Note: The Block remains an independent news source despite Foresight Ventures' investment.