What Is Reown?
Reown (reown.com), formerly known as WalletConnect Inc., is an onchain user experience (UX) platform dedicated to providing builders with the tools to create seamless, intuitive, and secure digital ownership experiences. Since its inception in 2018, WalletConnect grew from a simple QR code to a thriving network and product suite serving over 40,000 app projects, 600+ wallets, and 23+ million users. In 2023, WalletConnect officially rebranded to Reown, marking a new era of innovation aimed at improving web3 accessibility and usability.
Reown offers two key toolkits, AppKit and WalletKit, which empower developers to integrate web3-native features into their applications. AppKit enables smooth onchain app-to-wallet interactions, allowing users to log in, sign messages, and interact with smart contracts. WalletKit enhances the security and ease of use for wallets connecting to apps, offering features like Web3 Notifications, App Verification, and One-Click Authentication. Together, these tools aim to drastically improve the user experience in the decentralized internet, bridging the gap between blockchain technology and everyday digital ownership.
Wallet Connect's Tokenomics
The WCT token is a crucial component in the WalletConnect ecosystem, designed to support platform sustainability, growth, and community engagement.
With an initial supply of 1 billion tokens, WCT facilitates multiple use cases across the network, including transaction fees, staking rewards, governance, and community incentives. This broad utility empowers WCT holders to actively participate in the network's future while receiving rewards.
Token Allocation
- Core Development: 7% of the token supply is allocated to core development efforts, funding essential updates, security enhancements, and overall platform improvement.
- Staking Rewards: 17.5% of the tokens are reserved for staking rewards, incentivizing users to actively participate in securing and supporting the network through staking.
- Community Airdrops: 18.5% will be distributed to the community via airdrops, encouraging user engagement and ensuring widespread token distribution among network participants.
- Network Team: 18.5% is designated for the network team, supporting the individuals responsible for maintaining, developing, and expanding the WalletConnect ecosystem.
- Backers: 11.5% is allocated to early backers, rewarding those who have supported WalletConnect’s growth and development from the outset.
- WalletConnect Foundation: 27% of the total supply is allocated to the WalletConnect Foundation, the largest allocation, providing long-term support for the platform’s ecosystem initiatives and expansion efforts.
Through strategic allocation and multi-functional use cases, WCT is set to drive WalletConnect’s growth, enhancing user involvement and ensuring ongoing development for a sustainable ecosystem.
Reown Price Analysis
Monitoring the price and market behavior of Reown-related tokens is essential for developers, builders, and users looking to capitalize on the platform’s growth. Regular price analysis provides insights into market dynamics and potential investment opportunities within the Reown ecosystem.
For more info regarding its fundraising and price, you can refer to the article "Price Analysis and Valuation of Reown."
Reown Airdrop
The Reown Airdrop offers an exciting opportunity for early adopters to earn rewards by engaging with the platform and utilizing its powerful AppKit and WalletKit toolkits.
For more info on the airdrop, you can refer to the article "Reown Airdrop Guide."