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WCT jumped 11% following news that Jupiter stakers will be eligible for a token claim tied to WalletConnect’s Solana expansion.

WalletConnect Token (WCT) jumped on Thursday as buzz spread about an upcoming airdrop tied to Solana (SOL), and some Jupiter stakers are now on the list. Following the news, the price of WCT rose 11.6% and is trading at $1.06, according to data from CoinGecko. The token has gained 276.8% over the past month, rising from $0.2814 on April 15.

The price rally followed growing anticipation around WCT’s expansion to Solana. At the Solana Accelerate event, WalletConnect Foundation founder Pedro Gomes said the token would go live on the network later this month via Wormhole’s Native Token Transfers standard.

Airdrop details haven’t been finalized yet, but the WalletConnect Foundation has confirmed that a 5 million WCT claim will be available for Solana users, with Jupiter, Phantom, Backpack, and Solflare helping identify eligible users and distribute tokens.

“The goal is to identify real users, those already building, staking, and transacting on Solana. […] This follows the success of the 2024 token claim, which saw 50 million WCT distributed to early contributors across the WalletConnect ecosystem, previously in the Optimism and Ethereum ecosystems.”

WalletConnect Foundation

Despite the announcement, eligibility details and claim timelines are expected to be announced soon. With the launch on Solana, WCT becomes a multichain token after its earlier deployments on Ethereum and Optimism.

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In brief

WalletConnect’s WCT token is launching on Solana.
The integration will be accompanied by an airdrop of 5 million WCT tokens to active Solana users.
Further chain integrations are “already in development,” WalletConnect told Decrypt.

WalletConnect Token (WCT) is launching on Solana, with 5 million WCT set to be airdropped to the blockchain’s active users.

The launch of WCT as a multichain token aims to open WalletConnect to new users and liquidity, and applications throughout the Solana ecosystem.

The WCT token powers staking and governance across WalletConnect’s network, and will be used for fees and rewards in the future. Current estimates suggest about 145,000 hold WCT—a figure that’s expected to rise given it’s now expanding to a blockchain with more than 100 million monthly active wallets.

In a statement shared with Decrypt, WalletConnect Foundation founder and director Pedro Gomes said the platform has made a concerted shift to becoming a “chain-agnostic protocol” in recent years, following its “very Ethereum-centric” beginnings.

“It makes sense that WCT, the native token, is also a multichain token,” Gomes added. “WalletConnect has been working closely with Solana teams over the past couple of months and I have been continuously impressed by the builders, the community and the energy of the Solana ecosystem.”

Wormhole Foundation’s CCO and co-founder Robinson Burkey said that WCT’s expansion “is a clear signal builders and users want fluid, secure movement of value across ecosystems.”

“A multichain journey”

Further chain integrations are “already in development” as WalletConnect builds out its roadmap—and as its native token becomes more widely available, new governance features and token-based incentives will be unveiled to give the community a greater role in its future.

This latest airdrop also comes hot on the heels of 50 million WCT being distributed to WalletConnect users last year.

Several prominent Solana apps already rely on WalletConnect’s infrastructure—including lending platform Save, perpetual futures exchange Drift, and DeFi protocol Kamino Finance.

Figures from the protocol suggest that, since launching in 2018, it has facilitated more than 278 million connections along with 45 million unique active wallets.

In a statement shared with Decrypt, WalletConnect said that its arrival on Solana “marks the beginning of a multichain journey” that will build on its track record of enabling “secure and seamless connections” between apps and wallets.

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