WalletConnect Airdrop Rewards Early Users; Criticism Follows
WalletConnect officially launches its first token airdrop. First quarter airdrop distributes 50 million WalletConnect tokens (WCT) to over 160,000 eligible users.
Recipients can spend their tokens on governance and receive rewards. It marks a major milestone for the open-source protocol widely used to connect crypto wallets to decentralized applications (dApps).
Eligibility and Allocation Details
along with Qualification Examiner After the airdrop goes online, users can confirm their participation. Of the 50 million tokens allocated in this round, 30 million are reserved for users who register during the designated period and meet certain participation criteria. The remaining 20 million tokens are reserved for top contributors WalletConnect Ecosysteminclude node Operator and early GitHub participant.
“Eligibility is now live! Check if you qualify, claim your WCT, and start staking your tokens” WalletConnect explain.
Eligibility requires users to create a profile, connect wallet via WalletConnect and actively engaged with the network before last month’s deadline. WalletConnect also employs a scoring system based on users’ past network usage, on-chain activity and contributions to ensure fair distribution.
To further incentivize participation, WalletConnect offers subsidies gas costreducing the economic burden on users when network costs change.
“To help cover gas fees during the claims process, WalletConnect is offering ETH on Optimism to eligible profiles via contract addresses,” the announcement read.
At the same time, while distributed tokens are initially non-transferable, recipients can stake them for governance purposes. pledge Periods range from one week to two years, and awards will begin on December 19. This mechanism encourages long-term participation in the ecosystem and enables users to influence the development of WalletConnect through governance proposals.
as a protocolWalletConnect aims to simplify the interaction between crypto wallets and dApps. It also allows for seamless connections via QR codes or deep links.
Airdrop farmers Stay optimistic about free tokens. The announcement sparked excitement among some community members, especially WalletConnect’s efforts to streamline the claims process at no additional cost.
“Very impressive! Some people asked us to pay for the airdrop,” one user famous.
However, some have criticized the program for having eligibility issues. Specifically, some long-time users questioned the fairness of the selection criteria, with one user expressing frustration.
“Will WalletConnect accept appeals? I have been using WalletConnect since 2020 but why are not all wallets eligible? I still remember to log in through Trust Wallet. Why are all new wallets eligible?” they explain.
Another user had a similar sentiment, noting that their airdrop wallet’s mnemonic phrase was created using Trust Wallet in 2020. They have also used Trust Wallet for nearly two years but are still not eligible.
“The mnemonic phrase for my airdrop wallet was created using Trust Wallet in 2020. Since I didn’t have a computer at the time, I have been using Trust Wallet for almost two years. The only option to connect Dapps to the wallet is through WalletConnect,” the user Lamented.
To add insult to injury, some participants said they initially received subsidies for gas costs during the eligibility period. However, they are now considered ineligible. These inconsistencies leave users confused about the evaluation process and how to verify their assignments.
WalletConnect has not yet processed the appeal or provided clarification Whether the eligibility criteria will be re-evaluated in future airdrop seasons. The project’s approach reflects the wider challenges cryptocurrency space. Sure Eligibility for incentive programs often sparks debate about fairness and transparency.
Still, there may be opportunities for WalletConnect to improve its distribution process. This is taking into account the total 185 million tokens Designated for the future airdrop The maximum supply is 1 billion WCT tokens. Responding to community feedback can also strengthen its relationship with its user base and reinforce its commitment to inclusivity.
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