WalletConnect Launches Token on Solana As Multichain Expansion Grows

WalletConnect has taken its token to the Solana (SOL) blockchain, starting with the distribution of five million units of WCT. These tokens will be airdropped to the blockchain’s active users in the coming weeks. The decision to leverage Solana underscores the blockchain’s Stellar reputation amongst its counterparts. 

WalletConnect Token Started From Optimism’s OP Mainnet 

The launch on Solana marks the third chain WalletConnect has been utilizing since Optimism’s OP Mainnet and Ethereum. It is worth noting that the WCT token first went live on Optimism’s OP Mainnet before heading to Ethereum about a month ago. The current Solana expansion is leveraging Wormhole’s native token transfers (NTT) framework. 

This will explicitly allow WCT to move natively and not as a wrapped token across the OP Mainnet, Ethereum, and Solana.

WalletConnect Continues to Airdrop From its 185 Million WCT Bag

Notably, the 5 million WCT airdrop, designed to support the launch, will go to only active Solana users. 

The distribution exercise will involve partners like Phantom, Jupiter, Backpack, and Solflare. According to WalletConnect founder and director Pedro Gomes, the tokens are a scoop from the 185 million WCT that the foundation earmarked for airdrops last September.

The total token airdrop is an initiative to reward the platform’s loyal user base and incentivize future network participation. A user’s engagement with the WalletConnect network is a crucial determinant of the volume of their airdrop.

This is the second major WCT airdrop from the ecosystem so far. The first season was in November 2024, and members of the WalletConnect community received 50 million tokens then.

Moving From Solana to Ethereum and Vice Versa 

It is not new that projects seek expansion across blockchains, although most do so because they are dissatisfied. In recent times, crypto experts have been discussing the possibility for Solana to outpace Ethereum. Their comparison is usually based on speed, innovation, and market momentum. 

While Ethereum still powers the backbone of smart contracts, Solana’s edge in performance has analysts buzzing. 

The Solana blockchain prides itself on offering ultra-fast transactions at an inexpensive rate, which has attracted several projects to the network. Its performance has consistently put it on the lips of developers attempting to build their projects. In December 2024, Solana’s network reports helped it hijack the position of “best DeFi development network for new devs” from Ethereum.