WalletConnect is a technology that allows secure connection of mobile crypto wallets to various applications and decentralized platforms using a QR code.
TLDR
Sale price - $0.2 (FDV - $200M)
Premarket price - $0.7 (FDV - $700M)
Sale date: February 4, 20:00 MSK to February 11, 20:00 MSK.
$37.75M in investments from Tier1 funds, closed a $13M round on January 14, 2025.
Raising $4M.
Last year, they rebranded to Reown.
In November 2024, they distributed a drop (tokens cannot be transferred yet, only staked and used for voting).
100% unlock at TGE, but this may change through voting.
TGE date is unknown.
Russia is not banned.
Sale link: https://coinlist.co/walletconnect
About the Project
WalletConnect is a technology that allows secure connection of mobile crypto wallets to various applications and decentralized platforms using a QR code.
Since 2022, the project has raised $37.75M in 4 funding rounds, with participation from funds like 1kx, Coinbase, Hashkey, Circle, ConsenSys, and others.
Their Twitter followers are top-tier: Solana, Polygon, Optimism, Phantom, and representatives from a16z, Binance, Paradigm, etc.
In October 2024, the project rebranded to Reown.
In November 2024, the project distributed a drop (claim is now closed) of 50M WCT (5% of the total supply). Tokens claimed by users can currently only be staked and used for voting.
Team
Pedro Gomes – Founder (Portugal). Previously, he led Reown (formerly WalletConnect Inc.) and founded WalletConnect Labs. His career began as a frontend developer at the UK fintech startup Loot Financial Services, after which he worked at Balance.io, where he developed the WalletConnect standard.
Jess Houlgrave – CEO (Portugal). Previously held leadership positions at Checkout.com, where she developed strategies for bringing crypto products to market. She also founded shEOS, a project to educate women in the blockchain industry, and was a co-founder of Codex Protocol, a platform for registering collectibles on Ethereum. Her career began in investment banking at Credit Suisse, after which she managed an investment portfolio at OPTrust.
Steven Dolcemaschio – CMO (USA). Previously, he led marketing at Ledger, promoting the brand in the hardware crypto wallet space, including partnerships with Fendi. Earlier, he was responsible for global branding and content marketing at Dashlane, and before that, he worked at R/GA, a leading digital marketing and branding agency.
Tokenomics
Total supply - 1B WCT. Information on vesting categories and initial supply is unknown.
WalletConnect Foundation: 27%
Airdrop: 18.5% (5% already distributed)
Team: 18.5%
Rewards: 17.5% (for staking, etc.)
Early investors: 11.5%
Developers: 7%
Token Utilities:
Payment: Used to pay for network services. Initially, this function will not be available, but the community may introduce fees in the future.
Rewards: For node operators and contributors.
Staking.
Governance.
Sale Mechanics and Details
Sale Mechanics:
Filling Up From the Bottom – Distribution of tokens among participants by calculating a base amount (total pool/number of participants), where participants requesting less than the base amount receive their full request, and the remaining funds are evenly distributed among the remaining participants.
Example:
For example, a sale with a total allocation of $10,000. Six users participated:
User 1 requested $1,200
User 2 requested $2,600
User 3 requested $3,500
User 4 requested $700
User 5 requested $5,000
User 6 requested $900
With 6 users and a total sale of $10,000, each participant could receive a maximum of $1,666.67 in tokens. Accordingly, all users whose requests were equal to or below this amount receive their full requested allocation.
As a result, $2,800 was distributed, and the remaining $7,200 is available for 3 participants, $2,400 each. All remaining users requested amounts exceeding $2,400, so this amount becomes the maximum for all remaining participants.
Users 2, 3, and 5 receive $2,400 in tokens each.
Sale Details:
Sale period: February 4, 20:00 MSK to February 11, 20:00 MSK.
Price - $0.2. FDV: $200M
Sale allocation: 20M WCT (2% of total supply)
Personal allocation: $100 - $10K
TGE date is unknown
Unlock conditions: 100% unlock at TGE, but this may change through voting.
Sale participation link: https://coinlist.co/walletconnect
Conclusion
The sale looks interesting, and the valuation is reasonable. However, questions remain regarding vesting categories and the TGE date. In any case, the project could deliver 2-3X at launch—it has been on the market for a long time, has strong connections, and is unlikely to drop below the sale price. However, securing the full $10K allocation is unlikely—with such a valuation, $4M will be raised very quickly, and oversubscription is expected.
This is not financial advice. Make your own investment decisions.
