Binance, the top crypto exchange, has recently announced the release of an open-source WalletConnect ($WCT) on the Launchpool platform thereof. As per Binance, it is launching WalletConnect through Launchpool as the 67th project to let consumers farm $WCT tokens. The platform disclosed this development in an official press release.
Binance Unveils WalletConnect ($WCT) to Let Users Farm Tokens from April 11 Onward
Binance is going to launch WalletConnect to enable the farming of $WCT tokens from April 11 onward. WalletConnect operates as a open-source protocol focusing on creating a secure connection between consumers and decentralized applications. It enhances consumer experience within the decentralized sector by securely linking wallets with dApps while ensuring interoperability. Now with listing on Launchpool, the crypto exchange furthers the expansion of its offerings with favorable blockchain projects.
To take part in the project, the consumers need to lock their holdings in $USDC, $FDUSD, or $BNB in devoted pools. As a result of this, they can get rewards in $WCT tokens. The respective farming campaign will move on for 4 days to end on the 14th of April. The cumulative $WCT tokens specified for the respective projects are 40,000,000, denoting four percent of the cumulative token supply.
40,000,000 $WCT to Be Distributed Across $USDC, $FDUSD, and $BNB Pools
The platform will distribute the allocated 40,000,000 $WCT tokens across the pools of $USDC, $FDUSD, and $BNB for rewards. Specifically, the $USDC pool will comprise 4,000,000 $WCT tokens, accounting for 10% of the supply. Additionally, $FDUSD pool will present 2,000,000 $WCT tokens, signifying 5% of the total token supply. However, the $BNB pool will contain the biggest token amount of 34,000,000 $WCT tokens, equaling 85% of the supply. Overall, the cumulative amount of the daily rewards will be $WCT tokens and will be proportionally disseminated to the stakers.
According to Binance, it will carry out the $WCT token’s listing on the 15th of this month. The trading pairs will include $SCT/$TRY, $WCT/$FDUSD, $WCT/$BNB, $WCT/$USDC, and $WCT/$USDT. The $WCT token’s starting circulating supply will be 186.2M tokens at launch. This amount reportedly stands for 18.62% of the cumulative 1B token supply.
