Upbit WCT Circulation Plan Shift: Strategic 8.2M Token Supply Increase Alters WalletConnect Trajectory

South Korea’s leading cryptocurrency exchange Upbit has announced a pivotal revision to the circulation schedule for WalletConnect (WCT), increasing the planned token supply for the first quarter by over 8.2 million WCT.

WCT Circulation Plan: Quantitative Shift

The exchange executed this change at the explicit request of the WalletConnect project team. A review of the updated data reveals a clear shift in the token emission trajectory. Initially, the total circulating supply planned for Q1 2025 stood at 351,144,932 WCT. Following the revision, this figure now reaches 359,328,670 WCT.

Period	Original Supply (WCT)	Revised Supply (WCT)	Net Change
Q1 2025	351,144,932	359,328,670	+8,183,738
Q2 2025	Data Not Specified	405,955,682	N/A

Infrastructure Role and Governance

WalletConnect is an open-source protocol that enables secure connections between decentralized wallets and dApps across different blockchains. The WCT token governs this protocol through a decentralized autonomous organization (DAO), meaning changes to supply affect governance power distribution and protocol security.

Strategic Rationale for Supply Adjustments

Ecosystem Growth: Funding development grants or partnership incentives.
Liquidity Provision: Ensuring sufficient market depth for institutional users.
Governance Expansion: Distributing tokens to active protocol participants.
Treasury Management: Aligning financial runway with updated operational goals.

“A static tokenomics model often fails to meet a project’s real-world needs. The ability to strategically adjust emission schedules demonstrates agile governance. The critical factors are transparency and clear rationale.” — Blockchain Economist, Seoul Fintech Lab.