WalletConnect Goes Multi-Chain: $5M WCT Tokens Rain on Solana’s Phantom & Backpack Users

WalletConnect—the protocol that bridges wallets and dApps—just planted its flag on Solana. And they’re not arriving empty-handed.

Airdrop alert: Phantom and Backpack users get first dibs on $5 million worth of WCT tokens. Because nothing sparks adoption like free money—even in a bear market.

This isn’t just cross-chain—it’s a strategic power play. Solana’s speed meets WalletConnect’s ubiquity, creating a frictionless on-ramp for millions. TradFi banks would call this ’customer acquisition cost.’ Crypto calls it progress.

One cynical footnote: Watch how fast ’airdrop farmers’ turn into ’loyal ecosystem participants’ when the tokens hit their wallets.

TLDR

• WalletConnect launches on Solana
• Five million WCT tokens for an airdrop
• Seamless token transfers enabled
• Solana trading activity surges
• Top Solana apps adopt WCT

WalletConnect has launched its native WCT token on Solana, following previous integrations with ethereum and Optimism. The expansion introduces a $5 million airdrop campaign targeted at active Solana users through key partners. This move strengthens WalletConnect’s multichain support and aims to improve user experience on Solana-based applications.

$WCT Launch Boosts WalletConnect’s Multichain Utility

WalletConnect deployed WCT on Solana using Wormhole’s Native Token Transfers (NTT) to ensure seamless cross-chain compatibility. This allows users to move WCT tokens natively between Solana, Ethereum, and Optimism without wrapping. The system maintains a fixed total supply by burning tokens on the origin chain before minting on the destination.

Reown, the team behind WalletConnect, confirmed that solana users can expect reduced transaction fees and faster processing times. These benefits aim to support a broader range of decentralized applications integrated with the WalletConnect protocol. Additionally, the token is expected to enhance utility through governance and staking on supported chains.

Solana applications such as Drift, Marinade, Kamino, and Backpack have already integrated WalletConnect via Reown’s AppKit. This development enables them to support WCT, unlocking trading and other token functionalities natively. WalletConnect plans to expand further into ecosystems aligned with its focus on user experience and onchain engagement.

Airdrop Targets Phantom, Backpack, Solflare, and Jupiter Communities

To support the launch, WalletConnect will airdrop 5 million WCT tokens to users on Solana. The airdrop will be distributed through partnerships with Phantom, Backpack, Jupiter, and Solflare wallets.

$WCT is coming to Solana!

Powered by @wormhole NTT.

To kick off this next chapter, WalletConnect is partnering with @phantom, @jup_dao, @Backpack and @solflare 👀

This is just the beginning. More details coming soon. pic.twitter.com/OM21h3x4f2

— WalletConnect (@WalletConnect) May 23, 2025

The Solana campaign marks the second major airdrop after a previous 50 million token distribution to WalletConnect users. According to the foundation, this airdrop valued at approximately $3 million based on the token’s current price. Claim instructions, eligibility requirements, and distribution schedules will be revealed in the coming weeks.

WalletConnect aims to reward loyal users and drive further adoption across Solana’s active ecosystem. The expansion aligns with the protocol’s goal to enhance accessibility and strengthen its presence in major blockchain networks. Staking and governance features will initially remain exclusive to Optimism’s OP Mainnet, with more chains planned soon.

Solana Market Responds with High Trading Volume

Solana (SOL) experienced volatile trading following the WCT launch announcement and the planned airdrop campaign. The price briefly spiked to $186 after an early dip but corrected sharply later in the day. SOL ended the session with a modest 0.94% gain, closing around $179.40.

The trading volume surged by nearly 35%, indicating strong market interest tied to the WalletConnect news. Analysts noted that partnerships with key Solana applications could sustain long-term growth in token activity. The market remains cautious but engaged as airdrop expectations build among active wallet users.

SOL’s performance reflects the market’s attention to real utility and user-driven incentives within the ecosystem. WalletConnect’s integration and incentives may increase interaction across the Solana DApp landscape. While the token remains volatile, developers and traders monitor ecosystem updates closely.