Dear, many people use WalletConnect’s features for payments every day. But did you know? With such a vast connection network, how will it generate revenue going forward, and what role can the $WCT token play in this? Take a look at this quarter’s data: 95.69 million WCT tokens have been staked, accounting for approximately 20.4% of the circulating supply, with 72,500 active stakers. The ecosystem has added 91 new wallets and nearly 2,000 applications, with quarterly network transaction volume nearing $100 billion. Combined with over 700 integrated wallets and more than 80,000 applications, WalletConnect has already built a substantial user base. However, the size of network transaction volume doesn’t automatically translate into how much revenue the network can generate. This is precisely why founder Pedro initiated the open discussion “WCT Utility Design Space” on the governance forum — it’s worth paying attention to. The community can now participate in discussions: Which services are suitable for charging fees? How should WCT be involved in settlement? And once revenue is generated, how should it be distributed among stakers, wallets, and other network participants? One proposed direction is to keep end-user access free while charging applications based on usage, with WCT facilitating settlement, and revenue distribution determined through governance. If this path is implemented, WCT could gain sustained demand tied directly to network usage — beyond its role in governance alone. Moving forward, Moonlight will monitor whether these discussions lead to concrete proposals and whether applications are willing to pay for services. I believe these developments will determine whether the massive usage volume can truly support WCT’s long-term utility. If you were designing this, would you prioritize application-side fees, wallet incentives, or staker revenue distribution?