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Governance

The governance of the WalletConnect Network is structured to facilitate decentralization, transparency, and community participation. This section outlines the roles and responsibilities of the WalletConnect Foundation and the community governance model that guides the Network.

Foundation​

The WalletConnect Foundation is tasked with stewarding the Network by promoting its adoption, use, and growth. The Foundation's responsibilities include overview of grants to stakeholders, supporting applications, sdk and wallet development teams, and managing partnerships.

Councils​

The Councils includes several curated groups of individuals who are responsible for the different functions that are either part of the foundation, core development teams, node operator teams or work independently. Envisioned Councils include:

  • Technical Council - responsible for the technology & infrastructure
  • Partnerships Council - responsible for the partnerships & growth

This structure is projected to be implemented during the constitution of the community governance.

Community Governance​

The WalletConnect Network is designed for a fully decentralized governance model managed by community governance. Further decentralization is expected to be facilitated by approved proposals of WCT tokenholders participating in the Network governance.

Optimally this transition occurs through planned, multiple phases. An example of such planned multiple phases follows, though the actual transition will depend on input and approval from WCT tokenholders:

  1. Phase 1 - TGE Preparation:

    • The WalletConnect Foundation was established and began operations.
    • The Foundation and reown collaborate on the Network's technical, community, partnerships, and administrative governance.

  2. Phase 2 - Foundation Transition:

    • The Foundation establishes different councils to eventually take over various governance functions.
    • The Foundation expands its programs and responsibilities over community, partnerships, and administration considerations for the Network.
    • The community governance arises from WCT token stakers who participate in the Network and its governance.

  3. Phase 3 - Partnerships Transition:

    • The Partnerships Council, elected by the community governance, assumes a more prominent role in community initiatives, including marketing, business development, grants programs, education, developer relations, and events.

  4. Phase 4 - Technology Transition:

    • The Technical Council, elected by the community governance, assumes responsibility for technical governance as the Network becomes permissionless.
    • The Foundation coordinates this transition.

  5. Phase 5 - Administration Transition:

    • The Foundation requires community governance approval to establish annual budgets, review and elect councils, and handle other administrative responsibilities through voting by community governance delegates.
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Token holders can participate in governance starting in Phase 2 after TGE by staking their WCT tokens, proposing changes, and voting on key issues, thereby shaping the future of the WalletConnect Network.