1/ When you stake WCT in the WalletConnect Network you have to lock your tokens for a period of time…
It can be 2 weeks, 1 month, 1 year or even 2 years
The longer you lock your tokens the more stake weight you have!
2/ For simplicity let’s refer to Stake Weight as “stWCT”
For 1000 WCT locked for 2 years you have 500 stWCT
For 1000 WCT locked for 1 year you have 250 stWCT
For 1000 WCT locked for 1 month you have 20 stWCT
For 1000 WCT locked for 2 weeks you have 10 stWCT
3/ This is important because it affects both…
Staking Rewards → the more stake weight the more rewards you can claim
Governance Voting → the more stake weight the more voting power you have
4/ Right now there is a Governance vote active with 1M stWCT out of the total 12M stWCT
That means more than 8% all stake weight has already vote in the first proposal!
Go to vote.walletconnect.network to cast your vote on the UX Council