TechFlow News, on February 21, according to The Block, the WalletConnect Foundation raised $10 million through four oversubscribed token sales rounds. Specifically, the Bitget LaunchX community round achieved its $4 million target within two hours, with over 40,000 investors subscribing for more than $170 million; the CoinList community round attracted 18,000 investors and received $15.5 million in subscriptions, exceeding its target by four times; a $500,000 private placement on the Echo platform was led by Tea Club; another $1.5 million private sale targeted long-term supporters.
Pedro Gomes, founder and director of the WalletConnect Foundation, stated that the funds will be used to scale operations, expand the team, and develop the ecosystem. WCT tokens are currently non-transferable and will only become transferable after the open-source Service Node code is completed, followed by a community vote to determine the timing of transferability.
