🚀 WalletConnect Pay: Why do we need cryptocurrency cashback? How will it change mass adoption?
WalletConnect CEO Jess Houlgrave reveals the core issues facing crypto payments. Spoiler: It's not about the 'complex interface' or slow blockchains.
💡 The problem is not the technology, but the incentive mechanism
Houlgrave believes that the industry has long focused on technical details while neglecting the most important point—why should average users choose crypto wallets over their accustomed bank cards?
Traditional banks have retained customers for decades with simple and understandable reward psychology. Cashback has conditioned us to think: using a bank card is cost-effective. WalletConnect aims to bring this experience into Web3.
🔥 WalletConnect Pay: Up to 2% cashback in WCT tokens
The company announced the launch of WalletConnect Pay, a payment solution with a native reward system. Now, users can receive up to 2% cashback in WCT tokens when shopping online or offline.
What are the highlights of this model?
Habitual behavior: You don't need to explain the advantages of decentralization; people just want to save 2% when shopping. The practical utility of WCT: The token is not used for speculation but as a tool that directly returns value to users. User retention: Cashback is deposited directly into the wallet, fostering the habit of using cryptocurrency for everyday spending.
🛑 The end of the 'hollow' incentive era
Houlgrave harshly criticized projects that inflate ecosystems through endless token issuance and aggressive marketing. Such 'helicopter money drops' only attract opportunists, who will vanish once the funds dry up.
WalletConnect's approach is entirely different:
Cashback is linked to actual revenue. Transparent and predictable governance rules. Rules won’t change arbitrarily and suddenly.
📈 Summary
Cryptocurrency payments are moving out of the early adopters' 'sandbox'. WalletConnect bets on economic pragmatism: if paying with cryptocurrency is more cost-effective than using fiat, mass adoption will naturally occur.
Will you choose bank mileage points or a 2% cashback in WCT? Let me know in the comments! 👇
#WalletConnect #WCT #CryptoPayments #Web3 #Cashback