Upbit, one of South Korea’s major digital asset exchanges, has announced that it will begin supporting WalletConnect (WCT) trading in the KRW, BTC and USDT markets from 18:00 UTC on April 16th.
Upbit to list WalletConnect (WCT) for trading on April 16th in the KRW, BTC and USDT markets
This list aims to follow the exchange’s regular market valuation process and expand access to innovative blockchain projects.
WCT will be available on the Optimist Network, with deposits and withdrawals open within two hours of this announcement. Upbit emphasized that users need to ensure the correct network before depositing digital assets to avoid delays and complications.
Temporary trade restrictions
To ensure fair market activity during the initial trading window, Upbit implements temporary restrictions.
- Purchase orders will be restricted for approximately five minutes after trade begins.
- Sales orders 10% below previous tight prices will be limited for the first five minutes.
- Only limit orders will be accepted for the first hour after trading begins.
What is WalletConnect (WCT)?
WalletConnect is a widely adopted protocol for connecting blockchain wallets to decentralized applications (DAPP). Built on its own network infrastructure, WalletConnect enhances the on-chain user experience by promoting seamless interactions between wallets and DAPP.
WCT tokens are used for governance and staking by supporting the operation of service and gateway nodes within the Wallet Connect network.
With this new listing, Upbit continues to expand its service-centric digital asset offering by providing users with the opportunity to explore Web3 infrastructure and distributed finance.
*This is not investment advice.
