5 Important Money Management Tips for College Students

5 Important Money Management Tips for College Students

othifinance.com   May 29, 2025   Comment  

Illustration of college students. Image generated by AI.

Money Management Tips for students. It is definitely not easy to save and manage your finances in college while having to focus on your studies. The ability to navigate the financial complexities of college life is a crucial skill, often underemphasized in preparatory discussions.

We all want to learn money management and try to save money, even if it’s just a tad bit during college. Interested to know 5 best money management tips you students can do in college? Read along!

5 Money Management and Budgeting Tips for College Students You Must Know

1. Budgeting: The Keystone of Money Management

The first and most important money management tip in college is to create and adhere to a budget. Budgeting empowers students to prioritize their expenses, differentiate between wants and needs, and avoid the pitfalls of impulsive spending.

For example, if your college allowance is $1.500 per month, consider how much money you need for your daily needs, emergency funds, and how much to put into your savings account. To make it easier, write down your needs and the money needed.

2. Always Have Saving and Emergency Funds

College is an unpredictable journey, and financial emergencies can arise without warning. Make savings a habit in your money management journey; even if you can’t save a lot, small amounts matter, too.

This habit not only eases immediate financial stress but also instills lifelong financial discipline. You can make two accounts: one for spending and the other for saving to avoid over-spending money.

3. Take Advantage of Student Discounts

Being a student comes with plenty of perks, one of which is– student discounts! Almost every sector, whether beauty, subscriptions like Spotify, bookstores, gyms, restaurants, or cafes, offers special discounts for students.

To save yourself plenty of money, search for businesses that can offer you discounts. Are you looking for a hangout spot with your friends to study? Look for restaurants that offer student discounts.

Also, make it a habit to bring your student ID everywhere or take a picture of it in case you need to buy something and a student discount is available! Most businesses will verify your student status by asking for your student ID.

4. Learn About Financial Literacy

College is the perfect time to invest in financial literacy. Understanding the basics of investing, money management tips, the importance of credit scores, and the nuances of taxes prepares students for the financial realities of post-college life.

You can learn from your seniors or even online! There are plenty of resources available to you on how to save, manage money, and learn to invest. Remember that investing doesn’t always mean investing in cryptocurrency or stocks, but also investing in yourself!

5. Take a Freelance Job Opportunity

This last but not less important money management tip is taking a freelance job opportunity. If you notice that you have some spare time after or in between your studies, try taking a freelance job opportunity.

I understand that college can be tiring and busy, but as an ex-college student myself, the early and latest college days are the times when you have some extra free time to spare!

In addition, there are plenty of freelance remote opportunities online that you can find these days. So, you can work anywhere you are with flexible time. For example, if you are a Journalism major, you can look for remote content writing opportunities on job searching applications like Linkedin.

The money you earn from freelancing can be an extra income to your savings, and at the same time, you can build your portfolio!

US Trade Court Blocks Trump's Sweeping Tariffs. What Happens Now?

US Trade Court Blocks Trump's Sweeping Tariffs. What Happens Now?

othifinance.com   May 29, 2025   Comment  

Foto: Donald Trump (AP/Seth Wenig)

A US federal court has blocked President Donald Trump's sweeping global trade tariffs, in a major blow to a key component of his economic policies.

The Court of International Trade ruled that an emergency law invoked by the White House did not give the president unilateral authority to impose tariffs on nearly every one of the world's countries.

The New York-based court said the US Constitution gave Congress exclusive powers to regulate commerce with other nations, and that this was not superseded by the president's remit to safeguard the economy.

The Trump administration said it would appeal within minutes of the ruling.

Who brought the court case?

The ruling was based on two separate cases. The nonpartisan Liberty Justice Center brought one case on behalf of several small businesses that import goods from countries that were targeted by the duties, while a coalition of US state governments also challenged the import taxes.

The two cases mark the first major legal challenges to Trump's so-called "Liberation Day" tariffs.

A three-judge panel ruled that the International Emergency Economic Powers Act (IEEPA), a 1977 law that Trump cited to justify the tariffs, did not give him the power to impose the sweeping import taxes.

The court also blocked a separate set of levies the Trump administration imposed on China, Mexico and Canada, in response to what the administration said was the unacceptable flow of drugs and illegal immigrants into the US.

However, the court was not asked to address tariffs imposed on some specific goods like cars, steel and aluminium, which fall under a different law.

What has the reaction been so far?

The White House has criticised the ruling, though Trump has not yet commented directly.

"It is not for unelected judges to decide how to properly address a national emergency," White House deputy press secretary Kush Desai said in a statement.

"President Trump pledged to put America First, and the administration is committed to using every lever of executive power to address this crisis and restore American greatness," he added.

But Letitia James, the attorney general of New York, one of 12 states involved in the lawsuit, welcomed the decision.

"The law is clear: no president has the power to single-handedly raise taxes whenever they like," Letitia James said.

"These tariffs are a massive tax hike on working families and American businesses that would have led to more inflation, economic damage to businesses of all sizes, and job losses across the country if allowed to continue," she added.

Global markets have responded positively to the ruling. Stock markets in Asia rose on Thursday morning, US stock futures also jumped and the US dollar made gains against safe-haven peers, including the Japanese yen and Swiss franc.

What happens now?

The White House has 10 days to complete the bureaucratic process of halting the tariffs, although most are currently suspended anyway.

The case needs to go through the appeals process. If the White House is unsuccessful in its appeal, the US Customs and Border Protection Agency (CBP) will then issue directions to its officers, John Leonard, a former top official at the CBP, told the BBC.

That said, a higher court might be more Trump-friendly.

But if all courts do uphold the ruling, businesses which have had to pay tariffs will receive refunds on the amounts paid, with interest. These include the so-called reciprocal tariffs, which were lowered to 10% across the board for most countries and were raised to 145% on Chinese products, now 30%.

Mr Leonard said there would not be any changes at the border for now and that tariffs would still have to be paid.

Market reactions showed, partly, investors "exhaling after weeks of white-knuckle volatility sparked by trade war brinkmanship", Stephen Innes at SPI Asset Management wrote in a commentary.

Mr Innes said US judges gave a clear message: "The Oval Office isn't a trading desk, and the Constitution isn't a blank cheque."

"Executive overreach may finally have found its ceiling. And with it, a fresh dose of macro stability – at least until the next headline."

Paul Ashworth, from Capital Economics, said the ruling "will obviously throw into disarray the Trump administration's push to quickly seal trade 'deals' during the 90-day pause from tariffs".

He predicted other countries "will wait and see" what happens next.

How did we get here?

On 2 April, Trump unveiled an unprecedented global tariff regime by imposing import taxes on most of the US's trading partners.

A 10% baseline tariff was placed on most countries, along with steeper reciprocal tariffs handed down to dozens of nations and blocs, including the EU, UK, Canada, Mexico and China.

Trump argued that the sweeping economic policy would boost American manufacturing and protect jobs.

Global markets have been thrown into disarray since the announcement and later after Trump's reversals and pausing of tariffs as foreign governments came to the negotiating table.

Adding to the turmoil was a prolonged trade war with China, as the world's two economic superpowers engaged in a back-and-forth raising of tariffs, which reached a peak with a 145% US tax on Chinese imports, and a 125% Chinese tax on US imports.

The world's two biggest economies have since agreed to a truce, with US duties on China falling to 30%, and Chinese tariffs on some US imports reducing to 10%.

The UK and US have also announced a deal on lower tariffs between the two governments.

Trump threatened a 50% tariff from June on all goods coming from the EU after expressing frustration with the pace of trade talks with the bloc - but then agreed to extend the deadline by more than a month after EU Commission chief Ursula von der Leyen said more time was needed.

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Tempus AI Stock Sinks Following Spruce Point Short Report

Tempus AI Stock Sinks Following Spruce Point Short Report

othifinance.com   May 28, 2025   Comment  

Shares of Tempus AI (NASDAQ: TEM) tumbled 4% after the company was targeted in a short-seller report by Spruce Point. The report raised serious concerns about the integrity of Tempus AI’s product, the credibility of its management, and its financial reporting practices.

The Spruce Point report, which follows a forensic review of the precision medicine solutions company, criticized Tempus AI for the minimal revenue generated from its AI Applications product line, suggesting a disconnect between the company’s branding and its financial reality. In 2024, AI-related revenue was reported to be just $12.4 million, less than 2% of the company’s total revenue of $693.4 million. The prior year, AI revenue was only $5.5 million.

Moreover, the report highlighted concerns over Tempus AI’s leadership, noting CEO Eric Lefkofsky’s history with companies that experienced financial scandals, including bankruptcies and restatements. It also questioned the company’s partnerships and joint ventures, suggesting potential round-tripped sales and related party deals.

The report further scrutinized Tempus AI’s billing practices, indicating aggressive use of billing code 81479, known for minimal oversight and a high risk of abuse. This tactic could inflate revenue at the expense of patient care, with the report suggesting that Tempus AI and its acquired entity, Ambry, may prioritize revenue over clinical necessity.

In conclusion, Spruce Point warned investors of the company’s reliance on perceived equity value, aggressive accounting, and unsustainable practices. They projected a 50% – 60% potential downside risk to Tempus AI’s share price, advising extreme caution and close scrutiny of the company’s public statements. The sell-side consensus price target stands at $66.82 per share, which implies a mere 1% upside potential.

Investors reacted to the report by selling off shares, reflecting the market’s concern over the allegations made by Spruce Point.

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Gold Technical Analysis – Consolidation Ahead of the Next Big Move

Gold Technical Analysis – Consolidation Ahead of the Next Big Move

othifinance.com   May 27, 2025   Comment  

Gold is consolidating as the market awaits the next key catalyst to trigger a breakout. What’s next?

Fundamental Overview

As the market finished to reprice the interest rates expectations for the Fed and got back in line with the central bank’s baseline scenario of two rate cuts in 2025, the pressure on gold waned and the precious metal started to climb up again.

Last Friday, Trump’s threat of imposing a 50% tariff on EU on June 1st because of slow progress on trade negotiations boosted gold, but as things improved and the tariffs got delayed to the original deadline in July, gold erased all the gains.

In the bigger picture, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing. But in the short-term the repricing in rate cuts expectations could weigh on gold, so watch out for the economic data and Fed comments.

For now, we are stuck in a big consolidation as the market awaits the next key catalyst to trigger a breakout and a more sustained trend.

Gold Technical Analysis – Daily Timeframe

Gold Daily

On the daily chart, we can see that gold rejected the downward trendline that’s been defining the correction. That’s where the sellers stepped in with a defined risk above the trendline to position for a drop back into the major upward trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into a new all-time high.

Gold Technical Analysis – 4 hour Timeframe

Gold 4 hour

On the 4 hour chart, we can see that we had a minor upward trendline defining the bullish momentum on this timeframe. The price broke below the trendline today and the sellers started to pile in for a bigger pullback into the 3278 level. That’s where we can expect the buyers to step in with a defined risk below the level to target a break above the major downward trendline.

Gold Technical Analysis – 1 hour Timeframe

Gold 1 hour

On the 1 hour chart, there’s not much else we can add here as the sellers remain in control for now and from a risk management perspective, the buyers will have a better risk to reward setup around the 3278 level. The red lines define the average daily range for today.

10 Healthy Financial Habits for College Students

10 Healthy Financial Habits for College Students

othifinance.com   May 26, 2025   Comment  

Illustration of college students. Image generated by AI.

We totally get it. College is a time for fun and learning all about a subject or major that interests you. You may be super busy, and your financial future may not be top of mind. However, the sooner you start your financial wellness journey, the better, and it’s ok to start right now, wherever you are on your personal roadmap. College can be a great time to learn how to manage your money and build spending habits that will help set the stage for financial success for the rest of your life. Read on to learn 10 money management tips for college students to set yourself up for success. You’ll learn how making even the smallest adjustments to your financial decisions can have big impact when you graduate.

1. Take a money inventory

We know you have a lot on your plate. So let’s just take it one step at a time. Before you can start to develop good financial habits, take a look at your basic income and expenses. Here are some things to think about:

• How much do you have in your student or teen checking account, as well as savings?
• How much do you have in student loans?
• Are your parents or guardians pitching in financially? If so, how much?
• How much is your meal plan at school?
• What are your basic living expenses? (rent, food, transportation, entertainment)
• How many financial accounts and credit cards do you have?

In addition to your studies, a large percentage of college students also work part-time jobs. In fact, according to the National Center for Education Statistics, in 2020, the percentage of undergraduate students who were employed was 74% among part-time students, and full time students with jobs totaled 40%. You are busy. But instead of simply trying to stay afloat, it’s beneficial to create a budget, especially if you are saving for any long-term financial goals such as getting your own apartment when you graduate, buying a car or paying off student loans.

2. Set a budget and track expenses

Start by assigning each category of your expenses a dollar amount, and work toward sticking to those numbers so you stay within your budget. A monthly starter budget might look something like this:

Monthly Expenses:

Rent: $800 -$1,200

Consider living further from campus, getting a roommate, and taking public transport if you feel that’s an option.

Food: $350-$500

A meal plan offered by a college is usually the easiest and cheapest option. If you’re living off campus, buy groceries and cook your own meals. Takeout and delivery can really add up. Also, keep in mind meal plans are often still available even if you live off-campus.

Ride Sharing: $100

Sharing a ride with friends can be more economical than riding alone. But if your rides are adding up, consider getting a bicycle, taking public transportation (if it feels safe) or even pooling money with roommates for a used car to share.

Cell phone bill: $85-$125

Are you sure you are using all the data you’re paying for? Sometimes simply calling your provider and asking how much data you’re burning through can allow you to lower your plan. All the bells and whistles can add up.

Subscriptions to streaming services: $100

It’s easy to accidentally sign up for too many streaming services. Be sure to do an inventory every month to be sure you don’t have ones on your account you are no longer using.

Gas: $100

While gas prices go up and down, the amount you spend will depend on how often you use your car. If you are going somewhere local, consider getting in your steps or using a bicycle.

Entertainment: $50-$300

Who doesn’t love going to concerts? Ticket prices can add up, so think about attending shows right on-campus and supporting your classmates in the theatre program. Also, instead of big-name acts, there are often up-and-coming musicians performing in local cafes. Many are free or have open mic nights showcasing great local talent (also free!).

3. Open a savings account in addition to a checking account

Choose a student-designated checking account, which could help you with features such as no overdraft fees and unlimited ATM transactions on any machine nationwide (so you can go back and forth from campus to home and not get hit with a dumb charge when you use a different bank’s ATM!).

Even if your college-student budget is just enough to cover your expenses, you’ll still want to open a student savings account. Look into a student high yield savings account so that you can earn interest on your deposits. Also, many banks offer incentives, such as cash, upon opening an account that will help you get closer to your financial goals, whether that’s buying a new car, moving into your own apartment, or building an emergency fund. Student savings accounts can have awesome perks such as getting paid early, where your paycheck hits your bank account 2 days earlier (allowing you to both budget for future goals and plan what concert you’re going to this weekend!).

4. Automate finances

Adulting can be hard, and setting aside money or remembering to pay bills is even harder. Try an app on your phone, tablet, or even on paper, to create a holistic digital budget.

Automating your savings and bills can make everything seem more manageable. For example, you can set up direct deposit with as little as $20 from your checking account to your savings account each month. You can also automate recurring bills like credit cards to at least pay the minimum each month. Just keep tabs on your finances so you don't overdraft your account.

5. Student discounts

You're investing significant funds to attend school. It only makes sense that you take advantage of student discounts whenever possible. You may get discounts on food, movies, and transportation, for example. Not sure if there’s a discount offered? Just ask! Keep your student ID on hand when making purchases.

6. Watch out for recurring expenses and fees

When it comes to managing money in college, be mindful of small, recurring expenses and fees that can add up over time. Look through your bills for expenses such as streaming services or subscriptions. Do you really need them? Are they bringing value to your life? If not, ditch them. Another idea is to split the subscription with a roommate(s). When it comes to cell phone bills, streaming platforms, etc., it’s always good to check whether you can lower your bill with any new promotions. Simply calling customer service and asking if you’re receiving the lowest rate possible can cut a few dollars off your total. When using any new services, be sure to read the fine print so you're not hit with any unexpected fees.

7. Think outside the box for ways to earn money or lower expenses

Evaluate your essentials — such as rent, food, and transportation — as well as non-essentials. Here are a few quick ideas for earning extra dough other than working a million hours outside of school.

• Food, transportation, and housing: Can you add another roommate, or find ways to save on meals or groceries? Is using public transit or walking or biking to campus or a job a viable option compared to driving or using a ride-share service?
• Social media influencer: Maybe you take amazing photos, and your friends keep telling you you’d be great as a social media influencer. Why wait for graduation when you can make money and learn a skill for your resume now? Many companies have been hatched out of student dorms, and there’s an entrepreneur lurking inside every one of you.
• Dorm cleaning service: Maybe you’ve noticed your classmates (ahem) are lacking basic cleanliness and never pick up their rooms, but your aunt ran a cleaning service and you used to help her after school and know how to run a business.
• Babysitting, house sitting, pet sitting: If you live off-campus, you might live amongst families looking for a sitter. You can always go out one weekend night and reserve the other for sitting. Bonus points if they feed you dinner and you can save on a meal! Also, consider house sitting or pet sitting.
• Work-study: There are many work-study arrangements where you can save money, including working in the dining hall, being an RA for free housing, working elsewhere on campus, or helping a professor as a student teacher or with additional research.

8. Learn about investing and saving for retirement

• Consider a 401(k): When you start your first job, your employer may offer an employer-sponsored retirement plan, like a 401(k). Basically, whatever money you put into it from your paycheck, your employer matches (free money, yay!).
• Timing is everything: The most important thing to remember when thinking about a retirement savings plan is the sooner you get started the better. You want the most amount of time to save up toward your future goals.
• Save your bonus: You’ll also want to consider any bonuses from a first job or cash windfalls for this account, rather than putting them in checking, where they might be spent.

While saving for retirement while still a college student may be tough, it’s a great idea to start educating yourself on your hopes and dreams surrounding retirement and how much of your paycheck you want to dedicate toward it, upon landing your first job. You might want to read up on the F.I.R.E. movement, which stands for “Financial Independence, Retire Early.” Those who take up this lifestyle often save aggressively, with the goal to retire early, say by 50, or in extreme cases, 40. While the average person can’t commit to saving that much for retirement due to other bills, it’s a thought-provoking concept.

9. Build your credit

Your credit score will factor into everything, from renting an apartment to buying a car to purchasing your first home. Luckily, there are many ways to build credit while still a student.

If you have student loans, consider making small payments of $25-$50 per month (or twice a month) while you’re still in school to pay down interest and have some positive repayment history on record. The two best ways to grow your credit are to make payments on time and to borrow only what you need. You can also check your credit report for free at https://www.annualcreditreport.com.

10. Have a debt payoff plan

According to the Washington Post, one in every five Americans currently has student debt. Once you finish school and the grace period is up, you'll have to start making student loan payments. It may seem jarring to go from paying nothing to paying several hundred dollars a month. If you look at your total projected debt, repayment plans, and interest, you can create a long-term debt payoff plan that puts you in a good place after you graduate. Be sure to also look into refinancing your loan, making payments while you’re still in school, signing up for autopay for a discount, or even looking for a company for your first job that pays off some of your debt upon signing an employment agreement. Lastly, be sure to not take more loans than you need.

Next-Gen EV Power Arrives: World’s First Solid-State Battery Line Promises Unmatched Range, Speed, and Thermal Stability for Cars

Next-Gen EV Power Arrives: World’s First Solid-State Battery Line Promises Unmatched Range, Speed, and Thermal Stability for Cars

othifinance.com   May 24, 2025   Comment  

Illustration of solid-state battery production line. Image generated by AI.

In a groundbreaking move poised to redefine the future of electric mobility, Gotion has unveiled its first experimental production line dedicated to next-generation all-solid-state batteries, offering a glimpse into a safer and more efficient energy future.

In the rapidly evolving landscape of electric vehicle (EV) technology, the race to produce next-generation solid-state batteries has intensified. Several leading companies are striving to bring these innovations to market within the next two years, promising significant advancements in energy density and safety. Among these pioneers, Gotion stands out with its recent launch of a pilot production line dedicated to refining all-solid-state battery technologies. This development marks a crucial step toward the realization of safer and more efficient battery solutions that could redefine the future of electric mobility.

Gotion’s Milestone in Solid-State Battery Innovation

Gotion, a global leader in EV battery manufacturing, has officially entered the competitive arena of solid-state batteries. Unveiled at Gotion High-tech’s 13th tech conference, their new pilot production line represents a major milestone in the journey toward safer and more efficient battery technologies. With a capacity of 0.2 gigawatt-hours, this facility is set to produce Gotion’s all-solid-state Gemstone battery cells, which are already undergoing rigorous real-world testing in electric vehicles.

The Gemstone batteries promise a remarkable increase in energy density, delivering approximately 350 watt-hours per kilogram. This enhanced capacity translates to a 40 percent improvement over traditional lithium ternary cells, promising more efficient and longer-lasting power for EVs. As these batteries continue to undergo testing, their potential to revolutionize the industry becomes increasingly apparent.

Pushing Battery Tech Forward

Under the leadership of Pan Ruijun, head of research and development for the Gemstone project, Gotion has emphasized the use of domestically manufactured equipment in their production setup. This strategic move not only reduces reliance on foreign suppliers but also underscores China’s growing leadership in battery innovation. Ruijun highlighted that after a full year of performance validation, individual Gemstone cells have achieved a 150 percent increase in capacity, showcasing their potential to transform the industry.

The emphasis on safety is another critical aspect of Gotion’s innovation. The Gemstone batteries have successfully passed rigorous tests, including pin-prick, hot-box, overcharge, and crush simulations. These tests reinforce their promise as a safer alternative to conventional lithium-ion cells, which are prone to overheating and thermal runaway. With these advancements, the vision of an ultimate battery that combines safety and efficiency may soon become a reality.

Gotion Eyes 2030 for Mass Production

While Gotion has not yet set an official date for mass production, the company has previously indicated that small-scale production and vehicle integration could begin by 2027, with full-scale manufacturing anticipated by 2030. This timeline aligns with similar goals set by major competitors, such as CATL and BYD, who are also targeting 2027 for the limited deployment of solid-state batteries.

Despite the enthusiasm surrounding these developments, significant challenges remain. Scaling up manufacturing, ensuring long-term material stability, and reducing production costs are among the hurdles that must be addressed. Additionally, the introduction of stricter safety standards by the Chinese government, set to take effect in 2026, aims to further improve battery safety. Nevertheless, Gotion’s transition to pilot-scale production signals a shift from theoretical development to practical implementation, positioning the company at the forefront of the solid-state revolution.

The Broader Implications for the EV Market

With a 3.5 percent share of the global EV battery market as of early 2025, Gotion is now poised to play a pivotal role in the solid-state battery sector. If the company achieves its projected goals, the Gemstone line could significantly influence battery architecture and accelerate the transition to cleaner transportation. This development is part of a broader trend as the industry moves toward more sustainable and efficient energy solutions.

The potential impact of solid-state batteries extends beyond individual manufacturers. As these technologies become more widely adopted, they could lead to significant reductions in greenhouse gas emissions, improved vehicle performance, and greater energy independence. The implications for the global EV market are profound, promising a cleaner and more efficient future for transportation.

As the race to develop and commercialize solid-state batteries intensifies, the entire industry stands on the brink of a transformative leap forward. The progress made by companies like Gotion is a testament to the potential of innovation to reshape the future. What further advancements will we see as these technologies continue to evolve, and how will they redefine the way we power our world?

WalletConnect Token Expands to Solana With 5 Million WCT Set For Airdrop

WalletConnect Token Expands to Solana With 5 Million WCT Set For Airdrop

othifinance.com   May 24, 2025   Comment  

WalletConnect, a protocol that connects crypto wallets to apps, has launched its token on Solana — its third chain after Optimism's OP Mainnet and Ethereum — along with an airdrop of 5 million tokens set for active Solana users.

The Solana expansion uses Wormhole's native token transfers (NTT) framework, allowing WCT to move natively — not as a wrapped token — across all three supported chains. The Solana launch comes less than a month after WCT went live on Ethereum, also via NTT, following its original debut on Optimism's OP Mainnet.

To support the launch, the WalletConnect Foundation said it will airdrop 5 million WCT to active Solana users through partners including Phantom, Jupiter, Backpack, and Solflare. The 5 million tokens are part of the 185 million WCT the foundation earmarked for airdrops last September, founder and director Pedro Gomes told The Block. This will be the second major WCT airdrop, following the 50 million tokens distributed to the WalletConnect community in the first season last November, the foundation said.

WCT is currently trading at around $0.60, valuing the airdrop for Solana users at about $3 million, according to The Block's WCT price page.

Airdrop claims for Solana users will open this summer, with eligibility criteria, distribution timelines, and claiming instructions to be announced in the coming weeks, Gomes said.

WCT launches on Solana

Launching WCT on Solana gives users faster and cheaper transactions and makes WalletConnect easier to use across Solana apps, Gomes said. "It will eventually open new governance opportunities and further connect WalletConnect to one of the most vibrant onchain communities," he added. Currently, WCT staking and governance are available only on Optimism's OP Mainnet.

WCT is expected to start trading on Solana decentralized exchanges soon, and users will be able to move tokens via Wormhole's Portal Bridge once support goes live, Gomes said.

Notably, Solana apps like Backpack, Drift, Kamino, and Marinade already use Reown's AppKit — a software development kit built on top of the WalletConnect protocol. While many Solana projects have integrated the AppKit to enable WalletConnect connectivity, the Wormhole NTT integration now allows these apps to also support the WCT token directly, including listing, trading, and eventually staking and governance features, Gomes said. Reown, formerly known as WalletConnect Inc., is the core team behind both the protocol and its developer tools.

The expansion to Ethereum and Solana does not affect WCT's total supply, which remains unchanged. Gomes said WalletConnect used Wormhole's "burn-and-mint" model for both deployments, where tokens are burned on the source chain and minted on the destination chain — keeping supply consistent across networks.

WalletConnect is also planning to expand WCT to more chains in the future. Gomes said the team is actively working with several networks in the Optimism Superchain ecosystem and is prioritizing chains with a strong focus on wallet user experience and onchain content. "We want to go where the builders and users are," he said.