  We study the dynamics of corotational wave maps from $\mathbb R^{1+2}
\rightarrow \mathbb S^2$ at threshold energy. It is known that topologically
trivial wave maps with energy $< 8\pi$ are global and scatter to a constant
map. In this work, we prove that a corotational wave map with energy equal to
$8\pi$ is globally defined and scatters in one time direction, and in the other
time direction, either the map is globally defined and scatters, or the map
breaks down in finite time and converges to a superposition of two harmonic
maps. The latter behavior stands in stark contrast to higher equivariant wave
maps with threshold energy which have been proven to be globally defined for
all time. Using techniques developed in this paper, we also construct a
corotational wave map with energy $= 8\pi$ which blows up in finite time. The
blow-up solution we construct provides the first example of a minimal
topologically trivial non-dispersing solution to the full wave map evolution.
