- The shift to rewarding Orb operators exclusively in WLD tokens is part of a transition phase in Worldcoin’s development.
- The supply of the WLD token has grown from approximately 100 million at the time of launch to approximately 134 million.
World currency [WLD] is about to switch from paying its Orb operators in USD coins [USDC] to use its own Worldcoin token as early as next month, following the project’s official launch on July 24.
In a announcement On October 22, Worldcoin revealed that its Orb Operators, described as “independent ecosystem participants” responsible for scanning people’s irises in exchange for WLD tokens, will no longer receive USDC payments starting in November.
This change is expected to apply to most jurisdictions.
Marks a new phase in project development?
The shift to rewarding Orb operators exclusively in WLD tokens is part of a transition phase in Worldcoin’s development. The Worldcoin Foundation launched a pilot program on October 10 to allocate payment to selected operators in WLD tokens, with the aim of fully implementing the transition by November 2023.
Facts Worldcoin’s official Dune Analytics dashboard shows that the supply of the WLD token has grown from approximately 100 million at the time of launch to approximately 134 million at the time of this announcement.
Of the 134 million WLD tokens issued to date, 100 million were allocated as loans to market makers, while the remaining 34 million were distributed to Orb operators and new users as ‘free user grants’.
Worldcoin announced that five market-making entities have received the WLD 100 million loans, which were originally set to mature on October 24, 2023. However, Worldcoin has extended the loan maturity date to December 15, reducing the amount to WLD 75 million.
Under the agreement, market makers will return or purchase some or all of the remaining 25 million WLD tokens.
Worldcoin is still not welcome in many countries
Worldcoin is increasingly under scrutiny in several countries due to privacy concerns. Several other countries, including Britain, France and Germany, have also raised privacy concerns and are investigating Worldcoin’s data practices.
Kenya previously suspended Worldcoin operations over similar concerns.
The government of Argentina has also launched an investigation into Worldcoin’s data processing practices. It is important to note that at the time of writing, Worldcoin tokens were not available to individuals or companies residing in the United States and certain other restricted areas.
At the time of writing, WLD was trading at $1,502, according to to TradingView.
