Announcement Highlights: The Worldcoin Foundation plans to shift from Circle’s USD Coin (USDC) to its own WLD token as the reward for Orb operators. This transition will begin in November 2023, marking the end of a “transitional period.”
Background: Since its launch in July 2023, the Worldcoin project has been compensating Orb Operators using USDC. The foundation announced that by November 2023, all Operators will be rewarded in WLD.
WLD Token Dynamics: The announcement also highlighted the growth of the WLD token. Initially, there were around 100 million WLDs, but now the circulating supply has increased to 134 million. A portion of the tokens has been allocated as loans to market makers, and a small portion has been granted to select operators. There are also 34.4 million WLDs designated as “free user grants.”
Loan Program Insights: The Worldcoin Foundation revealed that it entered into loan agreements with five market makers to ensure liquidity for WLD on external exchanges. The loan program will last until December 15, with a reduced total loan amount of 75 million WLD. A return of 25 million WLD is expected on October 24.