WLD Surges Over 70% After Worldcoin Revises Tokenomics

According to the latest post on July 16, 2024, from the Worldcoin (WLD) iris-scanning project, the unlock schedule for 80% of WLD allocated to the Tools for Humanity (TFH) team, investors, and early contributors will be extended from 3 to 5 years to align with Worldcoin’s long-term mission.

Initially, the tokens allocated to the TFH team and investors were locked for one year from the TGE (July 24, 2023), after which they would be unlocked daily (linearly) over the following two years, ending on July 24, 2026.

With the new unlock schedule, the linear distribution of tokens will extend over four years, concluding at the end of July 2028. Starting from July 24, approximately 2 million WLD will be unlocked daily, representing a 40% reduction from the original plan of 3.3 million WLD per day.

Worldcoin is developed and promoted by Tools for Humanity, founded by OpenAI CEO Sam Altman and Alex Blania, the CEO of the company. The project offers individuals a World ID and WLD tokens if they agree to scan their irises using a spherical device called Orbs to verify they are real humans.

Worldcoin assures that “WLD grants to verified World ID holders are unaffected,” adding that “over 211 million WLD have been claimed by World ID holders, representing more than 77% of the 275 million WLD in circulation.”

The latest information from Worldcoin indicates that the daily token distribution to the market will be reduced, mitigating the long-term circulating supply impact of WLD.

Related: What is Worldcoin? Information about WLD Token

Worldcoin (WLD) Price Fluctuations

Following this announcement and a market recovery, the price of WLD has surged by 70% from its recent low.