The Worldcoin Foundation has made a significant update to the reward system for Orb device operators. Instead of receiving payment in the popular stablecoin USD Coin (USDC), operators will now be paid in WLD tokens. This change comes as the Foundation transitions from the post-launch phase and moves away from the stablecoin.
Transition to WLD Tokens
“The Worldcoin Operators are independent ecosystem participants who operate custom imaging devices called Orbs and receive rewards for verifying people’s uniqueness and humanness.”
As of October 10, the Worldcoin Foundation has initiated a pilot program where selected operators will receive rewards in Worldcoin (WLD) tokens. These rewards will also contribute to the circulating supply of WLD. It’s worth noting that WLD tokens are not available to individuals or companies residing in the United States and certain other restricted territories.
Since the token’s launch on July 24, over 800,000 Orb-verified users have claimed approximately WLD 34 million in free user grants. This has led to an increase in the circulating supply from WLD 100 million to WLD 134 million (1.34% of the total supply of 10 billion tokens).
Current Status of WLD
According to the Worldcoin Foundation, as of writing this article (9:15 UTC, Monday morning), WLD is trading at $1.54, experiencing a 5.2% decrease in value within a day. Over the past week, WLD has seen a decline of nearly 3%, and over the past month, a decrease of almost 2%. The token reached an all-time high of $3.30 on its launch day but has since fallen by 53%. Conversely, its all-time low of $0.97 was recorded in September, with a subsequent increase of 59%.
Based on CoinGecko’s market capitalization ranking, WLD is currently placed at 146th, with a total market capitalization of $207.2 million.
To ensure sufficient liquidity for WLD tokens traded on centralized exchanges outside the United States, a subsidiary of the Worldcoin Foundation called World Assets Ltd. signed loan agreements with five market makers. Initially, the market makers received loans of WLD 100 million, set to expire on October 24. However, the loan agreements have been extended until December 15, with a reduced loan amount of WLD 75 million. Consequently, a portion of the circulating supply will be returned, resulting in a reduction of tokens in circulation.
