Rewards Strategy Modification: Starting from October 24th, Worldcoin will no longer reward its operators in USDC stablecoins but in WLD tokens, aiming to stimulate the circulation of the latter on the open market.
Initial Launch of WLD: Worldcoin has launched the WLD token with a relatively low circulating supply, slightly over 100 million WLD. The long-term strategy aims to distribute the majority of this supply to current and future users.
The Role of the Orb: The core innovation of Worldcoin is the Orb, a hardware device that verifies human identity through the retina. Those who are authenticated can claim WLD tokens, while Orb operators were previously rewarded in USDC for each scan.
Major Change for Worldcoin: Rewards Now in WLD
The Worldcoin project, both ambitious and controversial, has recently made a major modification to its rewards strategy. This decision is part of an effort to maximize the number of humans connected to its network. In pursuit of this mission, most WLD tokens will be distributed as user grants in the years to come.
The WLD token was launched with a relatively low circulating supply of just over 100 million WLD. This is due to the goal of creating a network that encompasses as many human beings as possible. To achieve this, the majority of the WLD token supply will be given to new and existing users in the form of user grants over the coming years.
Worldcoin
User identity and authenticity are at the core of the Worldcoin protocol. To accomplish this, the company utilizes a hardware unit, the Orb, which authenticates individuals by scanning their iris. This process ensures the humanity of the user and, according to Worldcoin, will ultimately serve the cryptocurrency and artificial intelligence ecosystems. Up until this recent change, Orb operators were compensated in USDC for each iris scan, although the exact amount of this compensation remains uncertain; they will now receive WLD tokens, increasing the circulating supply of the latter.
Worldcoin operators are independent participants in the ecosystem who operate Orbs. Since the launch of the WLD token on July 24, 2023, over 800,000 new and existing users verified by Orb have claimed approximately 34 million WLD in user grants.
