The Worldcoin Foundation Transitions to Paying Orb Operators in WLD Tokens
The Worldcoin Foundation has announced its plans to pay orb operators, who scan people into the Worldcoin network, in WLD tokens instead of USDC stablecoins. This transition is expected to be completed by next month. However, this announcement is not visible to users in the United States.
Update on WLD Token’s Circulating Supply
In addition to the payment transition, the Foundation provided an update on the circulating supply of the WLD token. Currently, over 1% of the total supply of 10 billion tokens has been circulated. Out of the 134 million WLD tokens issued, 100 million were given as loans to market makers, while 34 million have been distributed to users and orb operators as grants.
Renewal of Market Maker Loan Agreements
The loan agreements with market makers are set to expire on October 24. Worldcoin has announced that these agreements will be renewed until December 15, but with a reduced amount of 75 million tokens. As part of the agreement, market makers will either return or purchase some or all of the remaining 25 million tokens.
Steady Growth in Token Grants
Despite facing operational challenges, Worldcoin’s token grants have been steadily growing over time. Initially experiencing a period of hyped adoption, the grants are now showing consistent growth.
Hot Take: Worldcoin’s Transition to WLD Payments
The Worldcoin Foundation’s decision to pay orb operators in WLD tokens instead of USDC stablecoins marks an important shift in their payment system. By utilizing their own cryptocurrency, they can further integrate their network and incentivize participation. This transition also highlights the Foundation’s commitment to the growth and adoption of the WLD token. With the renewal of market maker loan agreements and steady growth in token grants, Worldcoin is positioning itself for long-term success in the crypto space.
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