Worldcoin Foundation to Shift Payments to Orb Operators from USD Coin to Worldcoin Tokens
The Worldcoin Foundation, led by Sam Altman, has announced plans to transition payments for its Orb Operators from USD Coin (USDC) stablecoins to Worldcoin (WLD) tokens. This change will take effect next month. The Orb Operators play a crucial role in the project’s mission of verifying individuals’ identities through iris scanning. To facilitate this transition, a pilot program was initiated on October 10, where select operators began receiving rewards in WLD tokens.
Growing Circulation of Worldcoin Tokens
The circulation of Worldcoin’s native token, WLD, has been steadily increasing. The supply of WLD tokens has expanded from around 100 million at the time of launch to approximately 134 million at present. This growth can be attributed to the distribution of WLD tokens to Orb operators and users through grants.
Out of the total distributed WLD tokens, 100 million were provided as loans to market makers, while the remaining 34 million were granted to Orb operators and new users. To further enhance the circulation of WLD tokens, Worldcoin plans to give the majority of the token supply as user grants in the future.
Market Challenges and Loan Extension
Despite facing challenges from regulators and privacy advocates, Worldcoin is experiencing steady growth. In terms of loans provided to market makers, five entities received 100 million WLD loans initially set to expire on October 24, 2023. However, Worldcoin has extended the expiration date to December 15 with a reduced amount of 75 million WLD. Market makers can either return the tokens or purchase the remaining 25 million as part of the agreement.
Note that while the transition to WLD tokens for Orb Operators is significant, these tokens are currently not available to individuals or companies in the US and certain other restricted territories.
Worldcoin Token Price Fluctuations
The price of Worldcoin’s native WLD token has shown some volatility recently. It reached an all-time high of $2.65 on July 27, then dropped by 63% to a low of $0.97 on September 13. Currently, the token is trading at $1.51, down by 5.84% in the last 24 hours, according to CoinMarketCap.
Hot Take: Worldcoin Foundation Shifts Payments to Orb Operators from USD Coin to Worldcoin Tokens
The Worldcoin Foundation, led by Sam Altman, is making a significant move by shifting payments for its Orb Operators from USD Coin stablecoins to Worldcoin tokens. This transition aims to enhance the circulation and usage of Worldcoin’s native token, WLD. Despite facing challenges and volatility in token prices, Worldcoin continues to grow and adapt. This shift in payment method highlights the foundation’s commitment to its mission of verifying individuals’ identities through iris scanning technology.
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