Incentivizing Orb Operators with WLD Tokens
Worldcoin has announced a change in its reward structure for Orb Operators. Instead of receiving USD Coins, operators will now be rewarded with the native Worldcoin (WLD) token for scanning people’s irises. This shift is set to take effect next month, marking a significant step for the project since its launch in July.
Successful Debut and Token Supply
Worldcoin made a successful debut on July 24, 2023, attracting the attention of the public. Nearly 800,000 Orb-verified users have claimed approximately 34 million WLD tokens through free user grants. The supply of WLD tokens has steadily increased from 100 million to over 134 million, representing 1.34% of the total supply of 10 billion tokens.
Change in Reward Structure
Starting from October 22, Worldcoin will no longer pay independent operators in USDC tokens for scanning irises. Instead, operators will exclusively receive their compensation in WLD tokens. To prepare for this change, a pilot program was launched on October 10 where selected operators were paid in WLD tokens.
Renewed Loan Agreements
Worldcoin’s subsidiary, World Assets Ltd., has revised its loan agreements with five market makers. The loan amount has been reduced from 100 million WLD to 75 million WLD until December 15, 2023. Market makers have agreed to return 25 million WLD tokens by October 24th and have the option to purchase additional tokens up to the total loan amount.
Worldcoin’s Growth Strategy
Worldcoin is strategically transitioning to a compensation structure based on WLD tokens for Orb Operators. Simultaneously, the project is reevaluating its loan agreements with market makers to enhance liquidity and price stability. These dynamic adjustments aim to drive growth for Worldcoin and its ecosystem.
Hot Take: Worldcoin Paves the Way for Token-based Rewards
Worldcoin’s decision to reward Orb Operators with WLD tokens instead of USD Coins reflects a shift towards token-based incentives within the cryptocurrency industry. By aligning compensation with the native token, Worldcoin not only creates a stronger connection between its platform and token economy but also encourages operators to actively participate in the growth of the network. This move highlights the potential of cryptocurrencies to revolutionize traditional reward systems and further solidifies Worldcoin’s position as an innovative player in the market.
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