WLD increased more than 20% after Worldcoin extended Team & Investors' token unlock schedule

WLD price "strengthened" by more than 20% after the announcement of changing the initial token unlocking schedule of Team & Investors from the original 3 years to 5 years.

According to the latest post on the evening of July 16, 2024 of the Worldcoin (WLD) retinal scanning project, the unlocking schedule for 80% of WLDs is set by Tools for Humanity (TFH) team members, investors and others. Early contributors will receive an extension from 3 to 5 years to align with Worldcoin's long-term mission.

According to the latest Worldcoin white paper, the unlocking schedule of WLD tokens for about 80% of TFH investors and team members will be extended from 3 years to 5 years. After July 24, about 2 million WLD will be unlocked every day, equivalent to about 4.8 million US dollars,…

— Wu Blockchain (@WuBlockchain) July 16, 2024

According to the original plan, the tokens for the TFH team and investors are locked for 1 year from TGE (July 24, 2023), then will be unlocked daily (also known as linear). ) in the next 2 years (ending on July 24, 2026).

With the newly announced unlock schedule, the linear allocation of tokens will last for 4 years (ending at the end of July 2028). Starting from July 24, about 2 million WLD (worth 4.8 million USD at the time of writing) will be unlocked every day, meaning a 40% decrease in value compared to the original unlock plan of 3 .3 million WLD.

Worldcoin is developed and promoted by Tools for Humanity, founded by OpenAI CEO Sam Altman and Alex Blania, who is also the company's CEO. The project offers people World IDs and WLD tokens if they agree to have their eye retinas scanned with a spherical device called Orbs to prove they are real people.

Worldcoin said, “WLD grants to verified World ID holders are not affected,” adding that “more than 211 million WLD have been claimed by World ID holders, representing over 77% of 275 million WLD in circulation."

The project further states "The remaining 7.22 billion WLD in the Worldcoin Community pool is currently managed by the Worldcoin Foundation and its affiliated entity World Assets Ltd to support the long-term sustainability of the Worldcoin project."

The latest information from Worldcoin means the daily allocation of tokens to the market is reduced, reducing the impact on WLD's circulation in the long term. Thanks to that, the price of WLD immediately reacted positively, increasing by more than 20% to reach 2,477 USD right after the announcement. Currently trading "changing hands" around $2.4.

The announcement to extend the WLD unlocking schedule comes in the context of Worldcoin "busily" preparing for the launch of its own layer-2 blockchain called World Chain - designed to make Worldcoin more effective when helping people Authenticated users (individuals with World ID) can enjoy additional incentives when trading (speed, gas fees...) and limit profiteering attacks by bots.

Although Worldcoin recently launched the "Personal Custody" feature, which gives World ID holders the right to self-store and encrypt biometric data, the project still faces a lot of opposition from authorities. management globally such as Kenya, India, Brazil, France, Germany, England, Hong Kong, Spain... due to concerns about data privacy, as well as security issues.

Two months ago, the project also caused controversy when it announced plans to sell tokens to investors outside the US, with the intention of increasing WLD's circulating supply by 19% within the next 6 months.

Worldcoin's last-minute decisions to adjust tokenomics are being criticized by many KOLs in the cryptocurrency community as intentionally manipulating the price of WLD to keep the FDV of this project sky-high, thereby benefiting investors and investors. development team.

Dropping my most extensive research piece on Worldcoin to date. With insider unlocks just 8 days away, I encourage you all to give it a read and stay informed. https://t.co/5668JzlnUc— DeFi^2 (@DefiSquared) July 17, 2024

Prioritizing simplicity: allowing insiders to continue profit off your scam token while larping as if you build tools for humanity. https://t.co/gXHBY3vLdA pic.twitter.com/bFFwy1Caui— ZachXBT (@zachxbt) July 17, 2024