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Worldcoin, a prominent cryptocurrency venture, recently unveiled its plans to pay its Orb Operators, responsible for iris-scanning processes, using its in-house Worldcoin (WLD) token. This strategic shift implies moving away from the USD Coin (USDC) payments starting from November. This payment transformation will predominantly impact multiple jurisdictions globally.
This modification in the payment method aligns with Worldcoin's strategies post its official inauguration on July 24. By October 10, the Worldcoin Foundation began an experimental initiative that permitted a select group of operators to receive compensations in WLD tokens. Consequently, by November 2023, the Foundation anticipates the comprehensive shift wherein all Orb Operators will be compensated exclusively in WLD tokens.
However, it's pivotal to note that individuals or corporate entities based in the US and some other specified regions currently cannot access Worldcoin tokens.
Worldcoin's recent data, as sourced from its Dune Analytics dashboard, indicates that the WLD token's circulation has surged from an initial 100 million to about 134 million currently. This token distribution comprises 100 million that were channeled as loans to entities involved in market-making, while the residual 34 million was disbursed to both Orb Operators and novel users, recognized as “free user grants.”
Diving deeper, Worldcoin disclosed that these 100 million WLD tokens loaned to five distinct market-making entities were originally slated to culminate on October 24, 2023. Nevertheless, an adjustment in this plan has extended this deadline to December 15, with the total count reduced to 75 million WLD. In agreement with the original plan, these market makers have the choice to either repay or acquire some or the entire outstanding 25 million.
Interestingly, after experiencing a dip post its launch, the value of the WLD token has seen a subtle resurgence in the past few weeks. Many financial analysts speculate this could be a direct outcome of the firm's shift in its payment structure.
Furthermore, this move solidifies Worldcoin's faith in its native token, projecting a more robust image to potential investors and users. With the cryptocurrency market being highly volatile, only time will reveal the long-term implications of this pivotal change.
