Worldcoin, known for its controversial biometrics project, has shifted course in its reward strategy. is transitioning to paying By issuing operator rewards solely in WLD rather than stablecoins like USDC, Worldcoin hopes to enhance the reach of WLD, though this impacts its pricing.
Keypoints
- Starting in November, Worldcoin will compensate its Orb operators with WLD tokens exclusively, stepping away from USDC.
- This strategy shift is part of Worldcoin's broader plan to widen the distribution of WLD.
- At present, individuals and businesses in the US and other restricted zones cannot access WLD tokens.
- Worldcoin has extended and adjusted a loan of 100M WLD to market makers, initially expiring on Oct 24th, now postponed to Dec 15th and reduced to 75M.
- As part of a new agreement, market makers will return or redeem 25M of the WLD loan.
- This modification in loan repayment schedules may potentially decrease the available WLD supply by up to 25M on Oct 24th.
- The introduction of WLD rewards initially caused a 4% decline in the token's price due to an increase in circulation.
Starting in November, Worldcoin The organization is phasing out USDC rewards in favor of WLD, rewarding those maintaining its iris-scanning orbs, as part of its goal to expand token reach.
However, due to regulatory obstacles, WLD is not yet accessible to users in America and some other regions. The token's value dropped by about 4% as more units hit the market.
Worldcoin disclosed it would prolong yet scale down WLD loans for market makers, initially set to end in October. This could see a reduction of the token's circulating amount by up to 25 million during December repayments.
Despite being crucial for its expansion, these actions have stirred some fluctuations in WLD's performance, already stressed since its July mainnet debut. Challenges remain as Worldcoin faces bans in multiple nations due to its iris scanning.
Worldcoin is relentless in its pursuit of widespread token adoption, even coping with some immediate setbacks. Despite ongoing regulatory challenges, the project is advancing with plans to establish a global identity infrastructure via blockchain technology, driven by WLD rewards.
