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Worldcoin, the human-verification crypto project co-founded by OpenAI CEO Sam Altman, has revealed that early contributors to its efforts will begin to see their WLD tokens unlock starting next week.
Extended Worldcoin Unlock Schedule for Team and Investors
In a recent blog post, Worldcoin shared that “WLD tokens allocated to the investors and team members of Tools for Humanity (TFH), early contributors to the Worldcoin project, are scheduled to begin unlocking daily in a linear fashion.”
The statement continued, “This week, TFH informed the Worldcoin Foundation that—in a move aligned with the long-term nature of Worldcoin’s mission—the unlock schedule for 80% of the WLD held by TFH’s team members and investors is being extended from 3 to 5 years.”
The impact of this announcement was reflected in the market, with the WLD token surging over 22%, reaching $2.44.
$WLD tokenomics change, TL;DR Investor vest extended to 5 years from 3. Cliff unchanged. Announcement blog page still down, but visible in the docs:https://t.co/hx8TBqgEVR https://t.co/j8inD3rH5Y pic.twitter.com/yyVwugP6Ql — DeFiyst (@DeFiyst) July 16, 2024
Tools for Humanity, the lead developer and main proponent of the Worldcoin project, plays a crucial role in this initiative. The project assigns World IDs and tokens to individuals who verify their humanity by submitting to an iris scan conducted by an orb device. Alex Blania, CEO of Tools for Humanity, co-founded Worldcoin alongside Altman, driving the project’s vision forward.
According to the blog post, the tokens allocated to Tools for Humanity’s investors and team members are locked in recognition of their respective contributions. The update emphasizes that “WLD grants for verified World ID holders are not affected,” highlighting that “more than 211 million WLD have been claimed by World ID holders, representing more than 77% of the 275 million WLD currently in circulation.”
Community Pool and Long-Term Sustainability
Worldcoin further noted that “7.22 billion WLD remain in the Worldcoin Community pool, which is administered by the Worldcoin Foundation and its affiliate entity World Assets Ltd for the purpose of supporting the long-term sustainability of the Worldcoin project.”
As the tokens start unlocking next week, they will begin to enter the circulating supply of WLD. This development is a crucial milestone for the Worldcoin project, as it continues to advance its mission of creating a global digital identity network and expanding its user base.
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