Worldcoin will transition from paying its Orb Operators in USD Coin (USDC) to its own native token, Worldcoin (WLD), starting in November. Orb Operators are individuals who scan people’s irises in return for WLD tokens. This decision to switch payment methods was announced on October 22 and will be effective in most areas.
The move to WLD as the payment for Orb Operators is described as a “transitional phase” since Worldcoin’s official project launch on July 24. A pilot program to start this payment transition began on October 10.
It’s important to note that the WLD tokens are not available for individuals or businesses residing in the U.S. and some other restricted regions. Since the project’s launch, the supply of WLD has increased from 100 million to about 134 million. From this, 100 million were loaned to market makers, while the remaining 34 million were awarded to Orb Operators and new users.
Worldcoin had initially given out loans of 100 million WLD to five market-making entities, set to end on October 24, 2023. But this expiration date has been pushed to December 15, with the loan amount reduced to 75 million WLD. The market makers have the option to return or buy a portion or all of the remaining 25 million WLD as per the agreement.
In terms of value, after reaching its peak at $2.65 on July 27, WLD’s price dropped 63%, settling at $0.97 by September 13. However, it has since recovered somewhat, currently trading at $1.64, based on data from TradingView.
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