In a significant development from Worldcoin, the organization has unveiled plans to boost the circulating supply of its WLD tokens to cater to the increasing demand for its orb-verified World IDs and further the extension of its network. The announcement was made on the Worldcoin blog, highlighting the strategies set forth by World Assets Ltd, a branch under the Worldcoin Foundation, dedicated to managing the proceedings of this new phase.
At present, the circulation comprises 193 million WLD tokens, which have been distributed among over 5 million individuals who obtained their World IDs through the project’s innovative orb technology. These individuals are spread across more than 160 countries, showcasing Worldcoin’s broad and global acceptance. To add to the circulating supply, World Assets plans on engaging in private placements specifically with institutional trading firms. Notably, these sales will be exclusive to those operating outside the United States, adhering to regulatory compliance and aiming to prevent the influx of these tokens back into the U.S. marketplace.
The outlined sales strategy includes a timeline stretching up to 6 months, wherein several measures, such as restricting the resale of WLD tokens within the United States and possibly imposing a 40-day lock-up period on trading firms, will be employed. These measures are put in place to ensure that the tokens remain within the bounds of legal and commercial frameworks while simultaneously working towards the project’s goals.
In an effort to maintain market stability and ensure fair pricing for the WLD tokens, World Assets intends to foster competition among several trading firms. This competitive approach is expected to help Worldcoin secure deals at prices that are in alignment with the prevailing market rates, taking into consideration the restrictions mentioned earlier.
Under the current market conditions, World Assets has projected an average weekly sale of 0.5 million to 1.5 million WLD tokens. This range translates to a minor increase in circulating supply, accounting for less than 0.1% to 0.4% of the weekly trading volume of WLD tokens. This cautious approach reflects Worldcoin’s commitment to maintaining a balanced and sustainable market for its digital assets.
It is crucial for potential investors and users to note that the plans detailed by World Assets are subject to change, as iterated in the disclaimer of the Worldcoin Whitepaper. The involvement with cryptocurrency and tokens like WLD is accompanied by certain risks, and interested parties are advised to thoroughly review the Important User Information provided on the Worldcoin website.
Moreover, the distribution of Worldcoin’s WLD tokens will be geographically restricted, with territories such as the United States and other specific regions being excluded. Despite these restrictions on the token’s availability, Worldcoin ensures that their World ID, the World App by TFH, and other functionalities within its ecosystem will remain accessible to users in the United States.
For those interested in following Worldcoin’s journey and updates closely, subscribing to the Worldcoin newsletter through their official website is suggested. This move marks a strategic effort by Worldcoin to expand its network and meet the growing demand for its services, highlighting its innovative approach to integrating blockchain technology and digital identity verification on a global scale.
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