Worldcoin, a digital currency project, recently declared its decision to switch its payment mode for Orb Operators from USD Coin (USDC) to its native Worldcoin (WLD) token. This change is expected to take effect as early as November. Orb Operators, independent participants responsible for scanning people’s irises in exchange for WLD tokens, will be exclusively compensated in WLD going forward, as part of the project’s transition phase after its official launch on July 24.
The Worldcoin Foundation, in an announcement on October 22, emphasized that this change will impact most jurisdictions. However, it highlighted that the WLD tokens are currently not accessible to individuals or entities in the United States and certain other restricted regions.
Data from Worldcoin’s Dune Analytics dashboard indicates that the WLD token supply has increased from around 100 million at the time of its launch to approximately 134 million at present.
Out of the 134 million WLD tokens in circulation, 100 million were lent to market makers, with the loans originally set to expire on October 24, 2023. However, Worldcoin has extended the expiration date to December 15, reducing the amount to 75 million WLD. The announcement mentioned that the market makers have the option to return or purchase the remaining 25 million tokens as part of the agreement.
The price of the native WLD token experienced fluctuations post-launch, hitting an all-time high of $2.65 on July 27 before plummeting to $0.97 on September 13, representing a 63% decrease. Currently, the token is trading at $1.64, showing some recovery in recent weeks.
In the light of these changes, Worldcoin continues to adjust its operations, aligning with its mission and vision for the future.
