Worldcoin, a cryptocurrency venture focused on human identification, has announced a significant extension to its token unlock schedule for early contributors. Initially set for three years, the timeline for releasing 80% of the tokens held by Tools for Humanity’s investors and team members has now been extended to five years.
This modification aims to align with the long-term goals of the Worldcoin initiative which prioritizes simplicity believing it will help them build for every human.
Financial Impact and Community Response
Following this announcement, the value of Worldcoin’s WLD token experienced a notable increase, rising over 30% to reach $2.77 at press time. The overall crypto market is still struggling to gain momentum as the German government’s sell-off hasn’t even cooled down and Mt. Gox began to liquidate Bitcoins worth more than $5 Billion. The extension has helped Wld gain value in this volatile time.
Tools for Humanity, the primary developer of the Worldcoin project, oversees the unique system that awards tokens to individuals willing to have their eyeballs scanned to confirm their human identity.
Moreover, the Worldcoin Foundation has assured stakeholders that WLD grants for verified World ID holders remain unchanged. Over 211 million WLD tokens have been distributed to World ID holders, accounting for more than 77% of the currently circulating tokens.
Additionally, a substantial reserve of 7.22 billion WLD remains under the management of the Worldcoin Community pool, dedicated to sustaining the project’s future.
As the unlocking process commences next week, these tokens will gradually become part of the circulating supply, marking a pivotal development in the project’s progression. The extended unlock schedule is expected to support the stability and sustained growth of the Worldcoin ecosystem.
Also Read: Worldcoin Introduces World Chain Developer Preview for Mainnet
