WLD soars 18% as Worldcoin extends token lock-up for early contributors

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As a seasoned financial analyst with over a decade of experience in the crypto market, I have witnessed numerous projects come and go. With each new announcement, I approach it with a healthy dose of skepticism and a deep understanding of the underlying dynamics at play.

Early contributors to the Worldcoin Foundation through Tools for Humanity will now keep their tokens locked up for a longer period, extended from three years to five years.

Tools for Humanity, the organization behind Worldcoin’s development, has informed the Worldcoin Foundation about a new extension, reaffirming their dedication to the project’s longevity. As mentioned in a blog post on Tuesday, most WLD tokens will be distributed to individuals just for being unique humans. So far, more than 211 million WLD have been claimed by World ID holders, which represents 77% of the current 275 million WLD in circulation.

WLD soars 18% as Worldcoin extends token lock-up for early contributors

Currently, approximately 7.22 billion Worldcoin (WLD) tokens are held in the Worldcoin Community pool, managed by both the Worldcoin Foundation and its affiliate company, World Assets Ltd, to ensure the longevity of the Worldcoin project.

Following the announcement, the price of WLD surged by 18% to $2.36.

Starting July 24, Tools for Humanity’s investors and team members will still receive around 2 million WLD tokens every day, despite the prolonged token release schedule. This is approximately 40% less than the initially intended 3.3 million tokens per day.

Based on my extensive experience in the blockchain industry and having closely followed the developments of various projects, I believe that this adjustment is a prudent measure taken by the project team to maintain stability. By slowing down the expansion of the circulating supply, they aim to prevent excessive inflation and ensure long-term sustainability.

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2024-07-16 18:38