Worldcoin has announced a shift in its payment method for Orb Operators, those responsible for scanning individuals’ eyes. The company plans to phase out the use of USD Coin (USDC) and transition to exclusively paying Orb Operators in its native Worldcoin (WLD) token. This change will take effect as early as November.
Transition Phase After Official Launch
Also, Worldcoin clarified that this shift is part of a transitional phase following the official launch of the project on July 24. The company initiated a pilot program on Oct. 10, granting select operators payment in WLD tokens.
“As of November 2023, the Worldcoin Foundation expects that the transition process will be completed, ensuring that all Operators will receive WLD going forward,”stated the announcement.
Also, it’s worth noting that Worldcoin tokens are currently unavailable to individuals or companies residing in the United States and certain other restricted territories, as highlighted in a blog post by Worldcoin.
WLD Token Supply Growth and Adjustment in Market Maker Loans
According to data from Dune Analytics dashboard, the supply of the WLD token has increased from around 100 million at the time of launch to approximately 134 million at the time of this publication.
Out of the 134 million WLD tokens issued, 100 million were distributed as loans to market makers. The remaining 34 million were further allocated to Orb operators and new users through “free user grants.”
Furthermore, Worldcoin provided details regarding the 100 million WLD loans issued to market makers, originally set to expire on Oct. 24, 2023. However, the company decided to extend the expiration date to Dec. 15, with a reduced amount of 75 million WLD.
According to the announcement, market makers have the option to return or purchase the remaining 25 million WLD as part of the agreement.
WLD Token Price Movement
Notably, the native WLD token experienced fluctuations in its price, reaching an all-time high of $2.65 on July 27. Subsequently, it faced a 63% decline, hitting a low of $0.97 on Sept. 13. As of the latest data from TradingView, the WLD token is currently valued at $1.64. This signifies signs of a recovery in recent weeks.