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World Coin lived a substantial price increase of 40% following an announcement from Tools for Humanity (TFH) regarding an extension of token lock-up periods for early contributors.
What happened:This news has sparked renewed interest in World Coinwhich aims to create a global financial identity and network.
According to a recent blog post by the Worldcoin Foundation, TFH has informed them that the timeline for unlocking 80% of WLD tokens held by TFH team members and investors will be extended from 3 to 5 years.
This decision aligns with the long-term vision of the Worldcoin project and has been well received by the market.
The initial unlocking schedule was scheduled to begin on July 24, 2024, with tokens becoming available daily in a linear fashion over two years.
Under the new plan, while the first year remains unchanged, the subsequent release will be more gradual over four years, ending at the end of July 2028.
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Why is this important?:This expansion is expected to have a significant impact on WLD’s circulating supply.
The daily unlock rate will decrease from approximately 3.3 million WLD to 2 million WLD, slowing the rate at which new tokens enter the market by approximately 40%.
It is important to note that this change does not affect WLD grants for verified World ID holders, which make up the majority of tokens in circulation.
At the time of announcement, over 211 million WLDs have been claimed by World ID holders, representing over 77% of the 275 million WLDs currently in circulation.
The Worldcoin project, with over 6 million unique humans participating in its network, continues to focus on its mission to become the world’s largest identity and financial network.
The project highlights the importance of proving human uniqueness in an era of growing AI influence.
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