Worldcoin team unlocks 2,38 billion native tokens over four years

What’s new? On July 24, the process of unlocking native tokens of the Worldcoin (WLD) project owned by investors and employees of developer Tools for Humanity (TFH) will be launched. In total, they have been allocated 2,38 billion WLD worth about $5,5 billion at the current exchange rate.

Source: X.com

What else is known? The coins will be phased out of the blockchain over the next four years. The linear mechanism involves unlocking 1,63 million coins every day. In preparation for the start of the process, the team transferred 990 million coins to the new address and distributed 494 million WLD to 222 addresses.

Earlier, Worldcoin said that the full unlocking cycle for 80% of developers’ and investors’ tokens has been increased from 3 to 5 years. Thanks to this change, unlocking will be completed by the end of July 2028, five years after the launch of the protocol.

At the same time, the majority of all WLD tokens will be issued to regular project participants for passing identification through retinal scans with Orb devices in the company’s physical offices around the world and receiving a digital World ID. Grant programs are also unaffected by the change.

According to the team, more than 6 million confirmed members have already joined the network, and most of the WLD came into circulation through them. Thus, by mid-July, World ID owners had received more than 211 million WLD, which is more than 74% of the volume of coins in circulation.

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To date, 7,22 billion WLD remains in the community pool, managed by the Worldcoin Foundation NPO and affiliated organization World Assets, to support the long-term sustainability of the project.

The developers emphasize that they aim to make the project the world’s largest identity and financial network:

“If successful, the network will become the key infrastructure needed for a world where artificial intelligence plays an increasingly important role.”

WLD ranks 116th in the overall cryptocurrency ranking by market capitalization with a market cap of $653,3 million and is trading at $2,3, having lost 4,9% overnight. The weekly drop was 5,5% and the asset has lost 37% since the beginning of the year.