The controversial biometrics project Worldcoin is transitioning to paying out rewards to its operators solely in its native WLD token rather than stablecoins like USDC. The move aims to boost WLD distribution but has also impacted its price.
Keypoints
- Worldcoin will start rewarding its Orb operators exclusively in its native WLD tokens rather than USDC stablecoins starting in November.
- This change is part of a “transitional phase” as Worldcoin shifts to broader WLD distribution.
- Currently WLD tokens are unavailable to people/companies in the US and some other restricted areas.
- Worldcoin extended loans of 100M WLD to market makers that were set to expire Oct 24th – now extended to Dec 15th but reduced to 75M WLD.
- Market makers will return or buy back 25M of the WLD loan amount as part of the agreement.
- This loan repayment adjustment may reduce WLD’s circulating supply by up to 25M on Oct 24th.
- The shift to WLD…
