Worldcoin, the identity protocol backed by OpenAI founder Sam Altman, has recently announced changes to its operator rewards and circulating supply of WLD tokens. Starting October 24, operator rewards will transition from USDC stablecoins to WLD tokens, with the aim of increasing the tokens’ circulating supply in the open market.
Worldcoin’s Strategy for WLD Token Distribution
Initially, the WLD token was launched with a relatively low circulating supply of just above 100M WLD. However, Worldcoin has plans to distribute the majority of the token supply to new and existing users in the form of user grants over the years to come. This strategy aligns with their goal of creating a network that includes as many human beings as possible.
Worldcoin’s Identity Protocol and the Orb
Worldcoin’s identity protocol makes use of a hardware unit called an Orb. This device scans individuals’ irises to verify their identities as human beings. The technology has broader implications for the crypto and artificial intelligence (AI) ecosystems as they become more integrated into society.
Users who have been verified by the Orb can claim WLD tokens through the project’s app, where regulations permit. Previously, Orb operators were compensated with USDC tokens for each iris scan they performed. The exact amount these operators earn per scan is unclear.
Changes to Operator Rewards and Circulating Supply
The transition from USDC stablecoins to WLD tokens for operator rewards aims to increase the circulating supply of WLD tokens in the open market. This move demonstrates Worldcoin’s commitment to expanding its user base and integrating its identity protocol into various sectors.
In the past 24 hours, the price of WLD tokens has experienced a decline of nearly 6%, reaching $1.48. Despite this short-term price fluctuation, the changes to operator rewards and the circulating supply of WLD tokens are expected to contribute positively to the long-term growth and adoption of Worldcoin’s identity protocol.
Broader Implications of Worldcoin’s Identity Protocol
The Worldcoin identity protocol, with its innovative use of the Orb for iris scanning, has the potential to revolutionize the way individuals prove their identities in various sectors. By ensuring that only human beings can access the network, Worldcoin’s identity protocol can help prevent fraud and other malicious activities in the crypto and AI ecosystems.
Moreover, the distribution of WLD tokens to users who have been verified by the Orb could encourage greater participation in the Worldcoin network. By offering operator rewards in the form of WLD tokens, Worldcoin is incentivizing more users to join the network and contribute to its growth.
Conclusion
In conclusion, the changes to Worldcoin’s operator rewards and circulating supply of WLD tokens demonstrate the project’s commitment to expanding its user base and integrating its identity protocol into various sectors. By increasing the circulating supply of WLD tokens and offering operator rewards in the form of WLD tokens, Worldcoin aims to encourage greater participation in the network and foster long-term growth.
As the Worldcoin identity protocol continues to develop and gain traction, it will be interesting to see how the technology is adopted and integrated into various industries. With its innovative approach to verifying human identities, Worldcoin has the potential to make a significant impact on the crypto and AI ecosystems.
