Worldcoin Foundation Transitions to Pay Orb Operators in WLD Tokens

The Worldcoin Foundation team claims that there has been a significant change to the payment method for Orb operators. Instead of the USDC stablecoin, orb operators will henceforth be compensated in the native tokens of the cryptocurrency project WLD. The Worldcoin project is entering a critical phase of transition with this shift in payment choices.

Following the official launch of the Worldcoin project on July 24th, the transition to paying Orb operators entirely in WLD tokens started soon after. By November 2023, the team expects this transition process to be finished, ensuring that all Operators will continue to get WLD as their wage going forward.

Understanding Worldcoin

A cryptocurrency project called Worldcoin seeks to create a global database of personal identity numbers. They provide an innovative method of doing this by allowing individuals to have a “orb,” a specialized device, scan their iris. The persons in charge of collecting these iris photos are known as orb operators.

It’s important to keep in mind that WLD tokens are now unavailable to US citizens, some businesses, and those who reside in specific restricted areas. This restriction is essential in light of the project’s goals and continuing growth.

Since its launch on July 24, the number of WLD tokens has grown substantially. Dune Analytics records show that as of the time this article was written, the total supply has climbed from roughly 100 million tokens to about 134 million. This increase is a result of growing interest in and engagement in the Worldcoin project.

Of the 134 million WLD tokens that have so far been produced, 100 million have been distributed as loans to market makers. The remaining 34 million tokens were given to Orb’s operators and new users as “free user grants.” Notably, five market makers were given 100 million WLD credits at the beginning, and they were set to expire on October 24, 2023. However, Worldcoin has decided to extend the maturity date of these loans to December 15th, but with a smaller sum of 75 million WLD.

This adjustment in the payment choices for Orb operators, together with the continual increase in the WLD token supply, highlights how the Worldcoin project is still in its early phases as it works to create a worldwide database of personal IDs while navigating operational and regulatory challenges.