Sam Altman's Worldcoin To Pay Orb Operators in WLD Tokens

Sam Altman’s Worldcoin To Pay Orb Operators in WLD Tokens

Updated: 23 October 2023

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Sam Altman’s Worldcoin Foundation will shift payments to orb operators from USD Coin (USDC) stablecoins to Worldcoin (WLD) tokens.

The foundation announced the plan on Oct. 22 and said the change will come into effect next month

Worldcoin’s Orb Operators have been integral to the project’s mission of verifying individuals’ identities by scanning their irises.

It began transitioning to the new arrangement with a pilot program on Oct. 10, when select operators started receiving rewards in WLD tokens.

Growing Circulation of Worldcoin Tokens

Worldcoin’s native token, WLD, is experiencing steady growth in circulation. According to data from Worldcoin’s official Dune Analytics dashboard, the supply of WLD tokens has expanded from approximately 100 million at the time of launch to around 134 million at the time of publication.

This growth is in part due to the distribution of WLD tokens to Orb operators and users in the form of grants, according to the statement.

Out of the approximately 134 million WLD tokens distributed so far, 100 million were provided as loans to market makers, while the remaining 34 million were granted to Orb operators and new users.

Circulating supply over time, since July 24, 2023 (Source: Dune

To enhance circulation of WLD Tokens, Worldcoin said, the majority of WLD token supply will be given to new and existing users in the form of user grants over the years to come.

Market Challenges And Loan Extension

Despite the challenges Worldcoin has faced from regulators and privacy advocates, the project appears to be steadily growing.

Regarding the loans provided to market makers, Wordcoin highlighted that a total of five entities received 100 million WLD loans, initially set to expire on October 24, 2023.

Worldcoin has now decided to extend the expiration date of these loans to December 15, albeit with a reduced amount of 75 million WLD. Market makers have the option to either return the tokens or purchase the remaining 25 million as part of the agreement.

While the transition to WLD tokens for Orb Operators is a significant step, they are currently not available to individuals or companies residing in the US and “certain other restricted territories,” according to the statement.

Worldcoin (WLD) Token Price Fluctuations

The price of Worldcoin’s native WLD token has exhibited some volatility in recent months. It reached an all-time high of $2.65 on July 27, only to fall by 63% to a low of $0.97 on September 13. Currently, it is trading at $1.51 down by 5.84% in the last 24 hours, according to CoinMarketCap.