Supported by OpenAI’s founder Sam Altman, Worldcoin announced in early November that payments in USDC to users would be terminated. Additionally, the company made changes to the terms of the credits offered to market makers for its own token, WLD.
Worldcoin is based on an identity protocol that uses iris scanning to identify individuals and prove their humanity. This is achieved with a specialized hardware unit called the Orb.
Payments are to be Made with WLD
Worldcoin announced some changes regarding its payment protocol. While payments were made in USDC (USD Coin) to Orb operators and independent ecosystem participants who verify through the iris recognition method, it has been announced that payments will now be made with their own token, WLD. This change will be implemented as of October 24. Payments made with the WLD token are expected to increase Worldcoin’s circulating supply in the market.
Regarding its token supply strategy, Worldcoin stated, “The WLD token was launched into the market with a relatively low circulating supply, slightly above 100 million WLD.” The company emphasized that the main reason for this approach is to create as broad a user network as possible. It is said that a significant portion of the WLD token supply will be donated to new and existing users in the coming years.