Worldcoin (WLD) Experiences 40% Price Increase After TFH Extends Token Lockup Periods

Worldcoin WLD/USD has experienced a substantial 40% price increase following an announcement by Tools for Humanity (TFH) regarding an extension of

Worldcoin (CRYPTO: WLD) has seen its price rally as much as 40% following an announcement by Tools for Humanity (TFH) regarding an extension of token lockup periods for early contributors to the project.

What Happened: According to a recent blog post by the Worldcoin Foundation, TFH has notified them that the unlock schedule for 80% of the WLD tokens held by TFH's team members and investors will be extended from three to five years.

This decision has been made in alignment with the long-term vision of the Worldcoin project and has been met with enthusiasm in the market.

The original unlock schedule was set to commence on July 24, 2024, with tokens being unlocked daily in a linear fashion over two years.

Under the new plan, while the first year remains unchanged, the subsequent unlocking will occur more gradually over four years, concluding by the end of July 2028.

“This decision reflects TFH's deep alignment with and commitment to the long-term success of Worldcoin. It also follows feedback from the community and the market, which have expressed a strong preference for a slower unlock,” the foundation said in the blog post.

"We believe that this slower unlock will ultimately benefit all stakeholders in the Worldcoin ecosystem, including early contributors, World ID holders, and the project itself."

This extension is expected to have a significant impact on WLD's circulating supply. The daily unlock rate will decrease from approximately 3.3 million WLD to 2 million WLD, effectively slowing the rate at which new tokens enter the market by about 40%.

It's important to note that this change does not affect WLD grants for verified World ID holders, which constitute the majority of tokens in circulation. As of the announcement, more than 211 million WLD have been claimed by World ID holders, representing over 77% of the 275 million WLD currently circulating.

The Worldcoin project, which boasts more than six million unique humans participating in its network, continues to focus on its mission of becoming the world's largest identity and financial network.

The project emphasizes the importance of proving human uniqueness in an era of increasing artificial intelligence influence.

"As we approach the next phase of growth for Worldcoin, we remain committed to building a sustainable and inclusive ecosystem that empowers individuals around the globe," the foundation said.

Worldcoin Price Action: At the time of writing, WLD is trading at $0.83, up 39.76% during the past 24 hours and down 95.3% year-to-date.

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