Tools for Humanity Extends Unlock Schedule for 80% of Worldcoin WLD Tokens

Tools for Humanity (TFH), the developer behind the Worldcoin project, has announced changes to its native token unlock schedule.

Decentralized identity (DID) protocol Worldcoin has announced changes to the unlock schedule for its native token (WLDUSD). 80% of WLD tokens held by team members and investors will now become accessible over a five-year span, starting on July 24, 2024, rather than the previous three-year period.

The decision was disclosed to the Worldcoin Foundation on July 15 and is intended to align with the protocol’s long-term vision, according to a July 16 blog post.

The remaining tokens will unlock progressively over the following four years, concluding by the end of July 2028.

The adjustment to the token unlock schedule aims to ensure that a smaller portion of tokens is released into the market immediately. This measure could help prevent a sudden increase in supply that might lead to a decrease in the token’s price.

At the time of writing, WLD is experiencing a nearly 20% increase in value, possibly driven by the news of the extended unlock period.

Worldcoin, co-founded by OpenAI’s Sam Altman, is known for its “World ID” concept, a digital identity verification system. To obtain a Worldcoin ID, users have their irises scanned by a device called an “Orb.”

According to the Worldcoin Foundation, as of April 2024, the World App had over 10 million registered users.

The majority of WLD tokens in circulation are currently held by these registered users with an orb-verified World ID. Since its launch in July 2023, more than 211 million WLD tokens have been claimed by World ID holders, out of the 275 million WLD currently in circulation.

The Worldcoin Community pool also holds a significant amount of WLD tokens, valued at $7.22 billion, according to the foundation.

Worldcoin has faced criticism and regulatory scrutiny due to concerns over privacy and data security regarding the use of biometric data from iris scans. In recent months, the project has been subject to regulatory actions in several countries.

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