Worldcoin’s Paradigm Shift
Exciting news from the Worldcoin Foundation! They’ve just revealed a groundbreaking shift in their payment system for orb operators. These skilled individuals play a crucial role in enrolling new participants into the Worldcoin network by scanning their eyes. What’s the game-changing update? Instead of receiving traditional USDC stablecoins, these operators will soon be rewarded with the innovative and intriguing WLD tokens. It’s a shift that promises to revolutionize the way they’re compensated and adds an exciting twist to the Worldcoin experience. Stay tuned for more on this compelling development!
The Worldcoin Foundation is making a change in how it compensates orb operators, who assist in enrolling individuals into the Worldcoin network. Instead of using USDC stablecoins, the foundation will soon pay them in WLD tokens. The transition is expected to be completed by the next month, as per the foundation’s recent announcement, which is not visible to users in the United States.
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The foundation has also provided an update on the circulating supply of the WLD token, which has now exceeded 1% of its total supply of 10 billion tokens. Out of the roughly 134 million WLD tokens in circulation, 100 million were provided as loans to market makers, while 34 million have been distributed to users and orb operators in the form of grants.
With the loan agreements set to expire on October 24, Worldcoin has declared that these agreements will be renewed until December 15 of this year, albeit with a reduced amount of 75 million tokens. Market makers will either return or purchase some or all of the remaining 25 million tokens as part of this arrangement.
Despite encountering “operational challenges” noted by Sam Altman, one of the co-founders of Worldcoin and well-known for founding OpenAI, the company behind ChatGPT, the token grants from Worldcoin seem to be growing with respect to time, following an initial period of enthusiastic adoption.
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