Worldcoin Makes Changes in Compensation and Loan Structure; Growth Incoming?

In a recent update, Worldcoin announced its plans to start rewarding its Orb Operators differently. They will now receive the native Worldcoin (WLD) token as a reward for scanning people’s irises, and this shift from using USD Coins is set to begin as early as next month.

WorldCoin, also known as WLD/USD Coin, made its official debut on July 24, 2023, and quickly grabbed the attention of the public. This launch was so successful that almost 800,000 new and existing Orb-verified users have claimed about 34 million WLD tokens through free user grants. The supply of WLD tokens has increased steadily from about 100 million to just over 134 million, which represents 1.34% of the total supply of 10 billion tokens.

Change in Reward Structure

Starting on October 22, Worldcoin declared that it would stop paying independent operators who scan irises in exchange for USDC tokens, beginning in November. Operators will now receive their compensation exclusively in WLD tokens. This sudden shift is a significant step after the project’s official launch in July. Additionally, the Worldcoin Foundation has set up a pilot program on October 10, where selected operators will be paid with WLD tokens instead of USDC.

Also Read: Worldcoin Price Prediction 2023 – 2030: Will WLD Price Surge Above $10 by 2025?

Renewed Agreements

Worldcoin’s subsidiary, World Assets Ltd., has decided to revise its loan agreements with five market makers. The aim of this change is to reduce the loan amount from the original 100 million WLD to 75 million WLD. This adjustment will be in effect until December 15, 2023. The initial purpose of these agreements was to ensure enough tokens for WLD trading on centralized exchanges outside the United States, to boost price discovery, and enhance the stability of the token’s market price.

To reduce the loan amount, market makers have agreed to return 25 million WLD tokens on or before October 24th. Furthermore, they have the option to purchase tokens up to the total loan amount to be returned. This move will subsequently decrease the circulating supply of WLD tokens based on the number of tokens acquired by the market makers.

Worldcoin’s Climb to the Top

In a well-thought-out plan, Worldcoin is in the process of transitioning to a compensation structure that relies on WLD tokens rather than USD coins for its Orb Operators. Simultaneously, it’s reevaluating its loan agreements with market makers to improve liquidity and price stability. These dynamic adjustments are designed to drive growth for the cryptocurrency and its ecosystem.

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