Worldcoin extends WLD token unlocking to 5 years

Worldcoin just made a big change. The unlocking schedule for WLD tokens for about 80% of TFH investors and team members is now extended from 3 years to 5 years.

This starts on July 24. Each day, about 2 million WLD will be unlocked. That’s worth around 4.8 million dollars. This is 40% less than the previous daily unlocking of 3.3 million WLD.

Worldcoin said it wants to make sure that most WLD tokens go to people with verified World IDs. They get these tokens just for being unique humans.

So far, more than 6 million people are part of the Worldcoin network this way. These people have orb-verified World IDs, a digital passport proving they are human. This lets them take part in the Worldcoin network.

Tools for Humanity (TFH) helped start Worldcoin. They later handed over the protocol to the independent Worldcoin Foundation. TFH still helps out by offering services and running the World App, the first wallet that works with Worldcoin.

From the start in 2019, TFH’s investors and team members got WLD tokens for their contributions. These tokens were locked to let the protocol mature.

Originally, no transfers were possible for one year after the launch on July 24, 2023. After that, tokens would unlock daily over the next two years. This schedule would have ended by July 2026.

But now, TFH announced that the unlock schedule for 80% of these WLD tokens will be extended to five years. The first year remains the same with no transfers.

After that, the tokens will unlock daily over four years. This means these tokens will fully unlock by July 2028. As of today, Worldcoin said there are 7.22 billion WLD tokens in the Worldcoin Community pool.

This pool is managed by the Worldcoin Foundation and World Assets Ltd. They use these tokens to support the long-term sustainability of Worldcoin.

Worldcoin wants to become the world’s largest identity and financial network. They want to give ownership to everyone. The network is designed to be key infrastructure in a world where AI is more important.

More than 6 million people already have an orb-verified World ID. They have claimed over 211 million WLD, which is more than 77% of the 275 million WLD in circulation.

The Worldcoin Foundation made this change to align with the long-term nature of their mission. They believe this more gradual unlock schedule is better for the project and its community.

The Worldcoin Foundation says that WLD grants for verified World ID holders are not affected by this change.