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Since its launch, the Worldcoin (WLD) project has been criticized due to privacy concerns. As the worldwide eye scans continue, an important development has occurred. The Worldcoin Foundation announced that it will start making payments to orb operators who help people scan their eyes to join the Worldcoin network with the WLD token instead of the leading stablecoin USD Coin (USDC).
Worldcoin Replaces USDC with WLD
The Worldcoin Foundation, responsible for managing the Worldcoin project, which has been the target of criticisms due to data privacy concerns, announced that soon, payments to orb operators who help users scan their eyes to join the network will be made in WLD instead of USDC.
The Worldcoin Foundation plans to complete the transition of payments from USDC to WLD for orb operators by next month, which cannot be seen by users in the United States. Currently, orb operators receive payments in the second-largest stablecoin, USDC, in exchange for the eye scans they perform.
Current Circulating Supply of WLD Token
The Worldcoin Foundation also provided an update on the circulating supply of the WLD token, which exceeds 1% of the maximum token supply of 10 billion. Approximately 134 million WLD tokens were issued, with 100 million tokens credited to market makers as loans, and 34 million tokens distributed as grants to users and orb operators.
With the maturity of the loans on October 24th, Worldcoin announced that the loan agreements will be renewed by reducing the token supply by 75 million tokens until December 15, 2023. These tokens will either be returned to market makers or bought back by acquiring 25 million tokens or the remaining portion as part of the agreement.
Despite the “operational challenges” mentioned by Sam Altman, the co-founder of Worldcoin and the company behind the viral AI chatbot ChatGPT, the token grants of Worldcoin seem to be increasing steadily over time after the initial exaggerated adoption.