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In a recent post update, Worldcoin said it is all ready to start paying its Orb Operators.
The reward is for scanning people’s eyes with its native Worldcoin (WLD) token, phasing out USD Coins as early as next month.
WorldCoin, or WLD/USD Coin, launched on July 24, 2023, attracted everyone’s attention as soon as it was launched. Nearly 800,000 new and existing Orb-verified users have claimed around 34 million WLD in free user grants. Its circulating supply has grown steadily from around 100 million to just above 134 million WLD, or 1.34% of the 10 billion total supply.
Replacement of Orb Operator Payments to WLD Tokens!
According to the declaration made by October 22, Worldcoin will stop paying independent operators who scan people’s iris in exchange for tokens in USDC currency starting in November. Instead, they will be paid in the form of WLD tokens only. This sudden modification is part of a transitional phase following the project’s official launch in July. The Worldcoin Foundation also plans a pilot program on October 10 to grant selected operators payment in WLD tokens instead of USDC.
Market Makers Renew Agreements with Low Loan Amounts!
A subsidiary of the Worldcoin Foundation, World Assets Ltd., has determined to resume its loan agreements with five market makers until December 15, 2023, which aims to reduce the loan amount to 75 million WLD instead of the original 100 million WLD. The agreements were put in place to guarantee liquidity for WLD traded on centralized exchanges outside the US, promote price discovery, and improve the price stability of WLD.
The market makers will return 25 million WLD of the currently outstanding loan, or on October 24th, they may purchase any amount of tokens up to the loan amount to be returned. This will reduce the WLD circulating supply based on the tokens purchased by the market makers.
Wolrdcoin is implementing a strategy to transition to paying its orb operators in WLD tokens instead of USD coins and lowering its loan amounts to market makers to enhance liquidity and stability. These modifications aim to drive evolutionary growth for the cryptocurrency and its ecosystem.