cryptonews.net
Worldcoin’s WLD token surged 40% on Wednesday following the announcement of an extended lock-up period for investors and team members. At the time of writing, the Worldcoin price has reached $3.13, marking a 45% increase since yesterday, according to data from Coingecko. This is the highest price WLD has reached in a month. Tools for Humanity (TFH), a key player in the initial development of Worldcoin, announced that the timeline for unlocking 80% of WLD tokens allocated to investors and team members will be extended from three to five years.
The original plan allowed for the WLD tokens to start unlocking on July 24, 2024, marking the first anniversary of the Worldcoin protocol launch. The original schedule would have unlocked tokens daily over a two-year period and concluded by July 2026. However, the new plan extends this period, with the tokens unlocking daily over four years, ending by July 2028.
The extension currently affects approximately 2 million WLD tokens held by investors and TFH team members, reducing the daily unlock rate by approximately 40% from the original 3.3 million WLD per day. The Worldcoin Foundation emphasized that this change will not affect grants for verified World ID holders. In its recent press release, the fund highlighted that there are more than 211 million WLD tokens claimed to be World ID holders, representing more than 77% of the 275 million WLD tokens in circulation.
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