Tools for Humanity (TFH), the developer behind Worldcoin, has extended the lock-up period for WLD tokens allocated to team members and investors.
Worldcoin (WLD) has altered its token distribution plan, extending the lock-up period for tokens allocated to the team and investors. This strategic decision will now see 2 million WLD tokens released daily, beginning July 24, 2024.
Initially, the schedule projected the daily release of 3.3 million tokens. However, this adjustment aims to lessen market saturation and support the token’s value.
“Looks like WLD is getting shorted hard after the news that token unlocks will be spread out over a longer time period,” noted HumaCapital.
This lock-up period extension, from three to five years for 80% of the tokens, is designed to bolster the stability of the Worldcoin ecosystem. The unlocking process will now take place over four years, concluding in July 2028, with the vesting schedule continuing until 2029.
In an exclusive report shared with BeInCrypto, Vincent Maliepaard, Marketing Director at IntoTheBlock, highlights the importance of unlock schedules.
“Token unlocks, whether linear or cliff, play a crucial role in asset prices. Linear unlocks tend to diffuse market impact over time, while cliff unlocks can cause abrupt shifts. By closely monitoring unlock schedules, investors can better understand growth potential and adjust their strategies accordingly,” said Maliepaard.
Worldcoin’s tokenomics have faced scrutiny, especially regarding its low float ratio. A CoinGecko report shows that among the top 300 cryptocurrencies by market capitalization, Worldcoin has the lowest float ratio at 0.02. This low ratio indicates that only a small portion of tokens are available in circulation, potentially leading to increased volatility due to future token unlocks.
Despite this, Worldcoin continues to onboard users to its network. Currently, over 6 million people hold an orb-verified World ID. This digital passport authenticates a user’s humanness and grants them access to the network.
The allocation of WLD tokens to verified World ID holders remains unchanged, with over 211 million tokens claimed to date. This accounts for over 77% of the 275 million WLD in circulation.
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