Worldcoin Developer Tools for Humanity (TFH) Extends WLD Token Lock-Up Period, Triggering Price Surge

The decision, made in alignment with Worldcoin's mission, will see the lock-up schedule for 80% of these tokens extended from three to five years.

Worldcoin developer Tools for Humanity (TFH) announced an extension to the lock-up period for the WLD tokens allocated to its team members and investors, a decision that led to a significant surge in the token’s prices.

The move will see 80% of these tokens have their unlock schedule pushed back from three to five years, an adjustment that follows an initial plan to begin unlocking the tokens daily from July 24 over two years, concluding in 2026.

However, under the new schedule, the unlocking process will now span four years, concluding in July 2028. The decision aims to support the sustained development and stability of the Worldcoin ecosystem.

The Worldcoin project, launched on July 24, 2023, and backed by Sam Altman, aims to become the world’s largest identity and financial network by distributing the majority of WLD tokens to individuals with verified World IDs.

As of July, over 6 million unique humans participated in the network, holding secure digital passports that verified their humanity.

TFH, which played a crucial role in the initial development of Worldcoin, transferred protocol stewardship to the independent Worldcoin Foundation nearly a year ago but continues to support the project by operating World App, the first Worldcoin-compatible wallet.

Holder tokens unaffected

It's worth noting that the WLD grants for verified World ID holders will remain unaffected by the extended lock-up for TFH team members and investors.

To date, more than 211 million WLD tokens have been claimed by these individuals, representing over 77% of the 275 million WLD in circulation.

The Worldcoin Community pool, managed by the Worldcoin Foundation and World Assets Ltd, still holds approximately 7.22 billion WLD tokens dedicated to ensuring the project’s long-term sustainability.

The decision to extend the lock-up period reflects TFH’s commitment to the project’s longevity. By exceeding the standard practices of many other projects, TFH aims to provide greater stability for the Worldcoin network as it seeks to build essential infrastructure in an AI-dominated future.

The impact of this extension on the WLD circulating supply is expected to be gradual. The Worldcoin Foundation has shared a forecast based on current data, although actual circulation will depend on various factors such as network growth and user activity.

Worldcoin Market Data

At the time of press 6:10 pm UTC on Jul. 16, 2024, Worldcoin is ranked #95 by market cap and the price is up 34.48% over the past 24 hours. Worldcoin has a market capitalization of $735.81 million with a 24-hour trading volume of $670.67 million. Learn more about Worldcoin ›

Worldcoin

$2.67

Crypto Market Summary

At the time of press 6:10 pm UTC on Jul. 16, 2024, the total crypto market is valued at at $2.36 trillion with a 24-hour volume of $101.34 billion. Bitcoin dominance is currently at 53.60%. Learn more about the crypto market ›

Mentioned in this article

Assad Jafri

AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.

News Desk

CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.

Latest Worldcoin Stories

Worldcoin’s WorldID to arrive on Solana via Wormhole grant

The Worldcoin Foundation announced 16 grants worth over $800,000 at current WLD prices.

Worldcoin token surges 12% after Ecuador expansion and Kenya probe closure

Worldcoin continues to face significant legal troubles despite its recent victories.

Worldcoin ‘disappointed’ with Hong Kong ban as WLD drops 5%

Worldcoin's WLD token tumbled 5% following the regulatory issues in Hong Kong.

Hong Kong bans Worldcoin’s data collection over alleged privacy violations

Worldcoin has stepped up efforts to enhance its users' data privacy recently.

Latest Press Releases

PlayFi Powers FIrst AI-Driven Prediction Market for Esports World Cup CounterStrike

Multipool Enters Strategic Partnership with Tokinvest Delivering Next-Level Tokenized Real-World Asset Trading

PEXX Raises $4.5 Million in Seed Funding for its Innovative Stablecoin-to-Fiat Payment Platform

The above is the detailed content of Worldcoin Developer Tools for Humanity (TFH) Extends WLD Token Lock-Up Period, Triggering Price Surge. For more information, please follow other related articles on the PHP Chinese website!