On October 22nd, the Worldcoin Foundation clarified that the USDC rewards had been distributed during the “transition phase” of their project. However, miners will be rewarded with WLD tokens once this phase concludes. The Foundation revealed that the WLD reward program, which began on October 10th, will be accessible to all miners in November. This change aims to strengthen the overall token supply.
According to data from Dune Analytics compiled by Worldcoin, the Foundation has already paid out 9,500 WLD tokens as rewards to operators since the start of this initiative. It’s important to note that the availability of WLD rewards depends on the accessibility of the token in the respective operator’s location. As per the announcement, WLD is not provided to businesses or individuals in “the United States or certain other restricted territories.”
The announcement also disclosed that the Worldcoin Foundation has adjusted the repayment timeline for its market makers. The Foundation had initially lent 100 million WLD tokens to five market makers with a due date of October 24th. However, this loan has now been extended to December 15th, 2023, with a modification rate of 75 million WLD tokens. The Foundation stated:
Market makers can either return the outstanding 25 million WLD from the loan or choose to purchase any quantity of tokens up to the amount for which the loan would be repaid.
Meanwhile, the debt repayment adjustment is expected to impact the total circulating supply of WLD tokens, as the Foundation suggests that the circulating supply may decrease by up to 25 million WLD by October 24th.
Data from Coinmarketcap indicates that the token has reacted negatively to the news of the WLD reward distribution, decreasing by approximately 4% to $1.51 USD at the time of writing. This digital asset has faced persistent challenges since its inception, reaching a record high of $2.90 USD on July 24th. However, despite the general market optimism, it has experienced a downward trend since then.
The project continues to face close scrutiny from regulatory authorities in several countries, including Kenya, France, and Germany, regarding how it handles the privacy data it collects.