Worldcoin To Cease Paying Orb Operators In USDC As Early As November

Worldcoin is about to start paying its Orb Operators — these rewarded for scanning folks’s eyes — with its native Worldcoin (WLD) token, phasing out USD Coin (USDC) as early as subsequent month.

According to an Oct. 22 announcement, Worldcoin says Orb Operators — “independent ecosystem participants” tasked with scanning folks’s irises in trade for WLD tokens — will cease to be paid in USDC as of November. The change will have an effect on most jurisdictions.

Worldcoin stated the transfer to pay orb operators totally in WLD was a part of a “transitional phase” following the official launch of the project on July 24. On Oct. 10, the Worldcoin Foundation kicked off a pilot program to grant choose operators with fee in WLD tokens.

“In November 2023, the Worldcoin Foundation expects that the transition process will be completed such that all Operators will receive WLD going forward.”

In the weblog put up, Worldcoin famous that the Worldcoin tokens are at present not out there to folks or corporations who’re residing in the United States, as effectively as “certain other restricted territories.”

Data from Worldcoin’s official Dune Analytics dashboard reveals that the availability of the WLD token has grown from roughly 100 million on the time of launch to round 134 million on the time of publication.

*The present circulating provide of Worldcoin (WLD) tokens. Source: Dune Analytics*

Of the roughly 134 million WLD tokens issued to date, 100 million have been distributed as loans to market makers, whereas the remaining 34 million got out to Orb operators and new customers in the type of “free user grants.”

According to Worldcoin, a complete of 5 market-making entities obtained the 100 million WLD loans, which have been due to expire on Oct. 24, 2023. However, Worldcoin stated that it might prolong the expiration date of those loans to Dec. 15, with a lowered quantity of 75 million WLD.

“The market makers will return or, alternatively, purchase some or all of the remaining 25 million as part of the agreement,” learn the announcement.

The value of Worldcoin’s native WLD token has regained barely in latest weeks following a considerably extended post-launch hunch.

WLD reached an all-time excessive of $2.65 on July 27 earlier than falling 63% to attain as low as $0.97 on Sept. 13. It is at present altering arms for $1.64, in accordance to knowledge from TradingView.