Worldcoin (WLD) shifts to pay users in its native token, WLD, instead of USD Coin (USDC). WLD’s price falls 4.78% despite this change.
Key Takeaways
- Worldcoin (WLD) is changing its incentive structure, opting to pay users in its native token, WLD, instead of USD Coin (USDC).
- The Worldcoin Foundation announced this shift, with Orb operators set to receive payments in WLD starting from November.
- WLD’s supply has grown steadily from 100 million to 134 million units, making it an attractive choice for incentivization.
- Despite the positive news, WLD’s price has dropped by 4.78% to $1.55, signaling a cautious market sentiment.
In a significant strategic move, Worldcoin (WLD) has announced a transition in its incentive model. The Worldcoin Foundation unveiled its plan to shift from paying users in USD Coin (USDC) to their own native token, WLD. This shift, detailed in a blog post on October 22, means that Orb operators, an integral part of the Worldcoin ecosystem, will soon be receiving their rewards in WLD, starting next month.
WLD Price Outlook:
To bolster the utility and relevance of WLD, the Worldcoin Foundation has initiated various programs. Notably, they have introduced a lending program for market makers, allocating 100 million WLD for this purpose. While the current cycle is scheduled to end on October 24, the foundation has signaled its intent to extend the loan agreement, albeit with a reduced supply of 75 million WLD.
This decision underscores Worldcoin’s determination to strengthen its network, taking into account the current operational performance of WLD. The Worldcoin Foundation finds it increasingly viable to compensate Orb Operators in WLD, especially considering the token’s remarkable supply growth. Initially launched with 100 million units, the supply of WLD has now risen to 134 million, as confirmed by the latest data.
.@Worldcoin reacts unexpectedly despite enhanced #WLD utility #Worldcoin https://t.co/hymjYVyM1Y
— U.Today (@Utoday_en) October 23, 2023
Unfortunately, despite the optimistic news from the Worldcoin Foundation, WLD has experienced an unexpected downturn in its price. Currently trading at $1.55, the digital currency has witnessed a 4.78% decline, according to data from CoinMarketCap. This decline is particularly noteworthy as it occurs alongside a bullish trend in major altcoins like Chainlink (LINK), indicating a lack of immediate market confidence in Worldcoin’s latest efforts to bolster its asset’s value.
However, it’s essential to remember that Worldcoin has a history of experiencing temporary price fluctuations. These are often counterbalanced by its growing adoption and positive investor sentiment, suggesting that the current setback might be just a short-term blip.
To Conclude
Worldcoin’s shift towards paying users in its native token, WLD, signifies a strategic move to strengthen its network and incentivize participants. The substantial increase in WLD’s supply showcases the project’s growth, potentially making it an attractive choice for Orb operators. Nevertheless, the market’s initial reaction, marked by a drop in WLD’s price, reflects the cautious sentiment among investors. Worldcoin’s future performance will depend on its ability to reassure the market and continue to build on its adoption and investor optimism.