Worldcoin’s WLD token experienced a significant surge of 40% after an announcement regarding an extended lock-up period for investors and team members. The price of WLD reached $3.13, marking a 45% increase since the previous day. This spike in price is the highest WLD has seen in a month, according to data from Coingecko. Tools for Humanity (TFH), a key player in the initial development of Worldcoin, revealed that the timeline for unlocking 80% of WLD tokens allocated to investors and team members will be extended from three to five years.
Previously, the plan allowed for WLD tokens to begin unlocking on July 24, 2024, which was the first anniversary of the Worldcoin protocol launch. The original schedule would have seen tokens unlocking daily over a two-year period and finishing by July 2026. However, with the new plan in place, this period has been extended to four years, with tokens unlocking daily and concluding by July 2028. This extension impacts around 2 million WLD tokens held by investors and TFH team members, reducing the daily unlock rate by approximately 40% from the original 3.3 million WLD per day.
The Worldcoin Foundation has made it clear that this change will not affect grants for verified World ID holders. More than 211 million WLD tokens have been claimed by World ID holders, representing over 77% of the 275 million WLD tokens currently in circulation. By highlighting this data in a recent press release, the foundation aims to communicate the significant portion of tokens held by World ID holders and reassure them of the impact of the lock-up period extension. The foundation has emphasized the importance of this extended lock-up period in building trust and stability within the Worldcoin ecosystem.
Investors and team members of Worldcoin seem to have responded positively to the news of the extended lock-up period, as evidenced by the 40% surge in the WLD token price. The decision to extend the unlocking timeline reflects a long-term vision and commitment to the sustainable growth and development of the Worldcoin project. By spreading out the token unlocks over a longer period, Worldcoin aims to ensure a more stable and controlled distribution of tokens, potentially reducing volatility in the market and providing more long-term value to investors and stakeholders.
Overall, the recent surge in the WLD token price and the extension of the lock-up period demonstrate the ongoing evolution and maturation of the Worldcoin project. As the Worldcoin Foundation continues to make strategic decisions to strengthen the project’s foundation and ensure transparency and stability, investors and stakeholders can look forward to a more secure and sustainable future for Worldcoin. With the commitment to building trust and value for World ID holders and the broader community, Worldcoin is positioning itself as a forward-thinking and responsible player in the cryptocurrency space.
