Key Points:
Worldcoin extends loan agreement with five entities until June 14, 2025, preserving circulating supply.
Other terms of the agreement remain intact, ensuring stability in Worldcoin's lending framework.
Extension maintains liquidity, reinforcing Worldcoin's commitment to a robust cryptocurrency ecosystem.
In a recent update shared on the official blog of Worldcoin, significant developments regarding loan agreements have come to light.
On December 16, 2023, World Assets Ltd., a subsidiary of the Worldcoin Foundation, inked a loan pact with five international trading entities. These companies, operating beyond the borders of the United States, collectively received a substantial loan of 10 million WLD.
Originally set to expire around June 14, 2024, the loan agreements have undergone a strategic alteration. World Assets Ltd. has opted to extend the duration of the loan by an additional year, stretching it to June 14, 2025. Notably, all other terms and conditions of the initial agreement remain unaltered.
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Worldcoin Prolongs Loan Duration to June 2025
This decision has significant implications for WLD's ecosystem. With the extension, the 10 million WLD loaned to the trading companies will continue to circulate within the supply chain for the foreseeable future. This prolonged circulation ensures a stable and sustained presence of WLD within the market, contributing to the overall liquidity and robustness of the cryptocurrency.
Following the conclusion of the extended period, each trading entity is obligated to repay the loan in its entirety. This provision ensures accountability and financial integrity within Worldcoin's lending framework.
The extension of the loan agreement signals WLD's commitment to fostering long-term partnerships and sustaining a healthy ecosystem. By retaining the circulating supply of WLD, the cryptocurrency remains accessible and active in various financial transactions, bolstering its utility and value proposition.
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