WLD has surged 90% in the past two days. Let’s see what happened:
According to TechCrunch's report on the 13th, Worldcoin recently launched World ID 2.0, a major upgrade to its online verification system. This move is intended to optimize the identity verification process and more effectively distinguish between real users and robots, thereby improving user experience and security.
Worldcoin, a cryptocurrency project co-created by OpenAI co-founder Sam Altman, is committed to using blockchain technology to achieve unique identity verification. The project's World ID is designed to help users prove their unique identity.
The main updates of World ID 2.0 include:
Launched World ID Apps, supporting one-click login to multiple popular applications.
Officially, World ID is now supported for login verification for applications such as Reddit, Minecraft, Telegram, Shopify, etc.
Reddit moderators can grant special permissions to users with World IDs, and Shopify store owners can use World IDs to prevent fraud or carry out promotional activities.
Tiago Sada, a core contributor to Worldcoin, said that this upgrade is not only the development of applications, but also the birth of a new developer platform.
World ID 2.0 is divided into three security levels:
Casual level: Users download the Worldcoin App and create a World ID, which only requires them to build a personal profile. There is no need to scan their iris using the Worldcoin Orb.
Standard Level: In addition to creating a personal profile, you will also need to scan your iris using the Worldcoin Orb for identity verification.
High security level: In addition to the steps in the previous two levels, facial recognition is used for enhanced security.
Security and privacy upgrades:
Allows the user to delete or reset their World ID.
Provide personal custody of World ID private keys.
Supports third-party account login like Facebook, Google, etc.
Market Reaction:
As a result of these updates, Worldcoin's native token WLD has surged 10% in value in the past 24 hours, with the latest price at $2.59. In addition, according to Spot on chain monitoring data, market makers have withdrawn about 3.02 million WLD from exchanges, worth about $7.61 million. This includes Amber Group withdrawing 2.02 million WLD from the OKX exchange, and a possible market maker whale withdrawing 1 million WLD from Binance.
Meanwhile, Worldcoin plans to close a loan agreement for 100 million WLD tokens with five market makers tomorrow. These market makers have already returned 25 million WLD from October 24 to 26, leaving 75 million to be returned.
If the repayment is not made on time, these market makers will have to buy the remaining WLD at a price of $2 to $3.12. The move by market makers such as Amber Group to withdraw funds from CEX may be to prepare for the upcoming repayment.
