On October 18, Worldcoin was officially renamed World Network (abbreviated as World), and the World Chain mainnet was launched simultaneously. On the same day, World Chain quickly attracted a large number of Meme coin players, and various "cat and dog Meme" contract codes were wildly spread in the community, and Worldchain became a new battlefield for Meme coins.

What’s new in the Worldcoin launch?

At the press conference, the World team launched a series of blockbuster products, including the World Chain mainnet, Orb 2.0 version, World Apps 3.0, and World ID 3.0.

World Chain: Layer2 network built on OP Stack

World Chain is a Layer2 network built on OP Stack, which has received support from well-known projects such as Optimism, Alchemy, Uniswap, and Safe. Currently, the transaction volume of World Chain accounts for 44% of the OP main network, and it gives priority to anonymous manual verification and financial access at the application level. This enables World Chain to achieve Sybil resistance based on World ID and create a Layer2 network with only real users participating.

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Orb 2.0: Upgraded iris scanning device

As a new generation of iris scanning device, Orb 2.0 uses open source code, has fewer manufacturing parts and stronger chip performance. Currently, World has set up advanced verification experience stores in Buenos Aires and Mexico, and plans to promote its use in more everyday places.

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World Apps 3.0: A deeply anonymously integrated mini-program platform

World Apps 3.0 allows third-party mini-programs to run directly within the World App, integrating the user's World ID, wallet and contact information. The application scenarios are closer to daily life, such as transfers, games and fee recharges.

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World ID 3.0: identity verification with lower barriers

To make it easier for more users to obtain World ID, World ID 3.0 introduces new verification methods, including verification using official documents such as ID cards and passports. In addition, World ID Deep Faces technology will help users identify whether the person they are interacting with online is a deep fake.

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World Chain is online, why does WLD fall instead of rise?

Although the World Chain mainnet was successfully launched, the price of WLD fell briefly after the announcement. On-chain data shows that market maker GSR MARKET sold about $3 million of WLD on Binance, resulting in a certain amount of selling pressure. In addition, Alameda Research has also deposited 1.7 million WLD with Binance in the past three months. In addition, WLD does not have the expectation of distributing protocol income to holders like Uniswap (UNI), resulting in its value capture being unclear. However, from a technical point of view, the RSI index of WLD is 56.41, and there may be bullish breakthrough opportunities in the medium and long term.

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What is the community playing on World Chain?

In the World Chain ecosystem, the first batch of decentralized exchanges DYORSwap and bridge tool Owlto have been launched. At the same time, users' attention is also focused on Worldchain's native tokens and Meme coin projects.

ORB is the first token on Worldchain. It adheres to the spirit of fairness and avoids the phenomenon of pre-mining, pre-sale and large-scale private investment in the market. Users can complete verification through World App at any time and receive 1,000 ORB for free.

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  • WCat

  • WCat's 24-hour drop is 84%, with a market value of $248,000

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  • Sofamon

  • Sofamon's 24-hour increase was 64.73%, with a market value of $42,000

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  • FROGE

  • FROGE's 24-hour increase was as high as 16149%, but it gradually fell back today. The current market value is US$564,000.

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Except for ORB, which is not open for trading yet, all the assets on WorldChain, including WCat, Sofamon and FROGE, retreated quickly after reaching a high on the night of October 17, and profit-taking continued to exit the market, which was almost zero as of October 18. In terms of trading volume, the 24-hour trading volume of World Chain was 70 million US dollars, and the meme coin with the highest trading volume was only 4.9 million.

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For a new chain like World Chain, investors are more likely to wait and see, hoping to take advantage of the hype to realize profits. The market of Zoo Meme Coin is not sustainable in the short term. The World team still has a long way to go in launching more valuable applications and attracting market funds.