🔥Worldcoin surges 33% after extending token lock-up period for team, investors

🚀 Worldcoin Extends Lock-Up Period for WLD Tokens

Worldcoin developer Tools for Humanity (TFH) has extended the lock-up period for WLD tokens allocated to team members and investors, leading to a significant surge in the token's prices. The lock-up schedule for 80% of these tokens is now extended from three to five years.

💹 Price Surge

As a result of the announcement, WLD was trading at $2.65, up 33% over the last 24 hours, according to CryptoSlate data.

📅 New Unlock Schedule

The initial two-year unlock period, set to start on July 24, is now extended to four years, concluding in July 2028. This aims to support the sustained development and stability of the Worldcoin ecosystem.

🌍 Worldcoin's Ambition

Launched on July 24, 2023, and backed by Sam Altman, Worldcoin aspires to become the world's largest identity and financial network. Over 6 million individuals have participated, holding secure digital passports verifying their humanity.

💼 Continued Support

TFH, which initially developed Worldcoin, transferred protocol stewardship to the independent Worldcoin Foundation but continues to support the project by operating World App, the first Worldcoin-compatible wallet.

🔒 Holder Tokens Unaffected

The extended lock-up doesn't affect WLD grants for verified World ID holders. Over 211 million WLD tokens have been claimed, representing over 77% of the 275 million WLD in circulation.

🛡️ Commitment to Longevity

TFH's decision reflects a commitment to Worldcoin’s longevity and stability, ensuring gradual impacts on the WLD circulating supply.