Worldcoin rose more than 25% in a few hours as WLD investors’ lockup period was extended!
Worldcoin (WLD), the privacy project based on artificial intelligence (AI) technology, has recently seen a surge in price due to an extension of the investor lockup period.
In the latest blog post, the developer team behind the project revealed a big news: the WLD tokens originally intended for early investors and team members will have to wait another two years to gradually receive them.
Specifically, starting from July 24, 2024, the WLD tokens held by early investors and team members of "Tools for Humanity" (TFH) who contributed to the Worldcoin project will begin to be unlocked a little bit every day, like a long stream of water.
But unexpectedly, this week TFH sent a notice to the Worldcoin Foundation, saying that in order to keep pace with the long-term mission of Worldcoin, the unlocking time of 80% of the WLD tokens held by them and investors will be extended from three years to five years.
Speaking of which, Worldcoin is quite special. It was launched in 2023 and became popular with eye scanning recognition technology. The boss behind it is Sam Altman, the boss of OpenAI.
At the beginning, these tokens were locked, just like letting them "grow up" first, and then let them come out to see the world when the time is right. But starting from July 24 this year, these tokens will begin to be slowly unlocked and added to the circulation of the project.
The original plan was to unlock about 3.3 million WLD every day, but now because the unlocking time has been extended, the number of tokens unlocked every day has been reduced to about 2 million, which is about 60% off. In this way, the growth rate of WLD supply in the market has slowed down, which can be regarded as a reassurance to the market.
At this stage, the market basically builds a position in the Ethereum system every time it goes down! At present, ETH ETF is expected to be officially passed and start trading next week. The gains of several Ethereum systems that I bought at the bottom some time ago are still good. There is no need to sell them. Every downward trend in the future will be a replenishment. The avatar is simple and has joined the team!
