اقتصاد توکنی Worldcoin (WLD)

Worldcoin (WLD) is designed as a global identity and financial network, utilizing a unique distribution model centered on "Proof of Personhood." The token was initially launched as an ERC-20 token on the Ethereum mainnet, with a significant portion of its activity and distribution occurring on the Optimism (OP Mainnet) layer-2 network.

Issuance Mechanism

The Worldcoin protocol launched with a fixed total supply of 10,000,000,000 (10 billion) WLD. This supply is intended to remain constant for the first 15 years following the launch.

After this initial 15-year period, the protocol's governance mechanism has the authority to implement an inflation rate of up to 1.50% per year if deemed necessary for the long-term sustainability of the network. The default inflation rate is set to 0% unless changed by governance.

Allocation Mechanism

The allocation of the 10 billion WLD tokens is divided between the community, the initial development team, and investors. While early plans suggested a 20% allocation to insiders, the final whitepaper increased this to 25% to account for the complexity of the project's development.

Community Reserve Breakdown

The 7.5 billion tokens allocated to the community are further subdivided:

• User Grants: At least 6.0 billion WLD (60% of total supply) are dedicated to grants for Orb-verified individuals.
• Operational Costs: Approximately 1.0 billion WLD are earmarked for ecosystem operations, including Orb Operator rewards, market operations, and bug bounties.
• Ecosystem Fund: 500 million WLD are set aside for protocol R&D, audits, and ecosystem grants.

Usage and Incentive Mechanism

The WLD token serves several core functions within the ecosystem, primarily acting as an incentive for network growth and a future tool for governance.

• User Incentives (Grants): Individuals who verify their uniqueness via an "Orb" device are eligible for WLD rewards. As of early 2024, this included a 1.00 WLD welcome grant and 25.00 WLD in recurring grants. These grants are distributed on the Optimism network.
• Orb Operator Rewards: Independent local businesses that operate Orbs to verify users are rewarded in WLD. Operators often participate in a bidding process to receive Orbs, incentivizing them to maximize sign-up rates.
• Governance: WLD holders will eventually have governance rights over the protocol. The project aims for a "one-person-one-vote" system by combining token ownership with World ID verification to prevent power concentration.
• Ecosystem Utility: Future uses may include payments within the World App, signaling support for initiatives, or funding additional World ID-compatible services.

Locking Mechanism and Unlocking Time

Worldcoin employs strict locking and vesting schedules for tokens allocated to investors and the development team to ensure long-term alignment.

Investor and Team Vesting

Initially, these allocations were subject to a 12-month lock-up followed by a 24-month daily linear unlock. However, in July 2024, Tools for Humanity (TFH) announced an extension to this schedule for approximately 80% of the team and investor tokens.

• Lock-up Period: Tokens are locked for 12 months following the exercise of warrants or the project launch.
• Unlocking Schedule: Following the lock-up, tokens transition to a daily linear unlock. Under the revised schedule, this period was extended from two years to four years (totaling a five-year path from the start).
• Daily Liquidity: Reports indicate that approximately 2 million WLD tokens (valued at roughly $4.8 million at the time of the announcement) are released daily through these linear unlocks.

Market Maker Loans

At launch, World Assets Ltd. provided loans totaling 100 million WLD to five non-U.S. market makers to ensure liquidity on centralized exchanges. These loans were initially set for a three-month duration, after which the market makers had the option to return the tokens or purchase them at a formula-based price ($2.00 + $0.04 per million tokens purchased).