Worldcoin announces circulating supply update and sale to trading companies.
According to a recent announcement on the Worldcoin blog, World Assets Ltd., a subsidiary of the Worldcoin Foundation, plans to sell WLD tokens from the World Assets treasury to meet and support the growing demand for Orb-verified World IDs. Worldcoin network expansion.
The majority of the 193 million WLD tokens currently in circulation have been claimed through user subsidies by more than 5 million individuals with Orb Verification World IDs in over 160 countries. To facilitate the WLD token sale, World Assets will conduct a private placement with selected institutional trading firms operating outside the United States.
These private placements will last up to six months and include measures to prevent WLD tokens sold outside the United States from flowing back into the country. For example, affiliated trading companies are restricted from reselling WLD tokens to individuals or from digital asset trading platforms accessible to U.S. persons. Additionally, depending on legal and commercial considerations, a 40-day lock-up period may be implemented to restrict resale of WLD tokens by trading companies.
World Assets aims to promote competition by negotiating with multiple trading firms to secure private placements at prices close to prevailing market rates for WLD tokens, taking into account the aforementioned restrictions.
Under current market conditions, World Assets expects to sell an average of 500,000 to 1.5 million WLD tokens per week. This corresponds to less than 0.1% to 0.4% of weekly trading volume, thereby increasing the circulating supply of WLD tokens.
It is important to note that world assets may deviate from the rough plan, and readers should refer to the disclaimers provided in the Worldcoin whitepaper for further details. Additionally, because using cryptocurrency products such as WLD tokens carries inherent risks, individuals are encouraged to review important user information available on the Worldcoin website.
Availability of Worldcoin (WLD) tokens is limited to certain territories and is not intended for individuals, companies or organizations located in the United States or other restricted territories. However, World ID, TFH’s World App, and other related features within the Worldcoin ecosystem will remain accessible in the United States.
For more information and updates, you can subscribe to the Worldcoin newsletter on the official website.
Image source: Shutterstock
. . .
tag
