Worldcoin is an identity verification protocol through the scanning of biometric data. Those who voluntarily undergo an iris scan are periodically given a 'basic income' which is paid in the WLD token.

Although most of these tokens go to those who verified their identity in the protocol, a certain portion is intended for team developers and early investors. These tokens have not yet been released.

Today, July 16th, the Worldcoin organization announced a change regarding this portion of WLD tokens:

"Starting from July 24, 2024, the WLD tokens allocated to investors and team members of Tools for Humanity (TFH), the first contributors to the Worldcoin project, are scheduled to begin unlocking linearly on a daily basis. This week, TFH informed the Worldcoin Foundation that, in a move aligned with the long-term nature of Worldcoin's mission, the unlocking schedule for 80% of the WLD held by TFH team members and investors is being extended from 3 to 5 years."

Worldcoin development team

The announcement implies that the release of coins into the market will be carried out more slowly than initially planned. This action has a positive impact on WLD as its inflationary pace will be lower.

Worldcoin clarifies in a blog post that "originally, the WLD tokens of these early contributors were intended to be subject to a three-year locking schedule. Specifically, it was not possible to make transfers for one year after the launch of the Worldcoin protocol, which took place on July 24, 2023, and then the tokens would be unlocked daily and linearly for the following two years."