Worldcoin Unveils WLD Tokenomics and World ID: Pioneering the Largest Identity and Financial Network Owned by All

Worldcoin Unveils WLD Tokenomics and World ID: Pioneering the Largest Identity and Financial Network Owned by All

Worldcoin has now unveiled the comprehensive WLD tokenomics, providing invaluable insights into its visionary mission of establishing the world’s most extensive identity and financial network as a public utility owned by all.

The core essence of the Worldcoin project centers around constructing a robust infrastructure that can effectively navigate the rapidly evolving AI technology landscape.

The primary objectives of the Worldcoin project, revolving around the WLD token, are as follows:

1. Extensive Token Distribution: A significant proportion of WLD tokens will be allocated to individuals based solely on their unique human identity, making WLD one of the most widely distributed digital currencies in existence.
2. Governance: The World ID platform, in conjunction with the WLD token, will be instrumental in protocol governance, empowering users to actively participate in shaping the future trajectory of the thriving Worldcoin ecosystem.
3. Privacy-Enhanced Identity Network: The World ID platform, operating as a privacy-preserving global identity network, will enable users to verify their humanness online through the utilization of zero-knowledge proofs. This becomes especially crucial in differentiating humans from AI entities in the AI-dominated digital realm.

Functioning as an ERC-20 token on the Ethereum Mainnet, the WLD token will also be facilitated through user grants on the Optimism Mainnet. The majority of WLD transactions are anticipated to take place on the Optimism network, with the ability to bridge back to Ethereum via the Optimism bridge if necessary.

To ensure a sustainable growth trajectory, the project has established a fixed supply cap of 10 billion WLD tokens for the initial 15 years post-launch. This cap is diligently enforced by the WLD smart contract. Following this period, the governance retains the option to introduce a maximum inflation rate of 1.5% per year, contingent upon its necessity for the long-term viability of the protocol. The allocation of newly minted tokens will also be governed by the WLD smart contract, subject to the 1.5% inflation cap. Notably, the default inflation rate is set to 0% unless modified via governance.

The token distribution breakdown is as follows:

• 75% for the Worldcoin Community: A significant portion of these tokens will be allocated to users, while some will be designated for the ecosystem fund and network operations. The Worldcoin Foundation will oversee the token allocation process, gradually moving towards decentralized governance decision-making.
• 9.8% for the Initial Development Team: Tools for Humanity (TFH) and other service providers led the initial development of Worldcoin, including the creation of the Orb, protocol version, and World App.
• 13.5% for TFH Investors: Investors played a crucial role in providing funding during the multi-year pre-launch phase, facilitating essential developments for the Worldcoin ecosystem.
• 1.7% for TFH Reserve: Following the launch, TFH will retain a reserve of 170 million WLD tokens for future requirements.

During the launch phase, the maximum circulating supply of WLD tokens will be 143 million, with over 43 million WLD tokens already distributed to verified users during the successful pre-launch phase. Furthermore, the project endeavors to introduce 1,500 Orbs at launch, catering to the global demand for World ID verification.

World ID, a fundamental pillar of the Worldcoin system, stands as a privacy-preserving global identity network. Leveraging zero-knowledge proofs, World ID empowers users to substantiate their unique human identity online while safeguarding their privacy. This becomes increasingly crucial as the lines between humans and AI entities blur in the vast expanse of the internet.

Through World ID, individuals can verify their true identities on platforms that integrate with the protocol, spanning from web3 systems to social networking sites and government programs. This opens the gateway for fair airdrops, token/NFT sales, protection against bots/sybil attacks on social media, and the equitable distribution of limited governmental resources. Moreover, World ID possesses the potential to bolster global democratic processes and usher in novel forms of governance, potentially contributing to AI-funded universal basic income (UBI).

The WLD token serves not only as a utility token with governance capabilities but also empowers users to actively participate in shaping the future of Worldcoin. Beyond governance, the token holds numerous applications, including facilitating payments within the World App or other wallet applications, enabling remittances, tip transactions, facilitating the buying and selling of goods and services, and signaling support for various causes and initiatives.

In the aftermath of the launch, the Worldcoin Foundation will spearhead the project, progressively decentralizing governance and the entire ecosystem. Prioritizing extensive token distribution to unique human identities, the foundation aspires to position WLD as one of the most inclusive and decentralized digital currencies, unlocking its full potential as a revolutionary force in the realm of cryptocurrency.