Following the launch of its mainnet, the Worldcoin project released its tokenomics on Monday. However, CoinDesk reporters in Greece, India, Italy, and the U.K. encountered geofencing issues while trying to access the content within the project’s whitepaper. The company is currently investigating this issue.
Worldcoin Tokenomics Revealed: Geofenced Publication for Specific Jurisdictions
Additionally, the World App faced capacity constraints, leading to high loads and potential disruptions for users around 13.30 UTC on Monday.
The highly anticipated project had been conducting airdrops of beta tokens to users verified with its iris-scanning Orb over the past month. These beta tokens resemble IOUs and were distributed prior to the network launch, differing from on-chain tokens.
Verified users who updated the app received a 25 WLD “genesis grant” in their wallets, but this only occurred in countries where regulations permitted. Notably, this did not include the U.S.
Some details from the tokenomics site were gathered by a CoinDesk reporter who could access it, though the site later became unavailable on that device. A Worldcoin representative confirmed the collected details.
The WLD token supply will be capped at 10 billion for 15 years, during which the network’s governance can decide on an inflation rate of up to 1.5% and determine token allocation.
At launch, the maximum circulating supply of WLD is 143 million, with 43 million allocated to pre-launch verified users, and 100 million given as loans expiring in three months to non-U.S. market makers.
The token allocation breakdown includes 75% for the community, 13.5% for investors of Tools for Humanity, 9.8% for the initial development team, and 1.7% in reserve. The insider allocation was increased to 25% due to the complex and costly development process and challenging market conditions. Investor and team tokens will be locked up at launch and gradually released over the first year and the following two years.
The 7.5 billion WLD allocated to the community was minted before the launch, and the foundation aims to allocate 6 billion of those to users. However, none of the tokens allocated to users are locked up, according to a Worldcoin representative. It’s worth noting that not all 2.5 billion WLD for insiders have been allocated yet.
Despite the geofencing and app challenges, the Worldcoin project has garnered significant attention and saw major price surges on top exchanges that rushed to list it.
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