Worldcoin stops paying Orb operators in USDC. Aside from ditching USDC for its native token, Worldcoin announced changes to the terms of its WLD loans to market makers. Follow the Pooyan Music site to receive the latest news and articles about World Coin and other currencies.
WorldCoin is set to begin paying its Orb operators, who are rewarded for scanning people’s eyes, with the native Worldcoin (WLD) token, phasing out USD Coin early next month.
According to the October 22 announcement, Worldcoin says that Orb Operators, independent ecosystem participants tasked with scanning people’s irises in exchange for WLD tokens, will not be paid USDC starting in November.
WorldCoin stated that the move to fully pay the orb operators on WLD is part of a transition phase after the official launch of the project on July 24. On October 10, the Worldcoin Foundation launched a pilot program to grant payments to selected operators. Also in November 2023, the Worldcoin Foundation expects the transition process to be completed so that all operators will receive WLD in the future.
In the blog post, Worldcoin noted that Worldcoin tokens are currently unavailable to individuals or companies residing in the United States, as well as other restricted territories.
Data from the official Dune Analytics Worldcoin dashboard shows that the supply of the WLD token increased from around 100 million at the time of creation to around 134 million at the time of release.
Of the approximately 134 million WLD tokens issued so far, 100 million were distributed as loans to market makers, while the remaining 34 million will be distributed to Orb operators and new users in the form of user grants.
Worldcoin stops paying Orb operators in USDC
According to Worldcoin, a total of five market makers received 100 million WLD loans, which were due to expire on October 24, 2023, with a reduction of 75 million WLD.
As part of the deal, market makers will buy back or buy some or all of the remaining 25 million. The price of Worldcoin’s native WLD token has risen slightly in recent weeks after a prolonged slump following its creation.
WLD hit an all-time high of $2.65 on July 27th and fell 63% to $0.97 on September 13th. It is currently trading at $1.64, according to TradingView data.
WorldCoin (WDC) is a digital currency. This is a Bitcoin clone. Worldcoin is exchanged for other digital currencies on several online exchanges.
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