WLD soars 18% as Worldcoin extends token lock-up for early contributors

The Worldcoin Foundation has announced that the token lockup period for early contributors to Tools for Humanity has been extended from three to five years.

Worldcoin’s developer, Tools for Humanity, has informed the Worldcoin Foundation of the extension, emphasizing its commitment to the project’s longevity. In a blog post on Tuesday, the foundation noted that the majority of WLD tokens will be “issued to individuals simply because they are a unique human being.” To date, more than 211 million WLD have been claimed by World ID holders, accounting for 77% of the current circulating supply of 275 million WLD.

WLD circulating supply estimate | Source: The Worldcoin Foundation

“As of today, there are 7.22 billion WLD remaining in the Worldcoin Community pool managed by the Worldcoin Foundation and its subsidiary World Assets Ltd to support the long-term sustainability of the Worldcoin project,” the Foundation said.

Following the announcement, the price of WLD increased by 18 percent to $2.36.

Despite the extended lockup period starting July 24, Tools for Humanity investors and team members will continue to unlock approximately 2 million WLD tokens daily. This represents a reduction of approximately 40% from the initially planned 3.3 million tokens.

The adjustment is designed to “slow the growth of the circulating supply” while ensuring the stability of the project. Grants in WLD tokens for verified World ID holders will not be affected by this change, the foundation noted.