Today, more than 5M people have an orb-verified World ID and more than 137 million WLD in user grants have been claimed in over 160 countries. This constitutes the majority of the 193 million WLD currently in circulation.
To meet the increasing demand for orb-verified World IDs around the world and support the growth of the Worldcoin network, World Assets Ltd. (a subsidiary of the Worldcoin Foundation) expects to sell WLD tokens from the World Assets treasury in the coming months. Details about the allocation of WLD to World Assets’ treasury are outlined in the Worldcoin Whitepaper.
Specifically, World Assets plans to gradually sell WLD tokens through private placements to a select group of institutional trading firms operating outside of the US. These private placements of WLD will take place for up to 6 months and will include certain measures designed to prevent WLD sold outside the US from flowing back into the US. For example, trading firms will be restricted from any resales of WLD to US persons or on digital asset trading platforms available to US persons. Further, depending on certain legal and commercial factors, World Assets may seek to include a 40-day lock-up period restricting the resale of WLD by trading firms. World Assets will be negotiating with multiple trading firms, placed in competition with each other, with the goal of executing the private placements at prices as close to the prevailing market prices for WLD as possible given the foregoing restrictions.
At current market conditions, World Assets expects to sell between 0.5M and 1.5M WLD per week on average (which is less than 0.1% to 0.4% of the current weekly trading volume), and the circulating supply of WLD will thus increase correspondingly.
World Assets may be required or choose to deviate from the plans set forth above. As such, the contents of this blog post are subject to the Disclaimer set forth in the Worldcoin Whitepaper. Moreover, readers are reminded that holding and using crypto products involves a wide variety of risks and are encouraged to carefully review this Important User Information.
Disclaimer
The above content speaks only as of the date indicated. Further, it is subject to risks, uncertainties and assumptions, and so may be incorrect and may change without notice. A full disclaimer can be found in our Terms of Use and Important User Information can be found on our Risks page.
Availability: Worldcoin (WLD) tokens are not available to or intended for people, companies or organizations who are residents of, or are located or incorporated in the United States or certain other restricted territories (or have beneficial ownership in the United States or such other restricted territories). However, World ID, TFH’s World App, and other associated functionalities within the Worldcoin ecosystem remain available in the United States. For details, go to: www.worldcoin.org/tos.