Universal token of World

The WLD token contract is deployed on Ethereum mainnet, and the token is bridged to the World Chain “layer 2” network. However, World Foundation expects that most of the activity in WLD tokens will happen on World Chain, where verified individuals receive their user token amounts. In addition, World App primarily interacts with the World Chain network. The reasons for choosing World Chain over Ethereum as the primary venue were scalability and transaction costs. A legacy bridged version of WLD also still exists on Optimism.

World App users generally do not currently incur gas costs; the gas fees for claiming WLD tokens, performing swaps, and other transactions are currently funded by TFH. In the future, World App could require users to pay gas fees for certain actions, e.g., transfers made to other wallets. When users verify their identity to a third-party application via World ID, this does not incur gas costs for the protocol. However, the third-party applications may charge users gas fees (depending on whether they verify the proof on-chain or off-chain) or other fees. For instance, when using the swap feature in World App, users do pay any fees incurred on third-party platforms. Users may incur gas fees for transactions that are not made through World App that are dependent on the platform and chain on which the transaction is occurring.

The majority of the World Community tokens are stored in a cold wallet. Additionally, several hot wallets are used by World Foundation and World Assets, Ltd., to manage everyday operations. Tokens are typically only stored in these hot wallets for a short period of time, and these wallets only store as many tokens as needed.

The WLD token contract is not upgradable. No control can be exercised over the contract, except for setting the “minter” address in case the community decides to activate inflation. For 15 years following the launch, no address is able to mint any new tokens. After 15 years, a “minter” address (controlled by protocol governance) can mint up to 1.5% new WLD tokens per year, with governance deciding how to allocate them.

The World Foundation is an exempted limited guarantee foundation company, incorporated in the Cayman Islands. It is “memberless,” meaning it has no shareholders or beneficial owners. Its registered office is located at Suite 3119, 9 Forum Lane, Camana Bay, George Town, Grand Cayman KY1-9006, Cayman Islands. World Foundation’s principal purpose, as set forth in its Articles of Association, is to support and encourage the growth of those building in the World ecosystem, support and foster the decentralization of World technologies and governance, hold and license intellectual property relating to the World Network, and to receive, sell, hold, loan, and spend assets to support these purposes. 

World Assets, Ltd. is a company registered in the British Virgin Islands on December 7, 2022 with BVI Company Number 2113558. The World Foundation is the sole member/director of World Assets, Ltd. World Assets, Ltd.is responsible for issuing the 7.5B Worldcoin tokens (WLD) that have been allocated to the World community. 

World Chain LLC is a limited liability company formed in the Cayman Islands. World Foundation is its sole member and manager. World Chain LLC is responsible for the ownership and operation of World Chain infrastructure.

More information about these entities, including incorporation documentation and equity composition, can be found at foundation.world.org/about. 

Tools for Humanity (TFH) is a Delaware corporation headquartered in San Francisco, California (US), with a wholly-owned subsidiary, Tools for Humanity GmbH based in Germany. Its registered office is located at CSC 251 Little Falls Drive, Wilmington, Delaware 19808. It registered on June 26, 2019 and its legal entity number is 7487684. TFH supported World’s multi-year pre-launch phase, during which it developed the Orb, the first version of the protocol, and the World App, the first wallet for World, which it still operates today. It is governed entirely independently of World Foundation. Founded in 2019, TFH has grown to a team of approximately 500 people today. However, World is an open protocol that anyone can contribute to and build on.