Worldcoin to start paying Orb operators in WLD

Worldcoin’s iris-scan device operators, run by Sam Altman, will start receiving rewards in the native token WLD in November, gradually phasing out USDC.

According to the statement, Orb owners are “independent participants in the ecosystem”, and selecting a new token for collaboration with them is part of the company’s “transitional phase”.

The Worldcoin Foundation launched a pilot WLD payout program in early October for selected operators.

The OpenAI chief’s project announced its official launch on July 24. The startup’s core product — the World ID protocol — is based on zero-knowledge proofs. It is a tool that allows people to verify their identity using biometric data or a phone number.

Iris scans are performed via a dedicated device — the Orb. For passing verification, users receive a reward of 25 WLD (~$39 at the time of writing).

According to the dashboard Dune, since the project’s launch the number of tokens in circulation has risen from roughly 100 million to 134 million. The metric represents 1.34% of the total 10 billion WLD supply.

Representatives said that ahead of the official launch they allocated 100 million WLD to five market makers in the form of loans, due to expire on October 24, 2023. However, Worldcoin extended the date to December 15 with a reduced debt obligation of 75 million WLD.

“The market makers will return, or alternatively buy some or all of the remaining 25 million [coins] under the agreement,” the announcement said.

Since launch, WLD has been on a sustained decline. At the time of writing the token trades at $1.56. The asset had peaked in July at $2.60.

Earlier, acknowledged problems with Worldcoin. In his view, operational processes and overcoming resistance to collecting biometric data remain challenging tasks.

Authorities in the United Kingdom, France, Germany, Kenya and Argentina showed interest in Worldcoin following the project’s launch.