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

The Worldcoin Foundation has announced an extension of the token lock-up period for early contributors at Tools for Humanity from three years to five years.

Tools for Humanity, the developer of Worldcoin, has informed the Worldcoin Foundation of this extension, emphasizing its commitment to the project’s logevity. According to a blog announcment on Tuesday, the foundation noted that the majority of WLD tokens “will be given to individuals simply for being a unique human.” To date, over 211 million WLD have already been claimed by World ID holders, constituting 77% of the current 275 million WLD supply in circulation.

“As of today, there are 7.22 billion WLD remaining in the Worldcoin Community pool, which is administered by the Worldcoin Foundation and its affiliate entity World Assets Ltd for the purpose of supporting the long-term sustainability of the Worldcoin project,” the foundation added.

Following the announcement, the price of WLD surged by 18% to $2.36.

Despite the extended lock-up period, starting on July 24, Tools for Humanity investors and team members will continue to have approximately 2 million WLD tokens unlocked daily. This represents a nearly 40% reduction from the originally planned 3.3 million tokens.

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