Thursday, July 25, 2024

Following the initiation of Worldcoin’s (WLD) token on Monday, July 24, the cryptocurrency’s value rapidly hit a high of $3.30 per token, yet subsequently depreciated by over 35%. Despite an 18-month beta phase and over 2 million registrations, the token currently has a mere 164,195 possessors with the circulating supply exceeding 100 million WLD tokens.

A Closer Look at Worldcoin’s Holder Distribution at Launch

The Worldcoin initiative, which employs iris scanning for crypto transactions, seeks to bolster universal basic income (UBI) and digital identification in the age of artificial intelligence (AI). It introduced its cryptocurrency on Monday, July 24. As of Tuesday’s data, at 10:15 a.m. Eastern Time (ET), there exists a maximum supply of 10 billion WLD tokens. At the moment, coingecko.com and coinmarketcap.com report a circulating supply of 107 to 108+ million WLD tokens. When initially listed on the exchange, the token price was at $1.88, later peaking at $3.30 on the same day.

As of July 25, 2023, WLD has been trading for prices fluctuating between $1.91 and $2.56 per token, displaying high volatility. The current token price stands at $2.17, indicating a decline of over 35% from its highest ever. The Worldcoin idea was birthed in 2019, established by Openai CEO Sam Altman, Max Novendstern, and Alex Blania of the San Francisco and Berlin-based Tools for Humanity. Originally based on Ethereum, the token now operates on the Optimism (OP) layer two blockchain.

Prominent venture capital investors such as Reid Hoffman, Andreessen Horowitz, Anatoly Yakovenko, Gavin Wood, Day One Ventures, Digital Currency Group (DCG), Coinfund, Blockchange Ventures, and others back the project. Currently, with 107 million WLD tokens in circulation, the distribution of the cryptocurrency is heavily centralized, with a handful of entities controlling it. For example, out of 164,195 unique WLD token addresses, the largest wallet controls a substantial 63.29% of the total supply.

As of 10:15 a.m. (ET) on July 25, 2023, the top five WLD wallets are as follows.

To highlight the concentration, the largest wallet holds 112,540,589 WLD, the second largest holds 32,488,727 tokens, equivalent to 18.26% of all WLD. The third largest WLD wallet owns 8,722,407 tokens, accounting for 4.9% of the circulating supply. Most WLD tokens are held by market makers and exchanges such as Binance, Bybit, and the Optimism Gateway. Very few transfers have occurred since its inception — just 275,591 transactions have been made since launch, a significant portion of which are “claim” transfers of 25 WLD each.

The mission of WLD is to ensure its fair global distribution based solely on unique identity. It’s reported that 75% of WLD will be allocated to the Worldcoin community, with 10% each set aside for the Worldcoin team, advisors, and the Worldcoin Foundation. The remaining 5% is designated for early investors and strategic Worldcoin partners. However, the schedule for decentralizing the currently consolidated supply remains uncertain. At this moment, it’s the market makers who largely control Worldcoin’s (WLD) distribution.

We would like to know your opinion about the Worldcoin supply and how you believe it will be evenly distributed, given the current level of concentration. Feel free to share your thoughts and perspectives on this matter in the comment section below.

Frequently Asked Questions (FAQs) about Worldcoin’s Supply Distribution

What was the peak value of Worldcoin (WLD) at launch?

The peak value of Worldcoin (WLD) at launch was $3.30 per token.

What is the current circulating supply of WLD tokens?

The current circulating supply of WLD tokens is between 107 and 108+ million.

Who are some notable venture capital investors in the Worldcoin project?

Notable venture capital investors in Worldcoin include Reid Hoffman, Andreessen Horowitz, Anatoly Yakovenko, Gavin Wood, Day One Ventures, Digital Currency Group (DCG), Coinfund, and Blockchange Ventures among others.

How is the distribution of Worldcoin’s (WLD) supply currently?

The distribution of Worldcoin’s (WLD) supply is heavily centralized, with the largest wallet controlling a substantial 63.29% of the total supply.

What is Worldcoin’s plan for distributing its tokens?

Worldcoin plans to ensure a fair global distribution based on unique identity, with 75% of WLD allocated to the Worldcoin community, 10% each for the team, advisors, and the Worldcoin Foundation, and 5% for early investors and strategic partners.

More about Worldcoin’s Supply Distribution

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6 comments

BlockChainLover July 26, 2023 - 6:41 am

Interesting article! wonder how they plan to decentralize distribution. fair distribution is important

Reply
CryptoGuru23 July 26, 2023 - 9:48 am

hey, didn’t know Worldcoin was this centralized. 63% in one wallet, thats crazy…

Reply
UBIAdvocate July 26, 2023 - 3:23 pm

Really hope they push UBI with this. It could be a game changer… keeping an eye on this one.

Reply
TokenTraderJoe July 26, 2023 - 4:49 pm

didn’t expect WLD to drop 35% after peak. pretty volatile huh.

Reply
EtherGal July 26, 2023 - 7:01 pm

as a eth fan, kinda cool they started on Ethereum but now moved to Optimism. Scalability is key these days.

Reply
VentureCapSam July 27, 2023 - 1:41 am

Impressed to see names like Hoffman and Andreessen Horowitz investing here, Might have to take a closer look at this.

Reply

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