Worldcoin (WLD) -rahakkeen tokenomiikka

Worldcoin (WLD) is designed as a global utility and governance token with a fixed initial supply and a distribution model centered on human verification. The protocol operates primarily on the Ethereum network as an ERC-20 token, with a significant portion bridged to the Optimism (OP Mainnet) ecosystem to facilitate low-cost user transactions and grant distributions.

Issuance Mechanism

The WLD token was launched with a total supply of 10 billion tokens. The issuance schedule is divided into two distinct phases:

• Initial 15 Years: The total supply is capped at 10 billion WLD. No new tokens can be minted beyond this limit during this period.
• Post-15 Years: After the initial 15-year period, the protocol's governance can implement an inflation rate of up to 1.50% per year if deemed necessary for the long-term sustainability of the network.

As of early 2024, approximately 1.64% of the total supply (~164.04 million WLD) has been bridged to Optimism to support active network operations.

Allocation Mechanism

The allocation of the 10 billion WLD tokens is divided between the community, the initial development team, and investors. The project notably increased the team and investor share from an initial 20% to 25% due to the increased complexity of developing the World ID and Orb infrastructure.

Within the Community Reserve, the funds are further earmarked for specific purposes:

• User Grants: At least 6.00 billion WLD (60% of total supply) is dedicated to grants for Orb-verified individuals.
• Operational Costs: Approximately 1.00 billion WLD (10% of total supply) is set aside for market operations, sequencer services, and bug bounties.
• Ecosystem Fund: 500 million WLD (5% of total supply) is allocated for R&D, audits, and ecosystem grants.

Usage and Incentive Mechanism

The WLD token serves three primary functions within the ecosystem:

1. User Incentives (Grants): Individuals who successfully verify their "uniqueness" via an Orb device are eligible for WLD grants. This includes a 1.00 WLD welcome grant and recurring grants (initially set at 25.00 WLD), which are intended to decrease over time as the network scales.
2. Operator Rewards: "Orb Operators"—independent local businesses that manage the physical verification hardware—are rewarded in WLD for every successful user sign-up they facilitate.
3. Governance: WLD holders will eventually exercise governance rights over the protocol. The project aims for a "one-person-one-vote" system by combining token ownership with World ID verification to prevent sybil attacks and concentration of power.

Additionally, the token may be used for payments within the World App or to signal support for specific community initiatives once governance is fully decentralized.

Locking and Unlocking Mechanism

Worldcoin employs a strict vesting and locking schedule for tokens allocated to the development team and investors to ensure long-term alignment.

Locking Mechanism

• Team and Investors: These allocations were subject to an initial 12-month lock-up period following the token launch or the exercise of warrants.
• Market Makers: At launch, 100 million WLD were loaned to five non-U.S. market makers for three months to ensure liquidity. At the end of the term, they were required to either return the tokens or purchase them at a formula-based price.

Unlocking Time and Schedule

In July 2024, the project announced an extension to the unlocking schedule for approximately 80% of the tokens held by early contributors (Tools for Humanity team and investors).

• Original Schedule: Tokens were set to unlock daily over a 24-month period after the initial lock-up.
• Revised Schedule: The unlocking period was extended from three years to five years in total.
• Daily Release: Starting July 24, 2024, approximately 2 million WLD tokens are unlocked daily for these groups. This linear daily unlock mechanism is designed to prevent massive supply shocks while gradually increasing the circulating supply.