Worldcoin rotates reward token scheme

After an initial phase of paying operator rewards in USDC, Worldcoin is transitioning to issuing these rewards in WLD tokens

article-image

Rokas Tenys/Shutterstock, modified by Blockworks

share

Crypto-based digital identity provider Worldcoin will transition operator rewards from USDC stablecoins to its WLD tokens starting next month.

Worldcoin had used USDC-based rewards as a temporary measure following its launch, a phase that’s now concluding. 

Issuing operator rewards in WLD will add to the increasing circulation of its native token.

The WLD token debuted with a modest circulating supply of slightly over 100 million WLD, the team said in a blog on Sunday. Its max supply is 100 times higher at 10 billion.

“This was due to the goal of creating a network of as many human beings as possible. To achieve this, the majority of the WLD token supply will be given to new and existing users in the form of user grants over the years to come,” it added.

Blockworks has reached out to Worldcoin about the criteria used for compensating orb operators.

Since its launch on July 24, the WLD token’s circulating supply has increased from roughly 100 million to over 134 million, representing 1.34% of the total. 

This rise is due to over 800,000 Orb-verified users claiming about 34 million WLD in free grants.

As of Oct. 22, the circulating supply of WLD includes 100 million tokens used for loans to market makers, around 34.3 million tokens given out as user grants and a little portion earned as operator rewards, the team said.

WLD’s circulating supply is expected to decrease on Oct. 24 because the market makers are due to return up to 25 million WLD from their initial 100 million WLD loan, as their agreement terms change.

They can choose to buy some tokens, but any amount not purchased will be deducted from the current supply, leading to a reduction.

The tokens are not available for use, purchase or access in the US.

Worldcoin was founded by tech entrepreneur Sam Altman, with the goal of creating a universal basic income system. 

The project uses a device called the “Orb” to scan individuals’ irises, with the aim that each free crypto grant goes to a unique person. 

These scans are conducted by operators who manage the Orbs, helping distribute Worldcoin globally by verifying human identity, an essential step in establishing a unique digital wallet for everyone, while curbing fraud.

The idea is to provide a form of financial equality and broad access to digital assets. However, the method — gathering biometric data — had sparks privacy concerns. 

Despite Worldcoin’s reassurances that it does not store any personal data after verification, critics worry about potential data breaches or misuse of sensitive iris information.

The project is currently facing global scrutiny, with regulators worldwide being apprehensive regarding the company’s handling of personal and biometric data.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Decentralized money was a “very unpopular goal” when concepts were proposed in the ’90s, said Nick Szabo

article-image

Cove aims to deliver “risk-adjusted yield” through curated DeFi vaults

article-image

The best capital markets are open to the most people — and crypto capital markets are open to everyone

article-image

Post-conference musings on Firedancer, Kraken, Solana Mobile and Trump

article-image

Executives expect others to follow SharpLink Gaming’s lead in purchasing an asset that has surged this past month

article-image

After a weekend of tariff policy shifts, investors appear confident that trade deals are underway