CoinW is reporting:
What is Worldcoin?
The mission of the Worldcoin project is to establish the world’s largest identity and financial network as a public utility, enabling ownership for everyone.
The Worldcoin system revolves around World ID, a privacy-preserving global identity network. World ID allows users to verify their humanity (“proof of personhood”) online while maintaining their privacy through zero-knowledge proofs.
To utilize the Worldcoin protocol, individuals must first download the World App, the initial wallet application supporting World ID creation. People access a physical imaging device called Orb to verify their World ID Orb. Most Orbs are operated by local independent networks of entities known as Orb Operators. Orbs use multispectral sensors to validate personhood and uniqueness, with all images by default immediately deleted on the device (no explicit consent for data hosting).
All World ID holders verified by Orb are entitled to claim regular distributions of free WLD tokens (WLD tokens not available in the United States; see the Worldcoin Token Economics section in the project’s whitepaper for details). This has the potential to make WLD one of the most widely distributed digital currencies.
WLD tokens are designed as utility tokens with governance properties, empowering users by granting them a say in the protocol’s future. In addition to the traditional “one coin, one vote” governance mechanism, the introduction of World ID paves the way for a “one person, one vote” mechanism. These two mechanisms can also be combined to achieve new governance modalities. Following launch, the Worldcoin Foundation will solicit proposals and collaborate with the community to discuss how World ID and WLD tokens should interact within the Worldcoin governance model (see the whitepaper for detailed information on governance and decentralization).
The user community will determine the token’s utility, but besides governance, other use cases may emerge. For instance, users might decide to use WLD tokens to pay for certain operations within the World App or other wallet applications, make other payments, or express approval for certain initiatives or causes.
WLD is an ERC-20 token on the Ethereum network. Individuals will receive user rewards on the Optimism mainnet. Therefore, most WLD transactions are likely to occur on the Optimism network.
$WLD Unlocks Shock the Market, High Point Drop by 80%!
According to Token.unlocks data on June 30, starting from July 24, WLD will undergo substantial linear unlocking, with daily unlocks reaching 6.62 million WLD tokens, approximately $18 million, continuing for 730 days. Unlocking includes community, initial developer team, and investor unlocks.
This unlocking method is unprecedented; are the project team intending to overwhelm everyone? With 662k WLD unlocked daily for 730 days, who can handle such a massive amount? This sell-off could surpass $AEVO! Continuous unlocking pressure, coupled with the current total market value of $23.6 billion and circulating market value of $600 million! At current prices, that’s $15 million worth of tokens unlocked daily for 730 days! Will this flood lead to a crash to zero, or is it a setup for a major move? Crush them to rebuild?
It’s best to avoid touching this coin in the spot market in the short term!
Massive unlocks have left investors battered, and the battle over existing supplies will determine the future direction of these coins.
Recently, various projects have started releasing large amounts of chips such as WLD, ENA, ETHFI, etc. After crowdfunding financing, there is no continuous hematopoietic ability, and the ultimate profit method can only be to cut leeks. If the leeks cannot be cut, they will cut leeks within the industry. A certain project jointly united various investment institutions to participate in the primary market through crowdfunding and agreed to guide leeks into the market through the driving effect of various investment institutions, and then share the money of the leeks.
From various behaviors in the market, we are still in a stock market environment. Overseas institutions have incremental funds, most of which are involved in Bitcoin. Therefore, Bitcoin has performed strongly recently, while other currencies need to observe whether there are speculative expectations. This raises a question: the speculation of mainstream currencies such as ETH and SOL is based on stock funds, while the speculation of Bitcoin is based on incremental funds.
Therefore, it can be expected that in the near future, mainstream currencies led by ETH and SOL will fluctuate repeatedly within a certain range, while Bitcoin may fluctuate upwards. Subsequently, ETH, SOL, etc., will also begin to differentiate. Those with speculative expectations will receive more capital favor, while those without speculative expectations will continue to oscillate downwards. Thus, we can conclude that in the coming time, Bitcoin will continue to rise, while mainstream currencies will experience significant differentiation, with strong currencies experiencing post-rise corrections and weak currencies continuing to fluctuate downward. The logical basis for this conclusion lies in the increment and stock of funds.
How to Layout
Yesterday’s gainers on the leaderboard were all small coins, with no movement from the leaders. The AI sector has been unable to rise with WLD’s leadership, still talking about the old topic, lack of funds! The MEME sector shows signs of starting, PEPE, BOME are making small steps forward, focus on layout in the near future. Patience is required, endure loneliness, and hold prosperity! Markets often emerge in despair.
