Worldcoin Announces a Plan to Sell WLD Tokens for Up to Six Months

Worldcoin announces a strategic token sale plan, potentially increasing WLD's total supply by 18.65%, while introducing safeguards like a 40-day lock-up to mitigate price impacts.

This extensive sale aims to strengthen the network and ensure sustainable growth.

Introduction to Worldcoin's WLD Token Sale Plan

On April 23, 2024, Worldcoin (WLD) announced its intention to support the growth of the Worldcoin network by selling between 500,000 to 1,500,000 WLD tokens each week for a period of up to six months.

This move is aimed at enhancing the liquidity and supply of the WLD tokens in circulation.

Implementation by World Assets

The sale of the virtual currency WLD will be conducted by World Assets, a subsidiary of the Worldcoin Foundation. The organization plans to offer WLD tokens stored by them to institutional investors in the United States.

The sales are expected to begin in the coming months and will continue on a weekly basis, ranging from 500,000 to 1,500,000 tokens, potentially totaling up to 36 million WLD at the end of the six-month period.

Given that the current circulation of WLD tokens is at 193 million, this increase represents an 18.65% rise in the total supply of WLD.

Measures to Mitigate Impact on Price

Despite the potential impact on Worldcoin's price due to the large-scale sale, measures are in place to mitigate any adverse effects on the token's value.

Specifically, restrictions will be imposed on the resale of WLD by U.S. residents and on sales platforms accessible to U.S. residents. Additionally, institutional investors who purchase WLD may face a 40-day lock-up period to prevent immediate resale.

The private sale of the tokens will aim to align as closely as possible with market prices through individual negotiations.

Current Price Trends of WLD

Despite peaking at around $12 on March 10 this year, the price of Worldcoin (WLD) has been on a declining trend. As of April 25, 2024, the price stands at $4.80 per WLD.