Original - Odaily
Author - Loopy
The WLD token has been rising since early morning today. This may have something to do with the release of World ID 2.0. Whats new in World ID 2.0? How much imagination can be given to World ID?
WLD surges
OKX Ouyi market shows that as of the publication of this article, the price of WLD token is 2.6 USDT, a 24-hour increase of 10.88%.
Coingecko data shows that WLD’s circulating market capitalization is only US$310 million, and Coingecko’s market capitalization ranking is far outside the 100th place.
In terms of market capitalization, Worldcoin does not match its huge attention. And this is also determined by its weird token model. The initial circulation of WLD tokens is extremely low, but the amount to be unlocked will be huge in the future. Coingecko data shows that WLD’s FDV has reached approximately $26 billion.
For a nascent project, this FDV is particularly dazzling. We cannot say whether this is due to high valuation or because the project is too good.
At the beginning of its launch, WLDs high lock-up and extremely low circulation aroused doubts among investors and the community. The total supply of WLD is 10 billion, but the maximum initial circulation is 143 million. Among these more than 100 million tokens, up to 100 million WLD will be lent to market makers as loans for market making use by market makers.
And in October this year, market makersRepayment of loansThe incident also once triggered discussions about WLD tokens.
Today, with the update of World ID 2.0, this project has once again made significant progress and achieved a new milestone.
Whats new in World ID 2.0?
Official information states that after the 2.0 update, it will become easier to distinguish between robots and humans. The new World ID can be integrated with other applications. By using World ID instead of the traditional account/password system, this can help users greatly protect their privacy, and for applications, they also gain a way to protect user privacy. A low-cost way to identify real users.
Worldcoin bluntly stated that this will be a powerful, privacy-focused “human” digital passport. The project party will recommend the inheritance of more popular apps and new services.
According to the information disclosed so far, the protocol has been integrated with popular apps including Shopify, Mercado Libre, Minecraft, Reddit, Telegram, Discord, Talent Protocol, Auth 0, etc.
Specifically, users will be able to use World ID to log in to these websites or services in the future.(After authentication, you can use World ID to log in to Discord)
And Worldcoin also provides developers with a new, high-performance developer platform, allowing builders to easily integrate Log in with World ID functionality into their applications.
Currently, Worldcoin has launched the app store function, and users can see applications that have integrated World ID in the app store. Data disclosed by Worldcoin shows that as of the end of November, the number of World ID verifiers has exceeded 2.5 million.
As the update rolls out, World ID 2.0 provides more ways for people to use their World ID according to the security needs of the application, ensuring individuals dont share more information than they need or want.
Additionally, another major upgrade is the update to the verification level. After the update, World ID will have three levels. And for users, their World ID can be used even if they havent had the opportunity to authenticate (i.e., iris scan) on the Orb yet.
The project team stated that this provides developers with more different levels of verification methods, from device verification (high convenience and accessibility) to Orb verification (additional face authentication for high security use cases), which can meet different needs. verification requirements.
How is the recent progress?
Currently, Worldcoin’s human verification service (known as “iris scanning”) has been expanded to Mexico and Singapore. Recently, the Worldcoin project itself has also undergone some new developments and trends.
Previously, the huge loan agreement that once plagued the community came to an end earlier this month. On December 5, Worldcoin finalized a new agreement with five market makers and planned to provide a total of 10 million WLD loans. The agreement takes effect on December 16.
Under these agreements, the five market makers will receive significantly smaller loans than before, currently totaling 10 million WLD with a 6-month term. Therefore, the circulating supply of WLD will increase by 10 million on December 16. The market maker must repay the loan in full after 6 months and may not choose to purchase any WLD from World Asset Ltd.
Earlier this month, the Worldcoin Foundation announced a $5 million community grant program called “Wave 0.” The grants are intended to allow developers to focus on building resilient technologies and fairer systems. The foundation will commit $5 million in funding through three funding channels and will be made available in the form of WLD tokens.
In addition to this, Worldcoin operator rewards have now transitioned from USDC to WLD.
Data monitored by Scopescan shows that after the launch of World ID 2.0, they found that a large number of WLD tokens had been withdrawn from CEX and entered the on-chain world.
Judging from the efforts of the project team, WLD tokens continue to improve. But we still don’t know how long this rally will last.
