Exchange Worldcoin (WLD)

Worldcoin (WLD) is an innovative blockchain project with a grand mission: to create the world's largest identity and financial network as a public utility, ensuring ownership and empowerment for everyone. Built upon the foundation of the World ID system, Worldcoin strives to redefine the way individuals engage with digital identity verification and financial transactions.

Worldcoin was founded by Sam Altman, Alex Blania, and Max Novendstern (with Max Novendstern's departure in July 2021). Sam Altman, a prominent figure, is also the CEO of OpenAI and a former president of Y Combinator. The project's initial research and development were carried out by Tools for Humanity (TFH) and other partners.

Central to the Worldcoin ecosystem is the World ID system, a groundbreaking privacy-preserving global identity network. World ID leverages cutting-edge zero-knowledge proofs to enable users to verify their humanness online while safeguarding their privacy. This unique "Proof of Personhood" mechanism assures identity verification without compromising personal data.

To participate in the Worldcoin protocol, individuals are required to download the World App, the first wallet app that facilitates the creation of a World ID. The verification process takes place through physical imaging devices known as Orbs. These Orbs, often operated by independent local businesses termed Orb Operators, utilize multispectral sensors to verify humanness and uniqueness. Importantly, all images are promptly deleted on-device by default, ensuring privacy unless explicit consent to Data Custody is granted.

World ID's potential extends beyond blockchain transactions. It empowers individuals to prove their unique human identity to various platforms, including web3 systems, social networks, and governmental programs. This opens avenues for fair airdrops, protection against bots and Sybil attacks, and equitable distribution of limited governmental resources. Moreover, World ID lays the groundwork for global democratic processes and novel forms of governance, possibly leading to AI-funded Universal Basic Income (UBI).

Worldcoin enjoys support from two pivotal organizations: The Worldcoin Foundation and Tools for Humanity.

The Worldcoin Foundation, established as a non-profit entity, is dedicated to nurturing and advancing the Worldcoin community until it attains self-sufficiency. Its efforts encompass initiatives such as fostering a robust developer community, disbursing grants, and establishing avenues for user participation in protocol governance.

Tools for Humanity (TFH) stands as a global technological firm with a mission to expedite the shift toward a more equitable economic system. TFH spearheaded the initial development of the Worldcoin protocol and remains steadfast in constructing essential tools and providing assistance for the Worldcoin protocol's operation, including oversight of the World App. As time progresses, TFH's role will extend to crafting vital tools not only for Worldcoin but for broader applications.

As the Worldcoin protocol evolves and broadens its scope, it is foreseeable that additional enterprises will align to bolster its expansion. 

Worldcoin introduces the WLD token, designed both as a utility token and a governance instrument. Orb-verified World ID holders are eligible to claim recurring grants of free WLD tokens, contributing to a widely distributed digital currency. The token also empowers users with a stake in the protocol's future through governance mechanisms. Unique to Worldcoin is the potential for "one-person-one-vote" governance, enabled by the World ID system, in addition to conventional "one-token-one-vote" mechanisms.

The Worldcoin project was launched with an initial total supply of 10 billion WLD tokens. This supply cap will remain fixed at 10 billion WLD for the first 15 years post-launch, enforced through the WLD smart contract. Following this initial period, there exists the potential for governance to introduce an inflation rate of up to 1.5% annually, should it be deemed necessary to ensure the protocol's long-term sustainability. This inflation rate, capped at 1.5% per year, is also embedded within the WLD smart contract, with the default setting initially established at 0% unless modified through governance consensus.

The distribution of the 10 billion WLD tokens is categorized among different stakeholders as outlined below:

• 75% of the WLD tokens are allocated to the Worldcoin community.
• 9.8% of the WLD tokens are allocated to the Initial Development Team.
• 13.5% of the WLD tokens are allocated to TFH Investors.
• 1.7% of the WLD tokens are allocated to the TFH Reserve.

The Worldcoin Foundation has articulated an ambitious token allocation objective, striving to dedicate a minimum of 60% of all WLD tokens derived from the Worldcoin Community pool to individuals through user grants. Further details regarding this allocation strategy can be found in the Worldcoin Tokenomics section of the project's comprehensive whitepaper.

The WLD token's utility extends beyond governance. Users may utilize WLD tokens to pay for actions within the World App or other wallet apps, conduct transactions, or express support for specific initiatives or causes.

Worldcoin's vision has garnered significant financial backing, having raised over $250 million USD from notable investors including a16z, Khosla Ventures, Bain Capital Crypto, and Tiger Global. With the aim of achieving global adoption on an unprecedented scale, Worldcoin envisions a future where the majority of WLD tokens are distributed directly to individuals, promoting inclusivity and ownership.

Individuals who have undergone the process of verifying their distinctiveness using an Orb are entitled to redeem complimentary Worldcoin (WLD) tokens through their World App, provided they are situated in a region where the WLD token is accessible. Currently, qualified and verified users have the opportunity to acquire one free WLD token per week, and there exists no upper limit on this allowance. This consistent allocation is applicable across all eligible regions.

Average Fees on WLD

ERC-20 tokens like WLD on the Ethereum network typically involve gas fees for transactions, which can fluctuate based on network congestion and demand. Optimism is a Layer 2 scaling solution for Ethereum that aims to reduce transaction fees and increase throughput. Fees on Optimism would generally be lower compared to the Ethereum mainnet.

The fees for withdrawing, depositing, and transferring the tokens will also vary depending on the platform one uses. Normally those fees will vary from 0,1% to 0,3%.

WLD Token Wallets

As an ERC-20 token, WLD can be stored in numerous wallets supporting the tokens on the Ethereum network, such as Ambire Wallet, Atomic Wallet, Binance Chain Wallet, BitKeep, BitPay, Coinbase, Coin98, XDefi, Wirex, etc.