World Assets Ltd. Extends Loan Agreements with Trading Firms, Keeping 10M WLD Tokens in Circulation
Rebeca Moen May 31, 2024 11:08
World Assets Ltd. extends loan agreements with trading firms, maintaining 10M WLD in circulation until June 2025.
World Assets Ltd., a subsidiary of the Worldcoin Foundation, has announced the extension of its loan agreements with five trading firms, ensuring that 10 million Worldcoin (WLD) tokens will remain in circulation until June 14, 2025, according to Worldcoin.
Extension of Loan Agreements
Initially set to expire on June 14, 2024, the loan agreements, which were established on December 16, 2023, involved five trading entities operating outside the United States. Under these agreements, each entity received loans totaling 10 million WLD tokens. The extension maintains all other terms unchanged, requiring the firms to return the full loan amount by the new expiration date.
Impact on Circulating Supply
The extension decision means that the 10 million WLD tokens on loan will continue to be part of the circulating supply. This move is significant as it affects the total amount of WLD available in the market, which currently stands at 223 million tokens. Of these, 167 million WLD have been distributed through user grants in compliance with local regulations.
Worldcoin's Broader Ecosystem
Worldcoin aims to equip humanity with tools to navigate the age of artificial intelligence. One of its flagship projects, the World ID, is a secure digital passport that has garnered over 5.4 million orb-verified users. This ID enables individuals to prove their human identity online, enhancing security and privacy.
Despite the restricted availability of WLD tokens in the United States and other specified territories, Worldcoin's related services, including the World ID and Tools for Humanity’s World App, remain accessible in the US. This ensures that the broader ecosystem continues to serve its user base effectively.
Regulatory Considerations
It's crucial to note that WLD tokens are not available to residents or entities in the United States or other restricted regions. However, the extension of the loan agreements highlights World Assets Ltd.'s commitment to maintaining liquidity and stability within the permissible markets.
The continued circulation of these tokens ensures that the trading firms can operate with the necessary liquidity, potentially fostering market stability and confidence among investors and users.
Worldcoin's proactive steps in extending these agreements reflect its strategic approach to managing its circulating supply and supporting its broader mission of facilitating a secure and accessible digital future.
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