The cryptocurrency project Worldcoin was officially launched at noon yesterday (24th), and it is currently listed on mainstream exchanges such as Huobi, Binance, OKX, etc. And the price of $WLB, which the public is concerned about, once went up to $3.35 a piece after Huobi was launched, but then continued to pull back, and it is now quoted at $2.03 before the deadline.
What are Worldcoins?
Worldcoin is a cryptocurrency project co-founded in 2020 by Sam, the founder of OpenAI. It expects to create an open source protocol for global financial fairness and inclusiveness. The vision is to build the world's largest and fair digital identity and digital currency system, and realize identity authentication by scanning the iris of everyone's eyeballs on the planet. Millions of people's eyeballs have been scanned so far.
There are currently three main tasks that Worldcoin is working on:
- WorldID: digital identity based on privacy protection and personality proof
- WorldCoin: the first token to be distributed freely to people worldwide, plans to distribute to 1 billion people
- WorldAPP: Wallet for payments, purchases and transfers worldwide
How to register an account?
(1) First, please go to Google Play or App Store to download the official World App.
(2) After opening the app, please check the agreement to the terms of use, and select the New account button.
(3) Next, the system will ask you to enter your mobile phone number (accept the verification code) and set a personal password.
(4) After completion, your account will be created automatically.
*The following teaching page is demonstrated by Apple mobile phone
How is scanning the iris done?
(1) Next, if you have an Orb iris scanner by your side, you can click "Yes, verify now" to verify your account. But it should be noted that there is no Orb machine in Taiwan yet. (nearest location is in Hong Kong)
(2) If you happen to be in a country with an Orb scanner, or are about to go there, you can make an appointment on the App first. Please go back to the official homepage first, scroll down the page and click "Verify with an Orb".
(3) Next, please click the button in the upper right corner to select the country you want to verify, and the system will automatically list the locations where iris scanning can be performed. (For the demonstration page, we choose Hong Kong)
(4) As we can see in the picture below, there are three locations in Hong Kong that provide Orb iris scanning services. Choose the place you want to go to, make an appointment time, and leave your name and mailbox to make an appointment.
(5) After completing the iris scan, your World ID on the home page will turn black (it was originally gray and showed Not Verified), and then you can apply for WLB tokens from the official.
Initial airdrop of 25 $WLD
According to the official white paper released by Worldcoin, the native token WLD has been launched on Layer2’s Optimisim mainnet, with a supply limit of 10 billion pieces. WLD can be used to vote on the governance of the agreement, pay WLD to use World App and other wallet applications, or trade goods and services. In the long run, WLD hopes to become a global store of value.
The initial maximum circulation of WLD at the launch of this week is 143 million, of which 43 million WLD will be allocated to users who have passed the biometric device Orb verification during the pre-launch phase of the project, and 100 million WLD will be loaned to market makers outside the United States.
The token distribution aspects of WLD are as follows:
- 75% will be allocated to the Worldcoin community, most of the tokens will be allocated to users, and some tokens will be allocated to ecological funds and network operations
- 9.8% allocated to the initial development team, primarily Tools for Humanity (TFH) and other service providers
- 13.5% allocated to Tools for Humanity investors
- 1.7% will be reserved for Tools for Humanity
It is understood that WLD tokens will first be distributed to more than 2 million users participating in the test around the world. Every Orb verifier will receive the initial 25 WLD tokens, and will also receive regular airdrops in the future, but the official has not yet announced the details.
Further reading: How does Worldcoin make money in the end? It’s enough to make a lot of money just by “taking a handling fee” for identity verification
WorldCoin has a negative controversy
Finally, it is worth noting that the promotion process of the WorldCoin project has been controversial before, and it has been banned by many countries due to potential security risks to private data. It is even rumored that a Chinese KYC dealer collects irises from local villagers in Cambodia, Kenya and other places, and then sells the verified World ID to Chinese users at a low price to obtain airdrop rewards. Readers will continue to pay attention to how the project will develop in the future.
Further reading: "Worldcoin Chaos" China asks Cambodians to scan irises "airdrop", and the black market receives 30 mg once
