The Worldcoin Foundation will phase out USDC rewards in favor of Worldcoin (WLD) token rewards for its Orb operators by early November. Orb operators conduct retinal scans of users who want to join the Worldcoin network. Previously, they were rewarded in USDC, but now the ecosystem development fund intends to change this approach.

On October 10, 2023, the organization launched a pilot program in which some operators were rewarded in WLD. According to the fund, this will strengthen the position of the token and increase its circulating supply. The Worldcoin Foundation expects the transition to the new reward system to be fully completed in November 2023. The new rules will not affect operators in the United States; the WLD token is not available to users from this jurisdiction.

The organization decided to extend the agreement with market makers. During the launch phase of the project, five organizations received a loan of 100 million WLD. These agreements expire on October 24, 2023. World Assets Ltd., a subsidiary of the fund, has decided to extend the agreements until December 15, 2023. At the same time, the company will reduce the total loan amount to 75 million WLD. On October 24, 2023, market makers will be forced to return 25 million WLD or buy back tokens. In this regard, a reduction in circulating supply is expected.

Image: Altcoin Buzz

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