Worldcoin (WLD)
World (WLD) is an ERC-20 cryptocurrency token and digital identity project launched on the mainnet on July 24, 2023. This initiative was spearheaded by Sam Altman, the CEO of OpenAI.
Overview of World
World, originally known as Worldcoin, is an iris biometric crypto project developed by Tools for Humanity, based in San Francisco and Berlin. The project was founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania, with backing from venture capital firm Andreessen Horowitz. The project involves an eye-scanning device known as the "orb," which provides users with a unique digital identity to verify their personhood.
Proof of personhood (PoP)
World's Proof of Personhood (PoP) mechanism is essential for applications like global Universal Basic Income and AI governance. It issues World IDs through biometric verification devices, ensuring uniqueness and preventing fraud. The PoP process involves users, issuers, and verifiers, integrating features for security and privacy preservation.
| Ticker | WLD |
| Category | Smart Contract Platform |
| Website | https://worldcoin.org/ |
| @worldcoin | |
| Telegram | worldcoin |
| Contract Addresses | |
|---|---|
| ethereum | 0x16...53 Copied! |
| optimistic-ethereum | 0xdc...f1Copied! |
| world-chain | 0x2c...03Copied! |
Decentralization
Decentralization is a core principle of the World ecosystem, ensuring permissionless and decentralized operation. The protocol supports custom wallets and open standards for interoperability. It includes measures like audits, biometric device development, and fraud prevention to maintain the integrity of World IDs.
Products
World ID
World ID provides privacy-preserving proof of personhood, allowing users to verify their identity online through zero-knowledge proofs with a device called the Orb. The Orb facilitates AI-safe proof of personhood verifications without storing personal data.
World App
Launched on May 8, 2023, the World App serves as the first wallet and user interface for the World ecosystem. It guides users through verification with the Orb and manages World ID credentials. The app enables users to authenticate their identity, obtain World tokens, and engage in digital transactions.
Funding rounds
On October 21, 2021, the World project raised $25 million in a Series A funding round led by Andreessen Horowitz. Subsequently, on March 23, 2022, an additional $100 million was raised through an initial coin offering (ICO). In May 2023, a Series C funding round led by Blockchain Capital raised $115 million to support various project developments.
WLD tokenomics
The initial total supply cap for WLD tokens is 10 billion. The majority of these tokens are intended for individuals verifying their uniqueness. The WLD token, along with World ID, plays a role in protocol governance and forms the foundation of the identity and financial network. Governance may decide on an inflation rate post-launch for sustainability.
Token allocation
The token allocation includes 75% for the World Community, 13.5% for TFH investors, 9.8% for the Initial Development Team, and 1.7% for the TFH Reserve.
World Foundation
The World Foundation is a non-profit organization incorporated in the Cayman Islands. It aims to foster inclusive and equitable governance and digital economy institutions. The Foundation stewards the World protocol, supporting its ecosystem until it becomes self-sufficient.
Governance
The World Foundation is governed by a board with three directors. It utilizes a multi-signature wallet for actions related to Worldcoin’s smart contracts and involves various advisors and contributors in its governance framework.