Worldcoin Foundation announced that the unlock program for WLD tokens held by Tools for Humanity (TFH) investors and team members will be extended from 3 years to 5 years.
This change affects approximately 80% of WLD tokens held by these token holders.
An early contributor to the Worldcoin project, TFH was instrumental in the initial development of Worldcoin and continues to serve the Worldcoin Foundation. They also operate World App, the first Worldcoin compatible wallet.
WLD tokens were allocated to TFH's investors and team members, including employees, consultants, consultants and other service providers, for their contributions since the company's founding in 2019. These tokens are locked to allow the protocol to mature before these groups access their token allocations. As a result, these tokens have not yet entered WLD's circulating supply.
Starting on July 24, 2024, the first of these WLD tokens will begin to open and enter WLD's circulating supply. The original plan was for these tokens to be subject to a three-year lockup program and no transfers possible for one year following the launch of the Worldcoin protocol on July 24, 2023. The tokens would then be unlocked daily and linearly over the next two years, with almost all of these TFH tokens being released from lockup by the end of July 2026.
However, this week, the unlock schedule for approximately 80% of TFH investor and team member WLD tokens was extended from 3 years to 5 years. The first year of the unlock program for these tokens remains unchanged. With this change, the affected 80% of TFH tokens will be unlocked more gradually: daily and linearly over the next four years. The unlocking process for almost all of these tokens will end at the end of July 2028, five years after the protocol was launched.
Following the development, a strong increase was observed in the WLD token price:
*This is not investment advice.