Altcoin Developers Modify Token Unlock Dates, Leading to an Incredible Surge
The official blog site of this altcoin recently featured a post announcing that the developers have made changes to the token lock opening schedule. This decision has had a significant impact on the market, resulting in a remarkable surge in the altcoin’s value.
The Worldcoin Foundation revealed that the unlock program for WLD tokens held by Tools for Humanity (TFH) investors and team members will now be extended from 3 years to 5 years. This adjustment affects approximately 80% of the WLD tokens owned by these individuals.
TFH, an early contributor to the Worldcoin project, played a crucial role in its initial development and continues to support the Worldcoin Foundation. They are also responsible for operating World App, the first Worldcoin compatible wallet.
The WLD tokens were initially allocated to TFH’s investors and team members, including employees, consultants, and other service providers, as a reward for their contributions since the company’s establishment in 2019. These tokens were locked to allow the protocol to mature before the recipients could access their allocations. As a result, these tokens have not yet entered the circulating supply of WLD.
According to the original plan, starting on July 24, 2024, the first batch of WLD tokens would have been released from lockup and entered the circulating supply. The tokens were initially subject to a three-year lockup period, during which no transfers were allowed for one year following the launch of the Worldcoin protocol on July 24, 2023. Subsequently, the tokens would have been unlocked gradually over the next two years, with the majority of the TFH tokens being released from lockup by the end of July 2026.
However, this week, the unlock schedule for approximately 80% of the 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 modification, the affected 80% of TFH tokens will now be unlocked more gradually, on a daily and linear basis, over the next four years. The unlocking process for almost all of these tokens will be completed by the end of July 2028, five years after the protocol was launched.
Following this development, the WLD token experienced a significant price increase, indicating a positive market response to the changes made.
It is important to note that this information is not intended as investment advice. If you are interested in investing in cryptocurrencies, you can explore over 300 options on the Binance exchange, with a 20% commission discount available through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
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