Worldcoin faces ‘scam’ allegations after extending token lockup by 2 years

[Yamane_Keto]

On July 16, Worldcoin developer Tools for Humanity (TFH) announced changes to its native token unlock schedule. The organization extended the unlock schedule for 80% of Worldcoin (WLD) tokens held by its investors and team members.

The tokens were initially set to be unlocked over three years. However, the new update pushes the unlock to over five years, beginning on July 24. With this, WLD tokens will be unlocked progressively in the next four years, concluding in July 2028.

With the extension, fewer tokens will be released into the market immediately, preventing an increase in supply that may lower the price significantly.

A day after the announcement, WLD prices showed a 68% increase in just two days, making it one of the top gainers, according to crypto data tracker CoinGecko. WLD pumped from $1.90 on July 15 to $2.81 on July 16. The token’s price increased further on July 17 to $3.20 before correcting to $3.11

https://www.binance.com/en/square/post/10921186166169


Out of a total supply of 10 billion tokens, only about 278 million tokens were circulated, that means that the high FDV is intentional and intentionally manipulates the price of the token due to the limited circulating supply, which will allow those who know this information in advance to earn millions.


If you are planning to invest in any token, make sure that most of the quantity offered is known and traded and not a very small percentage, otherwise, with the first bump, you will lose your investments.

[bee]

They have a listing price of around $1.9 according to the icodrop site, I think that's the low price they want to keep. WLD once reached $12 which was their ATH and this drop (close to the listing price) was not their expectation at all. I'm sure they have a bad scenario if the opening of the remaining tokens is carried out according to the original plan.
However, it was not a good decision if they wanted to build good integrity among the community. They deserve the blame.

[MrSpasybo]

They have a listing price of around $1.9 according to the icodrop site, I think that's the low price they want to keep. WLD once reached $12 which was their ATH and this drop (close to the listing price) was not their expectation at all. I'm sure they have a bad scenario if the opening of the remaining tokens is carried out according to the original plan.
However, it was not a good decision if they wanted to build good integrity among the community. They deserve the blame.

The popularity of WLD is closely linked to ChatGPT and it has experienced a period of impressive growth that has exceeded investor expectations. However, due to the sharp drop in price from $12 to $1.7, many negative news stories have emerged and there have even been allegations of fraud against Worldcoin. I am not surprised by this, it is the extreme mentality of investors and KOLs who need popularity.

The opposite could happen when the WLD price recovers and resumes growth along with the market in a bullrun and altseason. WLD exists not only thanks to ChatGPT but also to SocialFi and ID-on-blockchain, which could be major market trends in this and next cycles. We still have a lot of time to wait and see what will happen to WLD

[Zed0X]

It's not a good sign even if their aim is to hold the price above $1 or their listing price. Eventually, the people who bought will sell and that might cause the price to drop to cents. What will the team do next by then? Will they extend two more years?

[ABCbits]

It's not surprising when Worldcoin have dubious privacy claim, which make several government take action against them. People who already own some WLD should reconsider whether to hold it.

It's not a good sign even if their aim is to hold the price above $1 or their listing price. Eventually, the people who bought will sell and that might cause the price to drop to cents. What will the team do next by then? Will they extend two more years?

In addition, those who joined WLD airdrop (by letting their eye iris scanned) are more likely to sell their WLD quickly. I also expect they'll try more drastic approach, such as token burning.

[Yamane_Keto]

WLD once reached $12 which was their ATH and this drop (close to the listing price) was not their expectation at all. I'm sure they have a bad scenario if the opening of the remaining tokens is carried out according to the original plan.

It's not Bitcoin and I don't remember an altcoin falling this much and then going back up again, coins that rise and fall so much are scams and monitoring liquidity indicators may reinforce these accusations.

It's not a good sign even if their aim is to hold the price above $1 or their listing price. Eventually, the people who bought will sell and that might cause the price to drop to cents. What will the team do next by then? Will they extend two more years?

The impact on the price by reducing liquidity will lead to a temporary rise, but a correction will soon occur.

[Stompix]

Oh, no, surprised Pikachu face!

It's not surprising when Worldcoin have dubious privacy claim, which make several government take action against them.

Privacy? You're getting one of the things you can never change in a database, you can drop your name and address, but good luck changing your biometrics, and now you give all that to a shady company for a few $!
On one hand you have people screaming about privacy and using DEXs, and on the other you have this:
https://blockworks.co/news/worldcoin-privacy-concerns

[ABCbits]

It's not surprising when Worldcoin have dubious privacy claim, which make several government take action against them.

Privacy? You're getting one of the things you can never change in a database, you can drop your name and address, but good luck changing your biometrics, and now you give all that to a shady company for a few $!

Just to be clear, i mean their privacy claim sound very shady and cannot be trusted when i use word "dubious".

On one hand you have people screaming about privacy and using DEXs, and on the other you have this:
https://blockworks.co/news/worldcoin-privacy-concerns

That was interesting read. And i guess Worldcoin now give rise to marketplace which buy/sell Iris data.

[alogan]

Since inception this was a very controversial project and this had deeps conection with security, the moment you sold your Iris you had allowed them to build a huge portfolio wich governments might be about to use, where they can control and censorship everyone.

And it was a cheap to collect milions of Iris, before countries fight back, the thing is CHATGPT sucess has nothing to do with this coin , despite market reactions to news related to CHATGPT, and it had happened several times, AI still in early days, and we are only at 1% of its potencial, but the question remains, till where it can be allowed to grow before become a threat to Humanity?

[ABCbits]

Since inception this was a very controversial project and this had deeps conection with security, the moment you sold your Iris you had allowed them to build a huge portfolio wich governments might be about to use, where they can control and censorship everyone.

And it was a cheap to collect milions of Iris, before countries fight back, the thing is CHATGPT sucess has nothing to do with this coin , despite market reactions to news related to CHATGPT, and it had happened several times, AI still in early days, and we are only at 1% of its potencial, but the question remains, till where it can be allowed to grow before become a threat to Humanity?

But we can't deny worldcoin partly obtain it's popularity since it's created by OpenAI executive. And whether ChatGPT or other AI could be threat to humanity have no direct correlation with worldcoin.