How to Participate in Worldcoin? A Brief Analysis of Worldcoin's Vision, Features, and Token Information
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How to Participate in Worldcoin? A Brief Analysis of Worldcoin's Vision, Features, and Token Information
Airdropping to billions is just the beginning.
Navigating Web3 tides with focused insightsAuthor: Gmer.eth
Recently, Worldcoin has been gaining increasing attention. This crypto project initiated by the founder of OpenAI has once again moved into the spotlight. However, some people still don't understand what this project is about. This article will explain what Worldcoin is and explore World ID, World App, and its token.
Introduction to the Worldcoin Project
Worldcoin is a crypto project founded by Sam Altman, co-founder of OpenAI. Currently, most people worldwide lack a digital method to verify their identity. Worldcoin's vision is to build the world’s largest and fairest digital identity and currency system, helping every individual access the global financial system.
Worldcoin consists of three main components: identity ID, global currency, and a wallet platform:
- World ID: A privacy-preserving digital identity that proves uniqueness
- Worldcoin Token: A token freely distributed globally to individuals for utility and future governance
- World App: A fully self-custodial app enabling users to make payments, purchases, and transfers globally using Worldcoin tokens, digital assets, stablecoins, and traditional currencies
Funding Background:
Worldcoin boasts an elite list of investors, including top-tier firms such as a16z, Coinbase, Multicoin Capital, and 1confirmation. Angel investors include the founder of LinkedIn, SBF, the founder of Mirror, and founders of multiple Ethereum projects, Polkadot, and the Web Foundation. The project raised $125 million across two funding rounds and is currently seeking an additional $100 million in financing.
Introduction to World ID and Token
World ID: A foundational identity protocol powered by zero-knowledge proofs, allowing proof of personhood while maintaining high privacy. It uses a unique biometric device called Orb (which scans irises) to verify an individual's uniqueness. In simple terms, you scan your eyes in front of the Orb to obtain your ID.
Let's Introduce the Token First
The whitepaper is expected to be released in about two months. Token name: WLD, with a total supply of 10 billion tokens.
Tokenomics:
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8 billion tokens are allocated to the community ("us");
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1 billion tokens will fund the long-term development of the Worldcoin protocol, including developer grants;
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1 billion tokens will go to contributors, the protocol team, and investors.
The token launch is expected before the end of June.
Finally,
I believe this is a truly ambitious project. How can we bring more people into cryptocurrency and build a global digital currency system so they can benefit from decentralized finance? Perhaps Worldcoin will provide the answers in the future.
A few additional notes:
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There are no Orb verification locations in mainland China, and it's unlikely there will be any in the future;
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After downloading the app, the process is: create an account, phone number verification can be skipped, then a QR code appears indicating that iris verification is required—once verified, you're approved.
World App Tutorial
The carrier for ID and Coin.
Through the World App, we can create an ID account, generate a wallet, perform transfers, buy crypto, claim WLD & BTC, apply for Grants, and trade on CEXs. More features are coming in the future.
Current partners include: Uniswap, ens.eth, Circle, Safe, Moonpay, and Ramp.
Registration link: https://worldcoin.org/download-app
1. Download the World App;
2. Create an account and remember to back up your password;
3. Complete phone and iris verification;
4. After verification, claim your airdropped token — 1 WLD. One WLD is airdropped weekly, possibly monthly later; currently in early stages;
5. Participate in weekly tasks—nine weeks total. The first task (a quiz) is very simple. Each completed task rewards BTC worth $1.
App interface shown in images
Additional Notes
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Currently, the app only supports Polygon chain (beta version); future support for Ethereum mainnet is planned;
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Send USDC instantly with zero fees via name, phone number, ENS, or address;
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I just transferred WBTC to an address—zero fees and arrived almost instantly;
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The transfer page supports ENS-based transfers;
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The app currently supports WETH, WBTC, DAI, USDC, and Beta WLD. More tokens and decentralized applications will be supported soon;
What Can We Do?
Try to complete the iris scan. Once verified, go to any channel in Discord and type /verify to get your role. Remember to complete tasks after receiving the airdrop;
Mint the OP commemorative NFT: https://optimism.decent.xyz (Management has clarified that both the mainnet and OP commemorative NFTs serve only a commemorative purpose.)
Join the Discord to stay updated: https://discord.gg/worldcoin
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Gmer.eth
