Before you invest in this WLD (worldcoin) remember these 5 things I'm sharing ahead in the blog but before that let's have a tldr behind the concept of this coin.
Worldcoin: A blockchain-based digital passport platform
You heard it right, digital passport platform which won't allow you to travel around the world but instead it gives you identity that you're a real Human not Ai.
You gotta Dox yourself by going at some device called "ORB" which will scan your face, gonna keep that data (trust me, your data/info is safe ~ according to them) and for return you'll get "25 WLD".
Sounds like more than a Ponzi, Pyramid scheme - right? Here's a blog by @l337m45732, explaining how's this Worldcoin is the weirdest crypto Scam.
Now after the launch of WLD (worldcoin) I have found some things you should know before investing in it.
1. WorldCoin (WLD) - Coins in Circulation, FDV
The first thing you need to know is WLD Tokenomics and the way it's distribution is happened with circulating supply.
It is ERC-20 token on Ethereum Mainnet and users have received their Grants "airdrop" on optimism (OP) Mainnet.
The thing is Tokenomics is geofenced and can't see it as of now
This is coin distribution chart and just 25% of WLD is allocated for team and foundation of project locked for the 12 months while rest of 75% of total supply will be for public.
Now the part that made me think twice is "FDV + current supply in circulation".
As of now only 1% of supply is in circulation while FDV is already $22b and rising.. which looks absurd, High FDV means WLD shares is highly diluted.
and makes it way too overpriced IMO and VC's have more of share.
2. WorldCoin (WLD) - Market Maker (MM's)
Secondly, this thing I found about WLD is where you need to put more focus.
So, WLD had an agreement with Market Maker (MM) where they've given 100M (million) WLD coins as a loan for 3 months after token launch.
The part where it Gets more interesting is "They can Dump on You" as They have incentive to sell the full stack above ~$2.80 and later buyback lower to payback loan.
As well as you can see 43m WLD is airdropped to verified users.
3. WorldCoin (WLD) A CBDC
This is a coin that makes thing a bit more centralized since it have your identity and genuinely what CBDC looks like.
It could be looked, stolen or privacy and security theft which is something Vitalik has also raised his concern.
It's said that is made for proof of personhood mean your personality on internet is real not a fake individual or ai behind it which is literally something every other person can easily tell who's legit, fake, bot or Ai.
Wrapping Up...
In the end, The WLD made a ATH of $5 today on launch and as you know MM had got huge loan, they've dumped on retail investors which was in the orderbooks is now trading almost at $2.1 and as well as futures are live.
People are shorting and all these things kinda made me think it's better to touch the grass and stay away from the coin without getting fomo'd into it cuz it's by ChatGPT founder.
Based on those 3 things I've told above it is easy to make a choice whether to invest or not and where the token price is heading at.
Let me know your thoughts about it in comment and how do you see this shinny new coin.
