Worldcoin surges past $2 after pushing WLD grant redemption deadline

In a strategic move to foster broader participation in its ecosystem, the Worldcoin Foundation, co-founded by Sam Altman, has announced an extension of the WLD grant reservation deadline.

The announcement has sparked a 10% surge in the price of WLD, propelling it to $2.04 at press time. Notably, the announcement follows several other positive Worldcoin developments.

WLD grant redemption deadline extended by a year

According to the Worldcoin Foundation announcement, the deadline for redeeming WLD grant reservations has been extended by one year.

Initially, the deadline was on July 31, 2024. However, after the extension, the new deadline allows reservations made between July 24, 2023, and July 31, 2024, to be valid until July 31, 2025.

This extension is intended to give more individuals the opportunity to participate in the project, particularly those without a verified World ID.

By providing the additional time, Worldcoin aims to enhance inclusivity and ensure that a larger number of users can benefit from its initiatives.

This move aligns with Worldcoin’s mission to democratize access to the global economy, enabling widespread participation without stringent time constraints.

The extension is also expected to accommodate new reservations until July 31, 2024, further broadening the scope for involvement in the project.

Worldcoin has introduced a developer preview of its World Chain

In conjunction with the deadline extension, Worldcoin recently introduced a developer preview of its upcoming Layer 2 (L2) network, known as World Chain, that is expected to launch this summer.

This preview allows a select group of developers to explore and test the network’s capabilities ahead of its official mainnet launch, anticipated later this summer.

By introducing the developer preview, Worldcoin aims to gather valuable feedback and optimize the network’s performance before broader deployment, highlighting its proactive approach to refining its technological offerings.

Worldcoin has partnered with Alchemy

Furthermore, Worldcoin recently partnered with Alchemy, leveraging its robust infrastructure and developer tools to accelerate the development of World Chain.

This collaboration is critical for enhancing digital identity and blockchain technology solutions, reinforcing Worldcoin’s commitment to advancing blockchain innovation.

By integrating Alchemy’s expertise, Worldcoin is poised to strengthen its digital identity framework and expand its developer ecosystem.

The extension of the WLD grant reservation deadline, coupled with technological advancements and strategic partnerships, has not only impacted Worldcoin’s price surge but also its 24-hour trading volume.

The WLD 24-hour trading volume has increased by 15% to $193.27 million, indicating heightened investor interest.

CoinGlass data further reveals a 28.64% spike in the crypto’s Open Interest, underscoring the growing focus on WLD among derivatives investors.

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