Now that's a bigger lock! 🔒
The Worldcoin team has just announced the extension of token lockups for Tools of Humanity, one of the project's early contributors.
In line with Worldcoin's long-term goals, the unlock schedule for 80% of the tokens allocated to the Tools of Humanity team members will be extended from 3 to 5 years.
According to the original timeline, their tokens would have been fully vested by July 2026 through daily unlocks over the next 2 years.
However, the new schedule will essentially push the completion date of the unlocks to July 2028.
With the updated schedule, the team's original daily unlock of 3.3M WLD tokens would decrease by approximately 40%.
Besides that, the Worldcoin Foundation reiterated that grants for World ID participants will not be affected.
Since the news broke, the price of WLD has surged by 48% from $2.16 to a peak of $3.20 but is currently trading lower at $2.80.
Editor's Note: With the jokes about 'bullish unlock' aside, token unlocks have always been considered a bearish event for holders, so it's no surprise that pushing back the unlocks for investors, who probably got them at a much lower price, would result in positive price action. In any case, this latest change would have a significant impact on the rate of tokens released into the market, which helps in alleviating sell pressure. | 
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