Universal token of World

The WLD token contract is deployed on Ethereum mainnetand the token is bridged to the World Chain “layer 2” network. HoweverWorld Foundation expects that most of the activity in WLD tokens will happen on World Chainwhere verified individuals receive their user token amounts. In additionWorld App primarily interacts with the World Chain network. The reasons for choosing World Chain over Ethereum as the primary venue were scalability and transaction costs. A legacy bridged version of WLD also still exists on Optimism.

World App users generally do not currently incur gas costs; the gas fees for claiming WLD tokensperforming swapsand other transactions are currently funded by TFH. In the futureWorld App could require users to pay gas fees for certain actionse.g.transfers made to other wallets. When users verify their identity to a third-party application via World IDthis does not incur gas costs for the protocol. Howeverthe third-party applications may charge users gas fees (depending on whether they verify the proof on-chain or off-chain) or other fees. For instancewhen using the swap feature in World Appusers do pay any fees incurred on third-party platforms. Users may incur gas fees for transactions that are not made through World App that are dependent on the platform and chain on which the transaction is occurring.

The majority of the World Community tokens are stored in a cold wallet. Additionallyseveral hot wallets are used by World Foundation and World AssetsLtd.to manage everyday operations. Tokens are typically only stored in these hot wallets for a short period of timeand these wallets only store as many tokens as needed.

The WLD token contract is not upgradable. No control can be exercised over the contractexcept for setting the “minter” address in case the community decides to activate inflation. For 15 years following the launchno address is able to mint any new tokens. After 15 yearsa “minter” address (controlled by protocol governance) can mint up to 1.5% new WLD tokens per yearwith governance deciding how to allocate them.

The World Foundation is an exempted limited guarantee foundation companyincorporated in the Cayman Islands. It is “memberless,” meaning it has no shareholders or beneficial owners. Its registered office is located at Suite 31199 Forum LaneCamana BayGeorge TownGrand Cayman KY1-9006Cayman Islands. World Foundation’s principal purposeas set forth in its Articles of Associationis to support and encourage the growth of those building in the World ecosystemsupport and foster the decentralization of World technologies and governancehold and license intellectual property relating to the World Networkand to receivesellholdloanand spend assets to support these purposes. 

World AssetsLtd. is a company registered in the British Virgin Islands on December 72022 with BVI Company Number 2113558. The World Foundation is the sole member/director of World AssetsLtd. World AssetsLtd.is responsible for issuing the 7.5B Worldcoin tokens (WLD) that have been allocated to the World community. 

World Chain LLC is a limited liability company formed in the Cayman Islands. World Foundation is its sole member and manager. World Chain LLC is responsible for the ownership and operation of World Chain infrastructure.

More information about these entitiesincluding incorporation documentation and equity compositioncan be found at foundation.world.org/about. 

Tools for Humanity (TFH) is a Delaware corporation headquartered in San FranciscoCalifornia (US)with a wholly-owned subsidiaryTools for Humanity GmbH based in Germany. Its registered office is located at CSC 251 Little Falls DriveWilmingtonDelaware 19808. It registered on June 262019 and its legal entity number is 7487684. TFH supported World’s multi-year pre-launch phaseduring which it developed the Orbthe first version of the protocoland the World Appthe first wallet for Worldwhich it still operates today. It is governed entirely independently of World Foundation. Founded in 2019TFH has grown to a team of approximately 500 people today. HoweverWorld is an open protocol that anyone can contribute to and build on.