The Tools for Humanity project has finally completed the development of its own blockchain.
Many users report losing their tokens or having problems receiving them on their Exchange.
Since its inception, the WorldCoin $WLD project has developed its ecosystem on the Ethereum "optimism" layer 2 network, due to its transaction speed and low shipping fees.
In addition, as part of its incentive and benefits program for verified users in an orb, the wallet where monthly bonuses are received, it offered the possibility of sending tokens without any type of commission. Facilitating the adoption of new users and solving problems among those who do not have much knowledge of blockchain.
Alliances and utilities:
Since its inception, the WorldCoin project by Tools for Humanity has sought to create an ecosystem dedicated to "real people" within the world of AI and new digital identities.
Starting from the base, its wallet and main application, it seeks to function as a gateway to decentralized finance, making the use of blockchain more accessible and simpler among all types of users.
By creating a âproof of humanity,â the project established strategic alliances between multiple bot-rich projects.
With this I ensure to form an ecosystem of utilities in the real world, giving great benefits to its users.
Token and referral gift:
The initiative to create a sort of universal basic salary meant that in a short time the wallet reached almost 7 million verified users and almost 10 million users who use the wallet for payments and as a form of savings.
With the possibility of generating income by inviting users or becoming a validator by acquiring an orb, which gives rewards for each verified person, growth has become exponential.
The new era:
A blockchain of its own and a new ecosystem.
As announced a few months ago, the company launched the development of its own Leaguer 2 chain within Ethereum.
It consists of creating an ecosystem of Dapps and DeFi protocols where verified users have great benefits, such as free fees.
Users who are not verified must pay RED fees in the native currency WLD.
Currently, the Worldchain mainnet is operational and the migration of tokens to the new network has even begun, a process that takes just a few seconds in the app.
However, Tools for Humanity's dissemination channels have not been very precise in communicating the new way of interacting with the blockchain.
There are no precise instructions available for configuring the network in wallets such as Metamask or Trust Wallet and, to make matters worse, the network is not yet supported by exchanges.
The lack of clarity and communication is causing some problems:
The biggest problem currently is that the tokens are on the Worldchain network (theoretically) but the addresses to receive them on Binance are still OP's.
In the best case scenario, we hope that the lack of arrival at the exchange is due to a wallet error, but in the worst case scenario, those tokens sent on different networks will have been lost.
We don't have clear information yet, but the second scenario is the most likely. If tokens are sent from Worldchain to an OP address, it is logical that they will be lost.
It is recommended not to send tokens at this time until there is greater clarity, either a statement from World Coin or from the exchanges announcing the incorporation and support of the new chain.
Conclusions:
While this update is causing issues for some users, at a fundamental level it is a huge step for the project.
Having its own blockchain, providing exclusive benefits for verified users ensures an explosion in new users and greater incentives to use the network.
WLD being the governance token brings several advantages:
WLD demand increases to pay for gas fees.
Being a PoS network, there will be a greater amount of WLD stacked in the validator nodes.
The WLD coin will function the same as ETH or BNB in ââfuture liquidity pools.
For its part, the blockchain, together with identity validation, solves a huge problem in the Crypto space: The indiscriminate use of BOTs for token farming, falsifying volume and manipulating data.
With a chain that ensures the identity of its users, it becomes more transparent and allows use in real-world activities and interaction with other platforms.
Crypto Citizen says goodbye!!
When more clarity and information is available, you will be informed.
