According to PANews, DeFi researcher @DefiSquared has recently analyzed on platform X that Worldcoin could potentially be the largest wealth transfer event in this cycle. However, contrary to its proclaimed mission of universal basic income (UBI), this wealth transfer is not benefiting the general public but is instead going into the pockets of the team and insiders. Despite common misconceptions, the project has no direct connection with OpenAI, and the impending token unlock could lead to a massive sell-off in the market.
Based on @DefiSquared's analysis, the fully diluted valuation of Worldcoin currently stands at $60 billion. Due to the issuance of tokens for distribution and operator claims, its value depreciates by 0.6% daily. In addition, the Worldcoin Foundation has announced that it will sell an additional $200 million worth of tokens to trading companies. This amounts to 18% of the total circulating supply, and the sale of these tokens to the so-called 'community' actually benefits the foundation.
More importantly, there are only 70 days left until the start of the venture capital and team unlock period. At that time, the supply of WLD will inflate by 4% daily due to unlocking and issuance, leading to a continuous sell pressure of nearly $50 million. @DefiSquared warns that this design was based on predatory token economics from the start, intended to benefit the team and early investors. Retail investors, often unaware of this background, mistakenly believe they can counteract the system by driving up prices.