Blockchain builders offered $5 million grant initiative by Worldcoin
Worldcoin (WLD) has unveiled a groundbreaking initiative called “Wave0,” which consists of a $5 million grant program aimed at supporting innovators who are developing resilient technology and more equitable systems. The project has received support from Sam Altman, the CEO of OpenAI, and the grants will be distributed through the Worldcoin Foundation, a non-profit organization that backs WLD’s endeavors.
In a blog post on December 6th, it was revealed that the grants would be given in the form of WLD tokens, with a total of 2 million coins allocated across three different tracks within the Worldcoin Tech Tree. The first track, known as community grants, will provide up to 5,000 WLD for initiatives such as sponsorships and hackathons. The second track, project grants, aims to support larger-scale projects by offering up to 25,000 WLD. Lastly, the Open Track Grants will focus on the most ambitious and impactful projects, with no predetermined budget and funding allocated on a case-by-case basis.
To ensure wider participation, the Worldcoin Foundation may issue grants in Circle’s USD Coin (USDC) or other stablecoins. It’s worth noting that the protocol stopped making USDC payments to Orb operators in October 2023.
The projects that receive backing from the grant program will contribute to the advancement of the Worldcoin Tech Tree by enhancing World ID applications, the protocol, user agents, hardware, and operations.
Worldcoin has also released a paper on decentralization, which outlines its strategy for creating a protocol that is owned and governed by the entire human race.
Since its launch in July 2023, Worldcoin has faced intense scrutiny due to concerns about privacy from cryptocurrency proponents. The protocol, which utilizes iris scanning for user identification, established sign-up centers in various developing countries, leading to speculation about Worldcoin’s motives. Regulatory authorities in France and Germany have initiated investigations into the project, focusing on its data collection and security systems. Despite skepticism from critics, Worldcoin plans to expand its ID verification platform to businesses and governments.
For more information, please read: “Worldcoin flaw allowed anyone to become an orb operator.”
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