As part of its efforts to improve its network and make it more secure, Worldcoin has announced it will stop using USDC for Orb operator rewards. Orb is a protocol for providing decentralized liquidity to different blockchains. As it stands now, Worldcoin rewards Orb Operators with its own USDC-backed tokens.
The new strategy is aimed at dedicating more resources to the development of Worldcoin and building a more secure network. Additionally, the company hopes that it will help bring more developers to the platform.
Worldcoin’s announcement also stated that it would gradually transition away from USDC and move towards other tokens or pegged assets such as WDA, the native Worldcoin asset. The new reward system is expected to be held in the second quarter of 2021.
Worldcoin believes that this switch will encourage more users to join the network, which is something that it needs to see in order to further establish its infrastructure. Furthermore, this transition follows a general trend that we are seeing in the industry, of blockchain companies focusing more on their native assets rather than the US dollar-backed tokens.
We look forward to the launch of the new reward system and how it will affect the development of Worldcoin and its overall network security.