Crypto community puzzled over Worldcoin’s mixed circulating supply data

Crypto community puzzled over Worldcoin’s mixed circulating supply data

Crypto aggregators and on-chain providers seem to provide contradictory information concerning the WLD token supply, prompting concerns regarding the accuracy of the data.

In an X post on Mar. 20, Nansen CEO Alex Svanevik pointed out a significant difference between Worldcoin‘s reported circulating supply of the WLD token and the data displayed on Optimism, where tokens were migrated from Ethereum in 2023. Svanevik compared data from crypto aggregator CoinGecko and the Optimism bridge protocol, uncovering a discrepancy of nearly 10 million WLD tokens in the circulating supply.

am I crazy or is the @worldcoin circulating supply wrong from their API (and on @coingecko)??

their API says 154m tokens

but the Optimism bridge alone has 163m tokens

🤔 pic.twitter.com/EXeihiWZNk

— Alex Svanevik 🐧 (@ASvanevik) March 20, 2024

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CryptoQuant CEO Ki Young Ju added that another crypto market aggregator, CoinMarketCap, also presents a contrasting view compared to on-chain data. Ju suggested that the token circulating information on centralized aggregators appears to be self-reported by the Worldcoin team, labeling it as “obviously wrong.”

About 52M treasury tokens are held on OP. These are bridged but not circulating.
Claims happen from these wallets, which is why they are there.

— Remco Bloemen (@recmo) March 20, 2024

However, in response, Remco Bloemen, Worldcoin’s head of blockchain, suggested that the difference in numbers may stem from the fact that over 50 million treasury tokens are held on Optimism, clarifying that “these [tokens] are bridged but not circulating.”

As of press time, Worldcoin has not issued any public statements addressing the difference between the self-reported figures and those displayed on-chain. Crypto.news reached out to Worldcoin for comment but had not received a response at the time of publication.

Read more: Worldcoin claims its business completely legal, WLD faces 10% drop

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