OKX, a major cryptocurrency exchange, has officially enabled deposit functionality for the Worldcoin (WLD) token. Users can now fund their accounts with WLD in preparation for expected trading.
The token deposits are supported via two networks: Ethereum (ERC20) and Optimism. This allows users flexibility in transferring their assets while minimizing transaction costs.
Although the deposit service is live, OKX has not yet made an official announcement regarding the exact timeline for WLD spot trading. Market participants are closely watching for further updates from the exchange.
Background on Worldcoin (WLD)
Worldcoin is a cryptocurrency project focused on digital identity and universal access to the global economy. It uses a unique proof-of-personhood mechanism based on biometric verification.
The project’s official Twitter account recently posted a cryptic message saying, "It's time. 24.7.23," suggesting a significant update was imminent. Soon after, listing monitors detected that OKX had added WLD to its platform.
This development marks an important step in Worldcoin’s exchange integration strategy, improving accessibility and liquidity for the token.
How to Deposit WLD to OKX
To deposit WLD tokens into your OKX account, follow these steps:
- Log in to your OKX account.
- Navigate to the 'Assets' section and select 'Deposit'.
- Search for 'WLD' or 'Worldcoin'.
- Select the network you wish to use (ERC20 or Optimism).
- Copy the deposit address or scan the provided QR code.
- Initiate the transfer from your external wallet using the same network.
Always ensure you are using the correct network to avoid loss of funds. Sending tokens on an unsupported network may result in permanent loss.
👉 Explore more deposit strategies
The Importance of Multi-Network Support
By supporting both Ethereum and Optimism networks, OKX offers users more flexibility. The Optimism network, a Layer-2 scaling solution for Ethereum, typically offers faster transaction times and significantly lower gas fees compared to the main Ethereum network.
This is particularly beneficial for users making smaller deposits, as high gas costs on ERC20 can sometimes make small transfers impractical.
Frequently Asked Questions
When will WLD trading begin on OKX?
OKX has not announced the exact trading start date. Enabling deposits is typically the first step before opening trading pairs. Users should monitor OKX’s official announcements for the most accurate information.
What is the difference between ERC20 and Optimism deposits?
ERC20 refers to the Ethereum mainnet, which is secure but can have high gas fees. Optimism is a Layer-2 network built on Ethereum that offers much cheaper and faster transactions. You must use the same network for both sending and receiving.
Is there a minimum deposit amount for WLD?
Exchange platforms often set a minimum deposit amount. While not specified in the initial news, users should check the deposit interface on OKX for any minimum requirements or network fees before initiating a transfer.
What is Worldcoin’s main purpose?
Worldcoin aims to create a global digital identity and financial network. Its goal is to provide universal access to the economy through a privacy-preserving digital identity system verified by biometrics.
Can I withdraw WLD immediately after depositing?
Withdrawals are usually enabled once trading officially begins. Until then, deposited funds will likely remain in your account's funding wallet and cannot be withdrawn or traded until the token is fully listed.
Are there any risks in depositing before trading goes live?
The main risk involves sending tokens using an incorrect network. Always confirm you are using one of the supported networks (ERC20 or Optimism) to avoid losing your assets. The tokens themselves are safe once deposited into your OKX account.