Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 79

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 79
---
 for Humanity (the “TFH WLD”). As of April 2025 [NTD – can this be updated?], about
1.3 billion or 13% of the total supply was in circulation.

The
timing and conditions under which the tokens are released into circulation are important to understand the governance of the WLD ecosystem
and the potential impact on the value of WLD. While the World Foundation and Tools for Humanity are legally separate entities and have
separate allocations, the decision-making authority governing when and how tokens are released may rest with a small group of individuals.
The allocations and governance of TFH WLD and WF WLD are governed by arrangements that are not transparent to the public, and there is
no autonomous on-chain code, third party reporting, audit or other objective processes that tie the statements made to the public to
those actions of World Foundation or Tools for Humanity.

44

With
respect to WF WLD, it is unclear what the WF WLD release schedule is, but it is purportedly determined based upon the number of WLD users
in the public. According to Worldcoin’s blog, the decision as to when to release the WF WLD currently rests with the World Foundation’s
Board of Directors. The composition of the Board of Directors is disclosed as Chris Waclawek, Phillip Sippl, Weinberger Ventures GmbH
and a Cayman Islands based professional director. It is not disclosed as to how they are compensated, and it is possible they are compensated
in WLD. It is also possible that the Board of Directors and the World Foundation employees overlap with or are connected to Tools for
Humanity. Because there is no transparency as to how the decisions related to the user-reward programs, airdrops and the release of WF
WLD, there is a risk that they may act in their self-interest, including the risk of inequitable distribution, concentration of token
ownership, self-dealing and acting on inside information.

These
risks are also applicable to the release schedule for Tools of Humanity. The release schedule for TFH WLD is a disclosed 5-year lock-up
period (released daily, in a linear fashion). The unlocking of TFH WLD commenced in July of 2023 and will end in July of 2028. However,
the original lock-up period was amended by Tools for Humanity from a 3-year period to a 5-year period in 2024 and there is no assurance
that this schedule will not