SWEAT: How Cryptocurrency Motivates an Active Lifestyle

The SWEAT project began with the launch of the Sweatcoin app in 2016. Its goal was to encourage users to increase their physical activity by rewarding them for each step. Sweatcoin converted users' steps into a digital currency that could be redeemed for discounts, gifts, and services from partners, fostering a community of millions. On average, users increased their physical activity by 20% after using the app.

In 2022, the project adopted blockchain technology with the introduction of the SWEAT cryptocurrency. On September 13, 2022, the largest Token Generation Event (TGE) in history took place, where users received SWEAT tokens based on their Sweatcoin balances. This transition to a decentralized, Web3-enabled model introduced the Sweat Wallet, allowing each step users take to be converted into cryptocurrency. This shift expanded the use cases of rewards and opened new opportunities for token utilization and trading within the Web3 ecosystem.

Overview of the Sweat Economy Ecosystem

The Sweat Economy ecosystem includes several key elements that support the use of the SWEAT token and encourage users to be physically active. This allows the project to offer various applications for the token and integrate it into everyday life.

Sweatcoin App

The Sweatcoin app is the foundation of the ecosystem, motivating users to stay active. It tracks users' steps and converts them into digital assets that can be exchanged for goods and services. The app is available on Google Play and the App Store.

Sweat Wallet

Sweat Wallet is a cryptocurrency wallet specifically designed for SWEAT tokens. It allows users to manage their assets and participate in staking while supporting integration with Web3.

Tokenomics of SWEAT: Distribution and Emission Model

The tokenomics of SWEAT are designed to incentivize user activity through a "move-to-earn" model. Currently, there are approximately 7.21 billion tokens in circulation, with a maximum supply cap of 21.87 billion tokens. During the Token Generation Event (TGE), users received tokens based on their Sweatcoin balances.

The emission of new tokens becomes increasingly challenging over time, requiring more steps for each SWEAT minted, which helps to control inflation and encourages users to stay active. Additionally, a portion of the profits is used for token buyback and burn, maintaining the long-term value of the token.

SWEAT Listings: Exchanges and Swap Services

The SWEAT token is traded on numerous major cryptocurrency exchanges such as OKX, KuCoin, Bybit, HTX (Huobi), Gate.io, and Bitfinex. These platforms support trading pairs with popular stablecoins like USDT and USDC, providing users with convenience and liquidity. The current average price of the token is around $0.0066, with a monthly trading volume of approximately $84 million.

Key trading pairs are available on platforms like OKX and Huobi, where SWEAT trading volumes are the highest. The token is also supported on other platforms, including exchanges such as Exchangio, where you can trade SWEAT for any of over 750 available cryptocurrencies. This offers users a wide range of options for trading and exchange, ensuring flexibility and convenience for traders and investors.

Sweat Economy Team

• Oleg Fomenko — Co-founder and CPO. Has experience in strategic roles at major companies like Pepsi and Coca-Cola.
• Anton Derlyatka — Co-founder and CEO. Holds an MBA from London Business School and has experience in venture capital, previously working at Reebok.
• Egor Khmelev — Co-founder and CTO. A skilled developer and entrepreneur, he has founded multiple tech startups in Moscow.
• Henry Child — CCO. Previously worked at Deliveroo, Bitfinex, and Tether, focusing on token management and strategic growth.

Future of SWEAT and Roadmap

The SWEAT project aims for continued development and expansion of its ecosystem, offering users new ways to interact with the token and growing its global user base. The roadmap includes several stages of development that will help strengthen SWEAT's position in the "move-to-earn" space and integrate it further into Web3.

Bottom Line

SWEAT aims to redefine how physical activity is valued, transforming it into a tangible digital asset through its "move-to-earn" model. With the integration of blockchain technology and the launch of the SWEAT token, the project has created an ecosystem where users are rewarded for staying active. As the project continues to develop through new features like DeFi integration, NFT adoption, and expanded partnerships, SWEAT is poised to grow its user base and become a significant player in the Web3 space. The roadmap focuses on sustainable growth, ensuring that the token remains valuable and that the community is motivated to stay active over the long term.

Disclaimer:
The information contained in this article is provided for educational and informational purposes only. It is not intended to be investment or financial advice, and should not be taken as such. Cryptocurrency is a highly speculative and volatile market, and any investment made in it carries a significant risk. Before making any investment decisions, it is recommended that you seek the advice of a qualified financial professional to understand the potential risks and rewards associated with investing in cryptocurrencies.