dao: News of Sweat Economy (SWEAT) - July 2024 Price Update - 16.95% Breakout Crypto News and Analysis

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Sweatcoin is a highly popular mobile fitness app that was first launched in 2016. With over 110 million users worldwide, the app sets out to motivate healthier living by rewarding users for daily physical activity. Users are rewarded with an in-app currency — Sweatcoin, a non-crypto virtual token which functions as a monetary incentive to reward users for their physical activity. Users can now convert Sweatcoin to SWEAT — the crypto token — to claim real world prizes and experiences. At the time of writing in September 2022, Sweatcoin is ranked first for the most downloaded health and fitness app in 58 countries. Sweat Economy is the newly-launched web3 initiative of Sweatcoin. Within the Sweat Economy app, a crypto token, SWEAT and cryptocurrency wallet, Sweat Wallet are launched. Over 13 million wallets were created in four months since the launch. Further, Sweatcoin has raised $13 million in investor funding and is planning to hold a public token sale and strong hold offering on the DAO Maker launchpad.

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$SWEAT Tokenomics Upgrade: DAO Proposal Accepted The completed DAO vote is expected to result in a 30% reduction in monthly $SWEAT minted. Over 150,000 users cast their vote on the Minting Window update. Here’s the results: * 70% (108K) voted to change the Minting Window * 30% (46K) voted to stay the same * A total of 154,145 Unique Voters in just two weeks. The SWEAT Community came up with a DAO proposal that would reward active strides. More Rewarding Activity for Dedicated Movers The current system rewards steps up to a daily limit of 5K, potentially discouraging those who walk further. The SWEAT Community DAO proposal addresses this by focusing rewards on users who actively move and reach higher step goals. The vote ended in July 2024, and more than 150K of you voted on the new proposal. Based on current activity levels, and the amount of walking users, the just-passed proposal is expected to result in a 30% reduction in monthly minting, shaping the future and value of the token.

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The shared more Tokenomics Upgrade: The Minting Window , the new upcoming DAO vote is expected to result in a 30% reduction in monthly $SWEAT minting, shaping the future and value of $SWEAT! Key Improvements:- Increased Earning Potential: Users who reach new daily walking thresholds (3,000–10,000 steps, or 20,000 for Premium) will earn significantly more $SWEAT (approximately 40% daily increase). - Focus on Active Users: Inactive users who walk less than 3,000 steps daily will no longer mint $SWEAT (which will vastly decrease minting of new $SWEAT)

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The recent significant development that has impacted Sweat Economy's price is the acceptance of a DAO proposal that led to a major upgrade in the tokenomics of the $SWEAT cryptocurrency. This proposal, which saw participation from over 150,000 unique users, includes a reduction in the monthly minting of $SWEAT by 30%. This reduction in supply is expected to create a more favorable supply-demand dynamic, potentially increasing the token's value as fewer tokens are introduced into circulation. The strong community engagement demonstrated by the large number of voters also reinforces confidence in the project's decentralized governance and future prospects. This positive sentiment and the anticipated impact of the tokenomics upgrade have acted as a breakout trigger, driving increased interest and demand for the $SWEAT token, and consequently, its price.

Explore the Core.

Sweatcoin is a mobile fitness app that aims to motivate people to lead healthier lives by rewarding them for physical activity. Launched in 2016, the app has garnered over 110 million users worldwide, making it the most downloaded health and fitness app in 58 countries as of September 2022. Users earn an in-app currency called Sweatcoin, a non-crypto virtual token, which they can now convert to SWEAT, a cryptocurrency. This conversion allows users to claim real-world prizes and experiences, bridging the gap between virtual rewards and tangible benefits. The recent acceptance of a DAO proposal within the Sweatcoin community has led to a significant tokenomics upgrade, reducing the monthly minting of SWEAT by 30%. This change, supported by over 150,000 unique voters, reflects strong community governance and involvement, which enhances the project's credibility. By addressing the challenge of maintaining motivation for daily physical activity through a novel rewards system, Sweatcoin effectively combines health and fitness with blockchain technology to create a sustainable incentive structure. This innovation not only encourages healthier lifestyles but also provides real-world value to its users through its cryptocurrency rewards system.

Spot the Main Event:

Major Upcoming Vote. Tokenomics Upgrade: The Minting Window They are all about getting users moving and earning for their effort. After listening carefully to community feedback about the current $SWEAT minting window, particularly that it might not be fairly rewarding those who truly get their sweat on, the new upcoming DAO vote is expected to result in a 30% reduction in monthly $SWEAT minting, shaping the future and The current system rewards steps up to a daily limit of 5K, potentially discouraging those who walk further. The new SWEAT Community DAO proposal addresses this by focusing rewards on users who actively move and reach higher step goals. Key Improvements: - Increased Earning Potential: Users who reach new daily walking thresholds (3,000–10,000 steps, or 20,000 for Premium) will earn significantly more $SWEAT (approximately 40% daily increase). - Focus on Active Users: Inactive users who walk less than 3,000 steps daily will no longer mint $SWEAT (which will vastly decrease minting of new $SWEAT) - Sustainable Ecosystem: By not rewarding inactivity, we anticipate a 30% reduction in monthly $SWEAT minting, benefiting the overall health of the ecosystem by reducing the amount of new $SWEAT minted into circulating supply.

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