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

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Spot the Main Event:

$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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Explore the Core.

The app aims to lower global carbon footprints by incentivizing physical activity to create a healthier and more active world. Sweatcoin pioneers a move-to-earn (M2E) style game, which is similar to a play-to-earn game, where users can earn monetary rewards for their participation. In this M2E game, users can actually earn crypto for being physically active in their day-to-day lives. The team states that their app has increased their users’ physical activity by an average of 20% and has partnered with the NHS to help create a healthier society and reduce burdens on global healthcare systems. Moreover, though Sweat Economy states that they have never sold their users’ data, users will have the option to sell their movement data to healthcare companies

Explore the Core.

Sweat Economy is a web3 initiative that has launched the SWEAT cryptocurrency and Sweat Wallet app. Sweat Economy is built on the NEAR blockchain and is designed to incentivize physical activity through a "Move-to-Earn" (M2E) model. Users earn SWEAT tokens by engaging in activities like walking, running, and other fitness activities tracked through the Sweat Wallet app. SWEAT tokens can be used to unlock rewards like Teslas, trips, and other prizes, as well as access premium features in the Sweat Wallet app. The SWEAT token supply is designed to be deflationary, with the token issuance rate decreasing over time and mechanisms like token burning to reduce the circulating supply.

To God be the Glory

Explore the Core.

The app aims to lower global carbon footprints by incentivizing physical activity to create a healthier and more active world. Sweatcoin pioneers a move-to-earn (M2E) style game, which is similar to a play-to-earn game, where users can earn monetary rewards for their participation. In this M2E game, users can actually earn crypto for being physically active in their day-to-day lives. The team states that their app has increased their users’ physical activity by an average of 20% and has partnered with the NHS to help create a healthier society and reduce burdens on global healthcare systems. Moreover, though Sweat Economy states that they have never sold their users’ data, users will have the option to sell their movement data to healthcare companies

Explore the Core.

The app aims to lower global carbon footprints by incentivizing physical activity to create a healthier and more active world. Sweatcoin pioneers a move-to-earn (M2E) style game, which is similar to a play-to-earn game, where users can earn monetary rewards for their participation. In this M2E game, users can actually earn crypto for being physically active in their day-to-day lives. The team states that their app has increased their users’ physical activity by an average of 20% and has partnered with the NHS to help create a healthier society and reduce burdens on global healthcare systems. Moreover, though Sweat Economy states that they have never sold their users’ data, users will have the option to sell their movement data to healthcare companies

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.

Blockchain analyst and front end web designer.

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.

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