On July 16, 2024, at precisely 15:56 UTC, Sweat Economy (SWEAT) experienced a significant breakout, surging by 16.95% to reach a new price of $0.0088. This remarkable price movement comes as a result of a series of strategic and communitydriven developments within the Sweat Economy ecosystem. Let's delve into the factors that have propelled SWEAT to new heights and explore the project's innovative approach to incentivizing physical activity through cryptocurrency rewards. On July 16, 2024, Sweat Economy (SWEAT) experienced a remarkable breakout, with its price surging by 16.95% to reach $0.008771. This surge was driven by several key factors that have captivated the cryptocurrency community and investors alike. Let's delve into the reasons behind this breakout and the implications for the future of SWEAT.
Sweat Economy, a platform that incentivizes physical activity by rewarding users with SWEAT tokens, has been making waves in the crypto space. With over 120 million users worldwide, the Sweatcoin app, which tracks users' steps and rewards them with SWEAT tokens, has fostered a vibrant community. The recent breakout can be attributed to a combination of strategic initiatives and communitydriven governance.
Major tokenomics upgrade accepted by DAO: Over 150,000 users voted to reduce $SWEAT monthly minting by 30%, creating favorable supplydemand dynamics. This upgrade is expected to significantly impact the token's value by reducing the circulating supply, thereby increasing scarcity and potentially driving up the price. The community's strong participation in the DAO vote reflects a high level of engagement and confidence in the project's future.
The acceptance of the DAO proposal marks a pivotal moment for Sweat Economy. By reducing the monthly minting of $SWEAT, the project aims to create a more sustainable and valuable token economy. This move has been wellreceived by the community, with over 150,000 unique users participating in the vote, indicating strong support for the project's direction.
Exclusive Titan Jar Alert: The introduction of the Titan Jar, where users can lock up 5,000+ $SWEAT for six months and earn a solid 12% per year, has also contributed to the price surge. This initiative has already seen 33.6 million $SWEAT deposited into the Titan Jar by the community, showcasing the project's ability to incentivize longterm holding and increase liquidity.
The Titan Jar initiative is a strategic move to encourage users to hold onto their $SWEAT tokens for an extended period, thereby reducing the circulating supply and increasing demand. The promise of a 12% annual return has attracted significant interest from the community, further driving the token's value.
In conclusion, the recent breakout of Sweat Economy (SWEAT) can be attributed to a combination of strategic tokenomics upgrades and innovative initiatives like the Titan Jar. The community's active participation in governance and the project's ability to incentivize longterm holding have created a favorable environment for the token's growth. As Sweat Economy continues to innovate and expand its ecosystem, the future looks promising for $SWEAT and its holders. In conclusion, the 16.95% breakout of Sweat Economy (SWEAT) in July 2024 is a testament to the project's innovative approach and strong community engagement. The major tokenomics upgrade, the successful Titan Jar event, and the surge in active users have all contributed to this price movement. As always, it is crucial for investors to conduct their own research (DYOR) to navigate the complexities of the cryptocurrency market effectively. Sweat Economy's unique blend of health, fitness, and blockchain technology continues to make it a compelling project to watch in the movetoearn space.
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Cute, funny and a little bit crazy!!!
Explore the Core.
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.
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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Oluwatosin BamideleTrade hard. Joy is coming
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:
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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Abdulazeez MuhammadExplore 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.
Spot the Main Event:
Today,16th of July,2024. Sweat Economy announced the commencement of token lock up for 6 months with an APR of 12%. The community has already deposited 33.6M $SWEAT into their Titan Jar. This lock up means a high holding of the token for a long time, more liquidity, this caused the spike in price.
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Ola VictoriaExplore the Core.
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.
Spot the Main Event:
Members can Lock up 5K+ $SWEAT for 6 months & earn a solid 12% per year. 33.6M $SWEAT has already been deposited into the Titan Jar by their amazing community.
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Christian PatrickBlockchain analyst and front end web designer.
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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.
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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.
GLORIA OLUWAFERANMITo 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
Spot the Main Event:
A brand new proposal, More than 89,000 $SWEAT holders voted in the #SweatWallet DAO proposal . A change in $SWEAT tokenomics is leading with 71% of votes cast to reward those who are more active & potentially REDUCE overall token emissions.
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Abifarin TemitayoExplore the Core.
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.
Spot the Main Event:
Exclusive Titan Jar Alert Lock up 5K+ $SWEAT for 6 months & earn a solid 12% per year 33.6M $SWEAT has already been deposited into the Titan Jar by their amazing community.
📸 Show Us What You Found:
OLUWATOSIN GARUBAExplore 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.
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Overview
Sweat Economy is a web3 initiative evolving from the popular mobile fitness app, Sweatcoin. Launched in 2016, Sweatcoin has amassed over 120 million users globally, incentivizing physical activity by rewarding users with a noncrypto virtual token, Sweatcoin. The project aims to bridge the gap between health and fitness and blockchain technology through its MovetoEarn (M2E) model, where users earn SWEAT tokens for their physical activities. The mission is to promote healthier lifestyles while providing tangible rewards and financial inclusion.
Key Features
MovetoEarn Model: Users earn SWEAT tokens by engaging in physical activities like walking and running, tracked through the Sweat Wallet app. Sweat Wallet: A cryptocurrency wallet integrated within the Sweat Economy app, facilitating the storage and management of SWEAT tokens. Tokenomics: The SWEAT token supply is deflationary, with mechanisms like token burning and reduced issuance rates over time. RealWorld Rewards: SWEAT tokens can be used to unlock rewards such as Teslas, trips, and other prizes, as well as access premium features in the Sweat Wallet app. Community Governance: Active community involvement through DAO proposals, influencing key decisions like tokenomics upgrades.
Recent Developments
DAO Proposal Accepted: A significant tokenomics upgrade was approved, resulting in a 30% reduction in monthly SWEAT minting. Titan Jar Initiative: Users can lock up 5K+ SWEAT for 6 months to earn a 12% annual return. Over 33.6M SWEAT has been deposited. Partnerships: Collaborations with the NHS and other health institutions to promote healthier lifestyles and reduce healthcare burdens. User Growth: Over 13 million wallets created within four months of the Sweat Wallet launch, with a 5,000% yearoveryear increase in monthly active users as of May.
Market Impact
Increased Demand: The deflationary tokenomics and realworld rewards are likely to drive demand for SWEAT tokens. User Adoption: The rapid growth in wallet creation and active users indicates strong market adoption and potential for further expansion. Partnerships: Collaborations with health institutions and fitness brands enhance the project's credibility and market presence.
Risks and Opportunities
Challenges: Potential security breaches, technical issues, and the need to maintain user engagement and motivation. Opportunities: The innovative M2E model and strong community governance present significant growth opportunities. The ability to sell movement data to healthcare companies offers additional revenue streams.
Community Engagement
Community Size: Over 120 million users globally, with active participation in governance through DAO proposals. Engagement Strategies: Regular updates and initiatives like the Titan Jar and DAO proposals keep the community engaged and involved in decisionmaking processes.
Conclusion
Sweat Economy stands out in the crowded cryptocurrency market with its unique M2E model, promoting healthier lifestyles while providing tangible rewards. The recent tokenomics upgrade and strong community governance enhance its market position. Traders should consider the project's innovative approach, rapid user adoption, and potential for future growth when evaluating investment opportunities. The deflationary nature of the SWEAT token and realworld applications make it a compelling choice for investment.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.