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A free fitness program called Sweatcoin tracks users' steps and rewards them with 'Sweatcoins,' a kind of virtual currency, after each 1,000 steps they take. Users are unable to actually withdraw Sweatcoins to a bank or PayPal account. Instead, a marketplace within the app allows users to purchase products, services, and experiences from collaborating businesses using Sweatcoins. It rewards users for their daily activity with cutting-edge currency that they can use to purchase exciting goods, give to good causes, or exchange for SWEAT.
What exactly is the Sweatcoin Project?
Sweatcoin announced in April 2022 that it would have its own cryptocurrency, sweat economy, but better known as Sweatcoin or by its ticker symbol SWEAT. People who received the original Sweatcoin awards would be able to acquire one SWEAT per reward token. People would be able to create SWEAT with every 10,000 steps they took, however that amount would rise in the future.
Sweatcoin will use persons known as movement validators to validate that people are performing the required number of steps in order to issue the cryptocurrency. The token will be used to collect money from NFT sellers, as well as to purchase NFTs and subscribe to Sweatcoin's premium services.
It will also be used to collect advertising costs, and movement validators will be required to stake SWEAT before taking up their posts. SWEAT will also have its own crypto wallet, known as the SWEAT wallet. SWEAT can also be bought, sold, and traded on exchanges.
It is worth noting that SWEAT is built on the Ethereum (ETH) and Near Protocol (NEAR) blockchains, which implies that Sweatcoin is a token rather than a coin. Don't worry if you notice a reference to a Sweatcoin coin price prediction because it is referring to the same thing.
SWEAT Tokenomics
There is an infinite supply of SWEAT to incentivize movement indefinitely.
This is tempered by a controlled, exponentially falling rate of inflation - SWEAT minting difficulty is exponential - so that inflation approaches zero asymptotically.
This promotes adoption and movement since a movement today yields greater rewards than a movement tomorrow.
The supply of fresh SWEAT is determined solely by the amount of physical activity already reported, implying that minted tokens are backed solely by the value of physical activity. Uncapped supply with exponentially declining inflation will maintain perpetual motivation to stay physically active while continually increasing the perceived worth of SWEAT.
SWEAT is a new cryptocurrency that mints coins based on user movement. SWEAT can be staked for yield and fantastic rewards, applied to NFTs, and offers access to enhanced features in the Sweat Wallet App.
The proceeds from the activities described below will be donated to the Sweat Foundation and utilized to buy and burn. Following that, it will be transferred to the Sweat DAO, which will be administered by veSWEAT (locked SWEAT for governance).
About the group
Sweatcoin was founded by Oleg Formenko, a London-based internet entrepreneur, Anton Derlyatka, a venture capitalist, Egor Khmelev, a developer, and self-described crypto assets enthusiast Henry Child. The platform has been operational since 2015.
How do I purchase SWEAT Token?
SWEAT can be purchased on MEXC by completing the procedures below:
SWEAT Token Price and Performance in the Recent Past
SWEAT has attained the maximum price (ATH) of 0.113806 USDT since it was published on MEXC last week in 2022, with the lowest price being 0.050205 USDT.
What exactly is the Sweatcoin Project?
Sweatcoin announced in April 2022 that it would have its own cryptocurrency, sweat economy, but better known as Sweatcoin or by its ticker symbol SWEAT. People who received the original Sweatcoin awards would be able to acquire one SWEAT per reward token. People would be able to create SWEAT with every 10,000 steps they took, however that amount would rise in the future.
Sweatcoin will use persons known as movement validators to validate that people are performing the required number of steps in order to issue the cryptocurrency. The token will be used to collect money from NFT sellers, as well as to purchase NFTs and subscribe to Sweatcoin's premium services.
It will also be used to collect advertising costs, and movement validators will be required to stake SWEAT before taking up their posts. SWEAT will also have its own crypto wallet, known as the SWEAT wallet. SWEAT can also be bought, sold, and traded on exchanges.
It is worth noting that SWEAT is built on the Ethereum (ETH) and Near Protocol (NEAR) blockchains, which implies that Sweatcoin is a token rather than a coin. Don't worry if you notice a reference to a Sweatcoin coin price prediction because it is referring to the same thing.
SWEAT Tokenomics
There is an infinite supply of SWEAT to incentivize movement indefinitely.
This is tempered by a controlled, exponentially falling rate of inflation - SWEAT minting difficulty is exponential - so that inflation approaches zero asymptotically.
This promotes adoption and movement since a movement today yields greater rewards than a movement tomorrow.
The supply of fresh SWEAT is determined solely by the amount of physical activity already reported, implying that minted tokens are backed solely by the value of physical activity. Uncapped supply with exponentially declining inflation will maintain perpetual motivation to stay physically active while continually increasing the perceived worth of SWEAT.
SWEAT is a new cryptocurrency that mints coins based on user movement. SWEAT can be staked for yield and fantastic rewards, applied to NFTs, and offers access to enhanced features in the Sweat Wallet App.
The proceeds from the activities described below will be donated to the Sweat Foundation and utilized to buy and burn. Following that, it will be transferred to the Sweat DAO, which will be administered by veSWEAT (locked SWEAT for governance).
About the group
Sweatcoin was founded by Oleg Formenko, a London-based internet entrepreneur, Anton Derlyatka, a venture capitalist, Egor Khmelev, a developer, and self-described crypto assets enthusiast Henry Child. The platform has been operational since 2015.
How do I purchase SWEAT Token?
SWEAT can be purchased on MEXC by completing the procedures below:
- Log in to your MEXC account and then select [Trade]. Select [Spot].
- To see the available trading pairs, type "SWEAT" into the search field. As an example, consider SWEAT/USDT.
- Scroll all the way down to the [Spot] box. Enter the quantity of SWEAT you wish to purchase. You can place a Limit order, a Market order, or a Stop-limit order. Consider the Market order. To confirm your order, click [Buy SWEAT]. The purchased SWEAT will be stored in your Spot Wallet.
SWEAT Token Price and Performance in the Recent Past
SWEAT has attained the maximum price (ATH) of 0.113806 USDT since it was published on MEXC last week in 2022, with the lowest price being 0.050205 USDT.
