Governance voting & decentralization

Decentralization allows users to share in the value they create. We believe it is integral to creating an open economy of movement.

To this end, the Sweat Foundation will begin to gradually devolve decision making power to the community via the Sweat DAO.

What is a DAO?

A DAO (decentralized autonomous organization) is a mechanism that enables individual token holders within a community to vote on key project decisions. Voting in the Sweat DAO will only be available to SWEAT holders.

First step: buy and vote

Decentralization is a process, and cannot happen overnight. We are building out the system to enable a transparent and effective governance process.

The first step on this journey will be a community vote on whether SWEAT purchased by the Foundation is burned, or distributed, to the community.

DAO remit

Below is a non-exhaustive list of key ecosystem decisions that we intend to hand over to the DAO.

• % of profit dedicated to buy and burn
• Whether buy and burn is automated or discretionary
• Buy and vote (Foundation buys SWEAT, community votes on what is done with it)
• Use of unclaimed airdrop tokens
• SWEAT minting difficulty rate
• Future product features and integrations
• Movement Validators
• Monetization of movement data
• Deployment of Sweat Foundation Treasury
• Major B2B contracts

What does this mean for the Sweat Foundation?

As we formalize the transition to a DAO, the Sweat Foundation will work on Sweat Economy as a service provider. It is the executor of decisions which will be increasingly made by the community.

Serving the mission

A DAO creates an alignment of interest between decision makers and stakeholders. The essence of crypto is to empower individuals by bypassing the need for centralized intermediaries. The people who hold the token become the ones who run the ecosystem. This allows for users of a protocol (or app) to share in the value they create. That is why crypto complements our vision of rewarding individuals for their movement.

Decentralization can enable the physically active user to run the network. It therefore creates a perfect incentivization and reward mechanism to facilitate our mission of inspiring people to be more active. This ensures that the motivation of the management of the network remains in line with the principles we have founded it upon. In short, it is why we entered crypto.

The Sweat Team

For the latest news, make sure to join us on Twitter, Discord, Telegram, and Reddit. Download the Sweat Wallet app to walk into crypto (Android and Apple).