Significant inflation reduction: minting difficulty increase

The Foundation has decided to increase the minting difficulty rate of SWEAT by 400%. The change will be implemented today (Mon 10th October at 12:00 UTC).

We want to create a sustainable economy, and future-proof your tokens. The SWEAT you hold now, and the SWEAT you have staked in Growth Jars, can benefit from this new measure. It can enhance the value of your steps, and the power of your SWEAT.

This is a major decision. It will massively reduce the walking token emissions curve (see below).

Please note: this new formula is adaptable, so we can continue to tweak and tune it to optimize the economy.

Decreasing emissions

Since our launch a month ago, we have learned a huge amount from user engagement, and community feedback, which we are always grateful for.

While we work to create and enhance the utilities driving demand, we must also massively tighten the supply of token emissions coming from walking users.

Massively increasing the minting difficulty is the first step in accomplishing this.

See the impact of the new minting difficulty formula in decreasing the total tokens minted by walking in the graph below.

Another way of understanding this is the minting difficulty curve. Below is a comparison of the old formula against the new one to show how many steps will be required to mint 1 SWEAT over time.

This is not the only change that the team is working on to deliver slower inflation of circulating supply.

The change

We have long since established a model for making each next SWEAT more difficult to mint than the last. This mechanic complements our vision of helping people to move today, not tomorrow.

The change we are making will increase the current minting difficulty by 4X/400%. You will see the minting difficulty number (top right of your Sweat Wallet interface) jump from approximately 1,080 to 1,270 or thereabouts immediately.

• Current minting difficulty increase of 2.9 steps per day
• New minting difficulty will make this 12 steps a day (0.5 per hour)

Stay tuned — because we are working on further models to further decrease the rate of inflation. This is just the beginning!

Happy SWEATing,

The Sweat Team