The reallocation of 2B+ idle $SWEAT. Results are in!

Guinness World Records, here we come!*

Thanks to more than 355K of you, we made Web3 history by holding the largest governance vote to date!

Here’s how we did it…

Millions of users opted in to participate in our Token Generation Event in Sep 2022, and those users were allocated $SWEAT. For whatever reason, some of those users hadn’t activated the Sweat Wallet app and hadn’t responded to emails in the past 12 months.

We all had a decision to make. Should these 2B+ idle tokens be reclaimed or not?

After listening to community feedback, we held a governance vote to let our community decide whether to reallocate around 2.5B abandoned $SWEAT tokens or not. As of June 14, 2023, that proposal received over 355K votes over seven days, making it a record-breaking vote! 83% of voters were in favor of reclaiming idle tokens locked up for inactive user accounts.

This vote affected more than 11% of the total token supply, which is why we saw such huge voter turnout. Thanks to the community decision, we transferred the 2,492,673,109.55 idle tokens to governance.treasury.sweat.

Now that the Sweat Foundation reclaimed the idle tokens, we all have another decision to make: how exactly should we reallocate these tokens?

Toward the end of June, we’ll look to you to decide how to reallocate these reclaimed tokens. Check back here to cast your vote or join our Discord to suggest how the proposal for the next vote should be phrased.

*We’re waiting for the Guinness team to reach out to us 🤣