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Sweat Economy Blog

Vote on your favorite Growth Jar

By Sweat Team

Updated

Until now, the primary focus of governance voting has been on intricate decisions surrounding the redistribution of large quantities of $SWEAT. However, we believe that the community’s influence should span across every facet of the Sweat Economy. Your input on features, Rewards, learning opportunities, and now Growth Jars can help shape the future of Sweat Economy.

Recently, we engaged with our community through a Twitter AMA, so we could hear from our community what type of Growth Jars matter most to them. We’re delighted to present five standout suggestions in this proposal.

TLDR

  • The new Growth Jar vote is available in your Sweat Wallet
  • It costs 0.1 $SWEAT to vote

What are Growth Jars?

A Growth Jar is a feature within the Sweat Wallet that gives you a chance to enhance and multiply your $SWEAT holdings. You have the opportunity to deposit and lock up your $SWEAT in return for earnings. You can also choose the duration of your lockup and the growth conditions. At the end of the selected period, the locked $SWEAT plus any earnings can be unlocked and returned to your wallet.

Now, our community has a chance to vote on the Jars they want to see in the app.

What is the proposal?

1-Year Anniversary Jar

Celebrating the spirit of community and the platform’s journey, the 1-Year Anniversary Jar is a limited-time offering. This Jar can earn up to 24%.

Note that this Jar comes with a maximum cap of 24M $SWEAT, ensuring fair distribution among early supporters and new participants alike.

Flexible Jars

For those who value liquidity and the freedom to move their assets as they wish, the Flexible Jars are a perfect match. They offer:

  • The ability to deposit and withdraw funds at will, without any restrictions.
  • A unique feature to claim accrued earnings in real-time, eliminating the traditional lockup periods seen in many platforms.

Lucky Draw Jar

Adding a tinge of excitement to the Jar experience, the Lucky Draw Jar is for those who love surprises. This Jar offers:

  • A reasonable earnings rate
  • Additional earnings on top of your monthly earnings, to be split among the Lucky Draw Jar holders

The more entries there are, the higher the potential monthly earnings will be

Sweat Hero Jar

For the gaming enthusiasts in the DeFi community, the Sweat Hero Jar presents a perfect blend of finance and fun:

  • You can participate in Sweat Hero battles
  • Success in these battles can lead to enhanced earning potential, making it an interactive option

Daily Boost Jar

Promoting a healthy lifestyle alongside financial well-being, the Daily Boost Jar is an innovative concept:

  • Users need to maintain a minimum of 10K steps a day
  • Achieving this daily goal can lead to increased earning potential, making it a win-win for health and wealth

Voting rules

  • A proposition is deemed successful with a simple majority
  • Propositions that aren’t successful this time might be revisited in the future. Not succeeding in this vote doesn’t mean outright rejection.
  • Voting can be extended, but propositions that have already won will be excluded.
  • The participation fee is set at 0.1 $SWEAT.
  • The minimum voting threshold is now 50,000, lower than previously, reflecting the non-critical nature of this vote. Although it’s not a vital governance vote, Sweat Economy team’s effort in crafting the successful proposition still necessitates a significant community contribution.

Why is there a voting fee?

  • Charging a fee for voting encourages community members to be active and engaged in the voting process.
  • There are different ways for you to earn the required tokens (in this case, $SWEAT) to pay for their voting fee. For example, you can participate in activities like Learn & Earn or battle your friends in Sweat Hero to earn more $SWEAT.
  • Currently, voting is done by making transactions to a public address. In the future, the plan is to introduce smart contracts that can accept digital signatures as a way to represent votes. This could make the voting process more efficient and secure.

Cast your vote

Open the Sweat Wallet app and navigate to the home screen.

There you will see the option to cast your vote.

Follow along

Check out more of the community contributions in the #governance-proposals channel on Discord and in our Telegram channels.

The Sweat Team

Stay up to date with all the latest news on our Twitter, Discord, Telegram, and Reddit.