What makes SWEAT unique?

SWEAT is unique in its purpose of inspiring the world to move. The scale and adoption of SWEAT is merely an effect of this purpose, a validation of the mission.

The purpose and the scale of SWEAT provides a unique context for the token. This effects the token design, the revenue structure, and the Foundation’s plans for the future.

Adoption… so far

The Sweat Wallet was the most used DApp in the week after the launch of SWEAT. Since then, it has floated around the top five, which is still incredible considering the app is a very young product. It allows users to mint SWEAT for their steps, to use that SWEAT in staking, and to access rewards. As the features and utility grow, we can expect the user base to grow.

In addition, it was the №1 Finance app in 51 countries, and top five in 115 countries.

Utility

SWEAT has fundamental value to users. In app staking offers up to 12% yield is attractive, and has been designed as a net deflationary feature. Staking is complemented by the rewards being offered through the Sweat Wallet.

The Sweat Wallet is offering users Fifa World Cup packages (see the reaction of one lucky winner), 3,000 Adidas gift cards, 6,000 Amazon gift cards, 10,000 NFTs from Few and Far, and 1ETH. Soon, it will offer increased minting limits, 50% off transaction fees, Sweatcoin premium subscriptions, governance rights, exclusive access to Discord communities, and more. This is only the beginning of the rewards journey.

This is all on top of the attractive yield being received by users.

Utility beyond rewards is also coming. The fiat on-ramp is in testing, while our very own NFT game will be live later this year. At its most basic level, SWEAT has a fundamental utility. And it’s only going to grow.

Revenue streams

• User engagement — B2B — our Beta Learn to Earn had 815K participants, and 2M people have seen the Few and Far NFT offer. These are just examples of an incredible marketing opportunity for many projects, who will pay to engage Sweat Wallet users.
• Transaction fees — B2C — the Sweat Wallet is developing full wallet functionality, with staking already live, fiat on-ramp in testing, and NFT games and crypto-crypto exchange coming soon. To make any meaningful revenue out of transaction fees, you need a vast user base. Thanks to our product and ecosystem, we have that.

Buy and burn/yield

The Foundation has committed to use 50% of its profits to buy SWEAT on the secondary market and burn it, or else distribute it as staking yield (which makes the staking initiative net deflationary). Buy and burn/yield is not unique to our project, but it is a vital consideration and a necessary part of complementing the current mass token adoption.

Token emission design

Two weeks into SWEAT’s life, and it is already 5% more difficult to mint (at time of writing 1 SWEAT requires 1,050 steps).

Many people enquire about the prevention of mass inflation. Because SWEAT has no barriers to entry, and an exponentially growing user base, how do we preserve token utility?

Making each next SWEAT more difficult to mint is the key. Inspired by Bitcoin’s halving, but in real time, each next SWEAT requires more steps to mint (increasing marginal cost of production).

Purpose and vision

The scale and adoption we are seeing is validation of our purpose and vision. But it is only the beginning, there is still so much scope for scaling. Later this year, for example, we will launch Sweat Wallet and Sweatcoin across the Asian markets.

Looking ahead, the Foundation wants to use the principles of decentralization to create an open economy that is accessible to anyone, whether an individual, or businesses, brand, government, or health institution.

One example of the vision is the blueprint we have laid out in our Litepaper for onboarding new Movement Validators. Not only does this encourage decentralization and adoption, it allows users to earn SWEAT for an ever-growing range of activities (cycling, swimming etc.). Equally, the proposed DAO structure that will enable users to monetize their movement data is a demonstration of the long term vision we have for SWEAT.

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