Sweat Economy

SWEAT: The Move-to-Earn Cryptocurrency by Sweat Economy

SWEAT is the native cryptocurrency of Sweat Economy, a pioneering move-to-earn ecosystem that rewards users for their physical activity. Launched in September 2022, SWEAT token (SWEAT) has revolutionized the way people think about fitness by transforming movement into a valuable digital asset.

What is SWEAT Token?

The SWEAT token is the cryptocurrency component of the Sweat Economy ecosystem. It represents a digital evolution of the original Sweatcoin app that had accumulated over 110 million users globally. SWEAT operates on the Near Protocol blockchain, providing users with a tangible reward for their physical activity.

While the original Sweatcoin existed only within the Sweatcoin app, SWEAT tokens are fully transferable, tradable digital assets that can be used across multiple platforms and exchanges, including popular trading platforms where you can automate your SWEAT trading with Cryptohopper's advanced trading bot.

How Does SWEAT Work?

The SWEAT ecosystem operates on a simple yet effective principle: movement equals value. When users walk or run, the Sweatcoin app tracks their steps and converts them into Sweatcoins. These Sweatcoins can then be converted to SWEAT tokens at a 1:1 ratio.

The process works through these steps:

1. Download the Sweatcoin app and connect it to your phone's health tracking system
2. Take steps in the real world
3. Earn Sweatcoins for verified steps
4. Convert Sweatcoins to SWEAT tokens via the wallet functionality
5. Use, stake, or trade your SWEAT tokens

The verification system ensures that only genuine movement is rewarded, preventing abuse of the system and maintaining the integrity of the SWEAT token economy.

SWEAT Staking: Grow Your Holdings

Yes, SWEAT offers staking options through its "Growth Jars" system. Staking SWEAT allows token holders to earn additional rewards while contributing to the ecosystem's stability. The staking mechanism works as follows:

• Users can stake their SWEAT tokens for predetermined periods (currently ranging from 3 to 12 months)
• Longer staking periods typically offer higher annual percentage yields (APYs)
• Staked tokens are locked for the duration of the staking period
• Upon completion of the staking period, users receive their initial stake plus the earned rewards

The Growth Jars system offers different tiers with varying reward rates, providing flexibility for both short-term and long-term token holders looking to maximize their SWEAT holdings.

Mining SWEAT: Movement as Mining

Unlike traditional cryptocurrencies, SWEAT doesn't use computational mining. Instead, it pioneered the concept of "movement mining" where physical activity replaces computational power. Each verified step counted by the Sweatcoin app generates new SWEAT tokens, essentially making your body the mining hardware.

This innovative approach offers several advantages:

• Environmentally friendly with no excessive energy consumption
• Accessible to anyone who can walk or run
• Promotes physical health alongside financial rewards
• No specialized equipment required beyond a smartphone

However, it's worth noting that the "minting rate" (how many SWEAT tokens you earn per step) decreases over time according to a predefined token emission schedule, encouraging early adoption and consistent activity.

What Is SWEAT Used For?

The SWEAT token has multiple utility functions within and beyond the Sweat Economy ecosystem:

• Marketplace purchases: Buy products, services and NFTs in the Sweatcoin marketplace
• Staking rewards: Earn additional SWEAT by participating in Growth Jars
• Governance: Participate in ecosystem decisions through the forthcoming DAO structure
• Trading: Exchange SWEAT for other cryptocurrencies on popular exchanges using automated tools like Cryptohopper
• Partner promotions: Access special offers from Sweat Economy's growing list of brand partnerships
• Boosters: Purchase boosters to increase your earning potential within