Sweat Economy (SWEAT) in the Market - MEXC Research

Project Information

Sweat Economy (SWEAT), an M2E cryptocurrency, was introduced by the sports health app Sweatcoin. Sweatcoin encourages healthier living by encouraging more people to exercise.

Sweatcoin is a well-known Web2 service that was introduced in 2016 and rewards users for their steps by utilizing a particular restricted currency. In excess of 50 different countries and regions currently use Sweatcoin, according to the cryptocurrency's official introduction. Currently, 11 million people use cryptocurrencies there.

After entering the Web3 market, Sweatcoin created the decentralized SWEAT, which is minted by users through the movement and by the application. In other words, users can reward themselves for exercising by earning decentralized SWEAT coins.

Sweatcoin launches a single-token approach based on SWEAT as opposed to NFT and dual-token tokenomics, setting it apart from current X2E-style projects. Since participating users are not required to purchase NFT as the entry threshold, the entry standard is lowered as a result. Users can easily register for the system by exercising.

The gameplay is simple, however there is just one token economy, which is a flaw. Sweatcoin is creating the casual and lively NFT game, which will be made available via the Sweat Wallet app. This will launch right after the Token Generation Event (TGE).

Sweatcoin users must stake SWEAT when playing the game in order to maintain the viability of the X2E economy. In order to achieve deflation, the project will collect fees and burn tokens. The winner will receive any SWEAT staked by the rival.

Additionally, Sweatcoin will activate the staking function. Repurchasing and burning SWEAT on the secondary market is funded in part by the unique profits of the parent company of the Sweat Foundation. In addition, the buyback offers advantages to the user.

Application Scenarios 

The main application scenarios for SWEAT include sports prizes, voting and governance, staking, payment mechanisms in the ecosystem, transaction costs, etc. The incentive in the Sweat Economy (SWEAT) economic system, meanwhile, may be greater the earlier you join up, and it is vital to remember that as time goes on and more people use it, the benefit will probably become smaller and unsustainable.

Tokenomics of SWEAT

According to the Sweat Economy's official debut, 25.8 billion SWEAT have been produced, of which 4.8 billion will be burned because the SWEAT's value has decreased.

In accordance with the tokenomics offered by the official Sweat Economy website, the distribution of the remaining SWEATs is as follows:

• 7.02% for ecosystem
• 22% for SweatCo Ltd
• 27.71 for Foundation treasury
• 25% for Lockdrop
• 10.92% for Team and advisors
• 2.68% for Seed round
• 1.33% for Public Sale
• 3.33% for Private round

Project Funding

On July 26, a consortium of investors led by Electric Capital, Spartan Capital, Swissborg Ventures, GSR Ventures, and Goodwater Capital invested $13 million in Sweat Economy.

Market Risks

• There was selling pressure in the secondary market following the opening of the Public Sale and Private Round.
• Potential selling pressure from the staff, advisers, and treasury of the Foundation.
• Customers' thirst for rewards puts pressure on sales.

Members of the MEXC community created this article solely for knowledge exchange and not as investment advice.