Move to Earn is the latest cryptocurrency trend in which you are paid to walk, or jog. Not only can you enhance your health, but you can also be compensated for it. The Sweatcoin is the move-to-earn app on NEAR Protocol. Let’s take a look at Sweatcoin with Nearity by heading over the following detailed information.
What is SweatCoin?
Sweatcoin is a move-to-earn app in which users can receive free SWEAT coins based on the number of steps. They can use it to make purchases, donations, and trade cryptocurrencies.
What is the SWEAT coin?
SWEAT is minted solely by verified movement.
Key Metrics of SWEAT coin
Token Name: Sweatcoin
Token Standard: NEP-141
Token Type: Government
Total Supply: Utilities, Government
Circulating Supply: updating
Token Use Case
SWEAT coin is considered a specialized form of cryptocurrency in the SweatCoin ecosystem. In more detail, this type of token possesses a number of specific functions as follows:
- Gas Fee: App users can completely use the SWEAT tokens to pay for fees on the platform.
- Government: SWEAT Holders can vote or suggest ideas to improve the quality and develop Sweatcoin in the future.
- Liquidity: SWEAT is used to provide liquidity on the platform
- Reward: The function used as a reward for participants in Staking on the Sweatcoin platform is also very popular.
In addition, SWEAT is a utility token of the project, and is used in the following fields:
1. Pay for goods and services of major brands on the app Sweatcoin
2. Participate in charity campaigns
3. Minting limit per level. Users with a greater SWEAT balance will have a higher minting bound.
5. Rewards for participating stake and hold
How to earn a SWEAT coin?
- The first step: Download the compatible Sweatcoin app to your phone
- The second step: After that, create an account and log in to the app
- The third step: Create your SWEAT wallet
- The fourth step: Get moving. Users will be able to use the features included in Sweatcoin to perform tasks and earn rewards with Sweat coins.
- Finally, let’s stay in touch for updates
Especially, the system of tasks that users can use to earn money from Sweatcoin will be:
- Daily Rewards entail completing daily tasks such as walking or jogging. As a standard member, you can only earn 0.95 Sweatcoin for every 1,000 steps taken, and you can only earn up to 5 Sweatcoins every day. Therefore, you simply need to ensure that your mobile device is always connected to the Internet as well as you should also bring your mobile device with you every time you go out to maximize your earning potential.
- Inviting a Friend is a task to introduce the ref link. Accordingly, for each person you refer to participate in the challenge, the player will be able to receive 5 Sweatcoins as a commission. When you reach 30 recommendations, you are instantly designated as a Sweatcoin influencer. You will subsequently receive a welcome email outlining the processes for earning cash when inviting others.
- Daily 2X Boost will be the time when the application allows players to double the bonus. This means that within about 20 minutes of the challenge’s start, the number of rewards earned by the player will automatically X2. As a result, jogging during this time to increase the number of steps will be a better solution than walking.
- Create groups and challenges. Establish teams and challenges. You may form a group and ask other users or friends to join it. You may make challenges in a group. This is a terrific method to keep inspired to exercise, and it is one of Sweatcoin’s key functions.
Phase 1: In the coming months
- Sweat Wallet App
- Staking SWEAT (grow)
- MVP: bonuses for staking SWEAT
Phase 2: 2022 – This year
- SWEAT NFTs
- Fiat on-ramp
- Including future staking rewards Inactivity fee
- Inactivity fee
Phase 3: 2023 – 2024
- Sweat DAO
- NFT marketplace
- Crypto for crypto exchange
- Curated deals on the cryptocurrency marketplace
Phase 4: 2025 onwards
- Oleg Fomenko is the co-founder and CPO of the project. He has also worked with major corporations such as Visa, Pepsi, BCG, and BT.
- Anton Derlyatka is also the co-founder and CEO of Sweatcoin up until now.
- Egor Khemelev is the project’s co-founder and CTO. He is a person who possesses a solid background of knowledge and experience in the field of graphic design and computer science.
The meaning of the project
The benefits of walking include:
- increased cardiovascular and respiratory fitness (heart and lungs)
- lower risk of heart disease and stroke
- better management of non-infections diseases such as hypertension, high cholesterol, joint, and muscular pain or stiffness, and diabetes
- better balance and bone strength
- improved muscle strength and endurance
- body fat was decreased
In addition, walking promotes recovery from mental health disorders and is an important measure to improve mental health, according to a large body of evidence in past studies.
Aside from the various health advantages of physical activity, more active communities may provide extra returns on investment by using fewer fossil fuels, producing cleaner air, and having less crowded, safer roadways.
In the Sustainable Development Agenda 2030 program, the World Health Organization (WHO) has established a worldwide action plan on physical activity 2018-2030: more active people for a healthier world. The Sweatcoin project has also made a valuable contribution to WHO’s a global health plan. The Sweatcoin project not only brings economic benefits to users but also they do daily physical activities to help them improve their health and reduce disease risks.
- Sweatcoin is a move-to-earn app, in addition, users can perform tasks to receive SWEAT coins.
- You can use the SWEAT coin to pay for transactions on the Sweatcoin app, donate, stake/accumulates, and government.
- The Sweatcoin project not only brings economic benefits to users but also they do daily physical activities to help them improve their health and reduce disease risks.
Sweat Economy’s community