After the success of Stepn, Sweatcoin is a project that many people are interested in. This can be considered a free version of Stepn on the Near ecosystem. With over 90 million users available. They are starting to apply blockchain technology and move to earn models into their app.
In this article, Coincu will present some background information about the project and its special features.
What is Sweatcoin?
Sweatcoin is a free Move to Earn app that gives players SWEAT tokens based on how many steps they walk every day. They can use it to buy things, donate money, and trade cryptocurrency.
Sweatcoin connects to Google Fit, Apple Fit, or your mobile device’s default fitness program to track your daily steps. People can then utilize Sweatcoin by walking or jogging at the gym or outside.
What is the project trying to achieve?
Currently, the project is continuing to negotiate with other local and national governments according to the needs of users, to share Sweatcoin’s vision of a more dynamic, healthier society.
Besides, Sweatcoin is also working with healthcare providers and insurance companies around the world, to create an even greater impetus for people to move and exercise. strong.
Or you can use SWEAT points to receive the equivalent of SWEAT tokens when the platform is successfully launched on the NEAR blockchain, after the TGE event (token generated event).
Sweatcoin can work without mobile data because it can update data and keep up with your previous steps when you enter an area with wifi, a mobile data network.
The application works through the “step counting” function available on the phone, smartwatch, and GPS navigation function.
What is the unique selling point?
Daily 2x Boost
Every day players will be able to take part in the 2x Daily Boost challenge. This challenge allows users to choose the 20-minute periods of the day when they move the most to get the most steps.
During this time, users will get double the number of steps when the challenge ends.
Every day, Sweat coin will give you 3 rewards corresponding to 3 tasks per day:
- The first and second tasks are to watch promotional videos to receive a gift. Each gift box will have a random reward from 0 to 1000 SWEAT.
- The third quest is the “Walk 1,000 Stepn” quest. For every 1,000 steps you will receive 0.95 SWEAT. Up to a day players can get 9.6 SWEAT corresponding to 10,000 steps.
Shop and Bid
Sweatcoin has cooperated with many other brands so users can have more choices for the purposes of using their SWEAT points for Shop and Bid.
Shop: Users pay SWEAT points that they collect to exchange for vouchers including cash value and other valid vouchers of brands such as Pay Pal, NetFlix, Adidas, Amazon,… Also random. However, there will also be a voucher for an aircraft-supported trip.
Bid: Users use the SWEAT points they collect to participate in the auction of random items that Sweatcoin sets.
Charity campaigns such as Sweatcoin for Good to support charities carrying out events such as: Help restore 250 water well in Africa, Create a Sustainable Future for our Seas,…
Sweatcoin has grown for a long time thanks to cooperation with more than 100 charities such as Lonely Whale, Cancer Research, and African Wildlife,…
In addition, Sweatcoin is an official partner of Save the Children International (SCI), commonly known as Save the Children. It is an international NGO that promotes children’s rights and provides relief and support to children in developing countries.
Users can join the campaign by donating SWEAT tokens to those charity campaigns.
- Token Name: Sweatcoin.
- Ticker: SWEAT.
- Blockchain: NEAR.
- Token Standard: NEP-141.
- Token Type: Utility & Governance.
At the Token Generation Event (summer 2022), All Sweatcoins previously earned by players will be converted into SWEAT tokens and 1 sweatcoin equals 1 SWEAT.
After the TGE, you will create SWEAT with your first 5,000 steps, and earn sweatcoin for the next 5,000. At this stage, you will not be able to exchange the sweatcoins you have earned in the extra 5,000 steps a day with SWEAT. At some point, an exchange will be available.
Moreover, you can now create a SWEAT with 1,000 steps. However, after the Token Generation Event, each SWEAT will require more movement.
Token Release Schedule
Token Use Case
Currently, the number of SWEAT points that users collect on the application, will be used to convert into SWEAT tokens when the TGE event takes place.
SWEAT token is the project’s Utility token, used in the following cases:
- Pay for goods and services from great brands on the Sweatcoin app.
- Participate in charity campaigns.
- Tiered minting limits. Users who stake/accumulate more SWEAT will have higher minting limits.
- Rewards for participating in Staking and hold
Market and Community
Sweatcoin had a big team from all over the world — UK, Russia, Azerbajan, China, South Africa, France, Kazakhstan, Belarus, Poland, Romania, Spain, Italy, Greece, Turkey, Netherlands, Philippines. Moreover they speak 22 languages English, Russian, Azerbajan, Belarusian, Cantonese, Dutch, French, German, Greek, Hebrew, Indonesian, Italian, Kazakh, Mandarin, Pakistani, Polish, Portuguese, Romanian, Spanish, Tagalog, Turkish, Urdu.
Sweatcoin is a Move to Earn app with many practical applications. Their purpose is not only to help people exercise, but also to contribute a lot to the community through meaningful activities through charity programs. It is hoped that with the combination with NEAR Blockchain, Sweatcoin will bring the Blockchain concept to more people.
Find more information about Sweatcoin
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.