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About Sweat Economy
Disclosures
Sweat Economy risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Sweat Economy. All crypto assets are risky, there are general risks in investing in Sweat Economy. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
Sweat Economy’s price performance
Sweat Economy on socials
Guides
Sweat Economy FAQ
Sweatcoin is a fitness application that incentivizes users to engage in physical activity. The app rewards participants with Sweatcoins for every 1,000 steps they take. These Sweatcoins can be utilized to purchase various goods, services, and experiences in the in-app marketplace.
By combining exercise and rewards, Sweatcoin motivates users to lead an active lifestyle while allowing them to redeem their rewards.
Move-to-Earn (M2E) is a concept embraced by the Sweat Economy, which encourages individuals to stay active by offering incentives for achieving specific real-world milestones.
M2E applications have gained significant traction in the fitness industry and are projected to maintain popularity. This model motivates users to engage in physical activities by providing tangible rewards, fostering a healthier and more active lifestyle.
Easily buy SWEAT tokens on the OKX cryptocurrency platform. One available trading pairs in the OKX spot trading terminal is SWEAT/USDT.
You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), for SWEAT with zero fees and no price slippage by using OKX Convert.
Dive deeper into Sweat Economy
Blockchain has a wide range of use cases, and the development of Sweat Economy (SWEAT) crypto token and ecosystem proves this to be true. So far, Sweat Economy’s landmark Sweatcoin app has gathered millions of users from across various countries.
What is Sweat Economy?
Sweat Economy, formerly known as Sweat Coin, has undergone a rebranding to align with its vision and remarkable growth. The project's native token, SWEAT, derives its name from its core objective and mission. Sweat Economy aims to combat carbon footprint on a global scale and incentivize users who share this common goal.
The Sweat Economy team
The Sweat Economy team comprises accomplished professionals who bring diverse expertise to the project. Co-founder Leg Fomenko, hailing from Russia, has a wealth of experience working at renowned companies such as Coca-Cola and Visa. Another co-founder, Anton Derlyatka, holds an MBA from the London Business School and has further enhanced his knowledge through Executive Programs at Stanford Business School and UC Berkeley.
Egor Khmelev, also a co-founder, is the CTO of Sweat Economy. With a background in development and a degree in Computer Science from the University of London, Khmelev has led successful tech startups in Moscow before joining Sweat Economy. Henry Child, the CCO of Sweat Economy, started his career in traditional finance, working at a hedge fund, before transitioning into the tech and crypto industry. He has held positions at crypto companies Bitfinex and Tether and has also worked at Deliveroo HQ.
How does Sweat Economy work?
Sweat Economy operates within the Web3 paradigm, with its flagship application, Sweatcoin, being launched in 2016 and later integrated into the Web3 ecosystem. The app incentivizes users to engage in physical fitness activities by rewarding them with points for each step they take or jog they complete.
After a few years of app development, the Sweat Economy team collectively decided to introduce the conversion of in-app rewards into their native cryptocurrency. This integration with Web3 technology contributed to an increased user base, with Sweat Economy experiencing its highest volume of users in 2022.
SWEAT tokenomics
The SWEAT token currently has a circulating supply of 4,808,026,671 tokens out of a total supply of 22,527,508,507 tokens.
SWEAT use cases
SWEAT serves as a reward for users of the Sweat Economy app, incentivizing physical activity and providing crypto rewards. The current value of SWEAT determines the value of the reward.
Additionally, as an Ethereum-based token, SWEAT can be used for staking and is supported by staking protocols like OKX Earn. Furthermore, SWEAT functions as a governance token, granting holders the ability to make decisions that benefit the ecosystem.
How is SWEAT different from STEPN?
SWEAT and STEPN (GMT) were launched in 2022, but Sweat Economy has been active since 2016, building its ecosystem off-chain before transitioning to an on-chain model. While SWEAT focuses on incentivizing physical activity and reducing carbon footprint, STEPN is a prominent move-to-earn project in the crypto industry.
The future of Sweat Economy
Sweat Economy has exciting plans for the future, including the launch of a Web3 game that will complement its expanding ecosystem. The game will undergo thorough beta testing before being released on the mainnet. Users can compete and earn SWEAT tokens by completing tasks with both real and virtual step competitions. In-game non-fungible tokens (NFTs) will enhance the virtual step competition, adding another layer of engagement and rewards for participants.
Disclaimer
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