• Sweat Economy is a Web3 project that seeks to unlock the economic value of movement.
• It has been available in the US market since 2016 with its app called Sweatcoin and is set to launch its SWEAT token and Sweat Wallet soon.
• US customers will be able to install the Sweat wallet application starting September 12, 2023, where they will receive their allocations of SWEAT according to their current ‚Sweatcoin‘ holdings.
About Sweat Economy
Sweat Economy is a web3 project that seeks to unlock the economic value of movement. It operates a Web2 application called Sweatcoin app which has been available in the US market since 2016. The app rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking.
Launch of SWEAT Token and Web3 Wallet App
In September 2022, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application called Sweat Wallet but it failed to pass the regulatory barriers in the US. The wallet, which currently operates in other parts of the world, has been consistently ranked top 10 Blockchain Dapps on DappRadar their Token Generation Event (TGE).
Distribution of SWEAT Tokens
Starting on September 12th 2023, US Sweatcoin app users will receive their allocations of SWEAT in proportion to their current ‘Sweatcoin’ holdings and can start earning more SWEAT tokens for their steps right away. Tokens will not come from additional token emissions but from existing token allocations.
Founder Oleg Fomenko’s Comment
Commenting on the new development, Founder Oleg Fomenko said: „It is a great pleasure to finally bring our platform accessible for millions of Americans who have supported us over these years.“
With this launch later this year, US customers will be able to join others around the world who are already using and earning rewards through Sweat Economy’s platform.