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The SWEAT Score card

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Avatar for M3i
Written by   184
1 week ago

When the sale of SWEAT was to be hosted on DAO Maker, many barely gave it any attention. Little did they know that history was about to be made as a new record for token sale on the platform was eventually set. The sale raked in about USD 1M for SWEAT tokens within about 15 minutes.

This no doubt has earned it a place in the halls of fame of the DAO Maker platform. This came barely a few days before the much anticipated official SWEAT token launch which happened today 13TH September, 2022.

Users who had earned Sweatcoins over time via the Sweatcoin app and had downloaded the SWEAT wallet app had the privilege of earning SWEAT tokens in a ratio of 1:1 to the Sweatcoins they had accumulated.

For those who have been faithfully using the app since it's launch around 2016 will surely be smiling to the bank based on their accumulated sweatcoins now turned SWEAT token.

The SWEAT wallet has also been updated with new features such as the NFT gallery and the rewards section. The NFT gallery is expected to support NFTs sent from NEAR wallet.

The rewards section offers rewards for those who stake their SWEAT tokens. This enables stalkers to become eligible to participate in draws for an array of items ranging from:

10 USD Adidas gift card to

Apple MacBook Pro

The draw a 'GROWER' can participate in is dependent on the number of SWEAT they have grown via staking.

Although the Exchange function in the SWEAT wallet isn't yet active , it is expected to become functional in no distant future. The GROW option which I had hunted in my previous post to be a staking option is now active , offering users the option of staking via locking up their SWEAT for different time periods with different returns on investment (ROI). Naturally the higher the lock up period, the higher the ROI as shown in the screenshot below .

The transfer option is also active allowing users send SWEAT to other wallet owners by entering the username of the recipient. There's also the option to request tokens from other users.

The option of adding SWEAT by buying via bank card as well as the exchange option are yet to be activated.

However users who bought via the DAO Maker sale have the option of trading their tokens already. This is where it gets really interesting, as at the time of writing this piece, SWEAT is already trading on about 7 centralised exchanges.

From the screenshot above available via a tweet by SWEAT Economy, five exchanges are listed viz:

  1. BITFINEX

  2. OKX

  3. FTX

  4. KUCOIN

  5. BYBIT

Others that have listed SWEAT are MEXC Global and Gate.IO.

Some of them such as FTX are already hosting trading competitions for the SWEAT /USDT trading pair. FTX has a 30K USDT pool for users who trade at least 3K sweat between September 13 and 27, 2o22.

It even gets better it is also available for trading in dexes such as UniSwap and Ref. Finance.

Ref.Finance has a dedicated pool for SWEAT X NEAR with triple rewards in SWEAT, NEAR and REF.

We expect more CEXes and DEXes to get SWEAT listed in no distant future. Who knows, we may also see the token going across more chains aside Ethereum and NEAR which it currently supported.

It's still early to start earning while sweating it out as 1000 steps still presently earn you 1 SWEAT. This will not remain so in the years ahead as shown in the infographic below.

The difficulty of mining new SWEAT will walking is designed to get harder with time as the number of steps to earn 1 SWEAT will increase in the future. Also as a mechanism I presume to check mass dumping of SWEAT token, only 10% of SWEAT earned via the sweatcoin app is available to those who earned them while the rest 90% earned will gradually become available over a 24 month period.

My two cents, if you're a very physically active person who loves jogging, taking walks or hiking, you should probably give the sweatcoin app a try for a chance to not just SWEAT but to also earn some of it i.e. the SWEAT token. Who knows your hard earned SWEAT could be worth much more in future. Besides if you aren't interested in the financial gains you could donate your earnings to charitable courses via the challenges section in the sweatcoin app.

By the way, SWEAT has already hit an all time high of 0.08 USD according to CoinMarketCap charts.

Thank you for SWEATING.

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Comments

Do you think it will reach $1?

$ 0.00
1 week ago

Nothing is impossible in the cryptospace considering the fact that it was able to reach 8 cents within a short period after the launch.

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User's avatar M3i
1 week ago

When will it list to the exchange? We can't transfer sweat coin to any exchange. That's sad for us.

$ 0.00
1 week ago

I think it's only a matter of time but surely they'll enable the exchange function within the Sweat wallet to allow holders who earned sweat to trade them. I suppose they didn't enable trading now to prevent mass dumping of the token. I am optimistic that sweat is a good project because of its many use cases such as contributing to charities et al.

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User's avatar M3i
1 week ago

Nice update. I wasn't aware that the SWEAT token had already been launched. Kudos to the team and good luck to the holders

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1 week ago