What is Sweatcoin?
Sweatcoin is an application that measures the number of steps we have taken using data obtained most often from our phone, but it may be another device that allows it. These steps are converted into Sweatcoin, which is an in-app currency that can then be used to purchase various items, both physical and virtual, to receive discounts on products from well-known brands, or to support charities.
The goal of the creators was to promote healthy habits and encourage people to move, not only offering better shape and well-being, but also an additional layer of rewards in the form of tokens.
Sweatcoin
In the application, you can also get sweatcoins for which we can support various foundations and participate in prize draws. But I will not talk much about it today, because its usefulness is negligible.
SWEAT token
In September 2022, a new token from the developers of the application was launched, which combines with the Sweatcoin offer and behind which stands the newly created Foundation - the Sweat Foundation.
SWEAT and Sweatcoin work side by side, with the difference that SWEAT is a token created on the NEAR blockchain (the main chain) and Ethereum and can be used freely in the cryptocurrency ecosystem. Sweatcoin continues to operate in a closed application ecosystem.
SWEAT inflation
It is also very important to understand that inflation SWEAT is very different from others in cryptocurrencies. No investment is required here! This means that there is no additional demand such as the basic requirement to buy tokens, in order to stake and earn inflationary rewards. Inflation is therefore specific and much more "painful".
SWEAT is aware of the huge inflation and is introducing many mechanisms to limit it and, above all, to give value to tokens so that they do not only serve to sell once users earn them for their basic physical activity.
One such limitation is just rewarding in SWEAT only the first 5,000 steps a day. Next 5000 steps give us Sweat coins (SWEET, it's not Sweatcoin!). Anything above these values is only good for our health and we do not receive sweat tokens or sweatcoins for it.
As you can see in the above graphic, over time, users for the same number of steps will receive a smaller amount of SWEAT.
Summary
In summary, in my opinion, it is not worth investing in SWEET, because inflation is too high and it will be very difficult for creators to stop it, but it is certainly worth using the sweatcoin application even for additional motivation to go out for a walk. Sweetcoin definitely shows us a lot of innovation and how cryptocurrencies can even be harvested in everyday activities. And I think that the creators will surprise us with new interesting ideas.
My referral link for Sweatcoin:
https://sweatco.in/i/kapiqkapiq
If you appreciate my work leave a vote and follow.
This is a one-time notice about a free service on steem.
There are communities that help support the little guy 😊, you might like ours, we join forces with lots of other small accounts to help each other grow!
Finally a good curation trail that helps its users achieve rapid growth, its fun on a bun! check it out. https://anentrypoint.github.io/school-of-minnows-landing/
A note on other bots warnings:
It's come to our attention that some of the people on this network (keys-defender run guityparties, and bots run by pfunk) have been attacking our advertorial notices by calling it a scam/fraud.
We have contacted the owners of those systems, we've shared our complete source code and processes, and explained that we've been running for longer that they have, and have been trusted by large subsets of users troughout, expressed all of our processes, which are simple, free, opensource and legitimate, and beneficial the blockchain and its users.
After doing lots of research and speaking to many other developers on this network, it's become clear that they use these false policing services to demote other projects in order to promote their own paid upvote scams and vote-abuse systems where they demote anything thats not designed to upvote their friends.
We respect their right to communicate what they want to, even if its false,however our project is highly respected, as well as open source, its already been audited by many users and its easy to confirm that there is no risk in using it.
Both our enrollment system and upvote bot is open source and whitelisted by MalwareBytes, accepted by Github, and we've serviced thousands of users since 2017, our bot is free and will only ever vote on your behalf if your idle reaches 100%.
We respect our users freedom, enrollement as well as unenrollment from our system is done directly on the blockchain and you do not need our services to join/leave.
Bot source: https://github.com/AnEntrypoint/school-of-minnows
Landing page source: https://github.com/AnEntrypoint/school-of-minnows-landing
School of minnows is FREE OPEN SOURCE software, we run the bot on our own resources and maintain it for free, if you have any questions about the platform, the quickest way to make contact is directly contacting the lead developer on discord: moonshine#6211 if you want to add a friend directly, or on the entrypoint discord: https://discord.gg/NED33mNpms
We are always active and happy to answer any questions you may have.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit