Originally published for Sweat Economy
This is the second in a four part series outlining the various phases of our tokenomics. In the first tokenomics article, we introduced the fundamentals of SWEAT: the basic principles, the token supply, and the tokenomics which will be in place immediately after TGE (phase one).
Next up is phase two, scheduled for this year. Phase two is the moment we welcome our community into a truly original, exciting, and rewarding Web3 experience.
This phase of the tokenomics will focus on utility within the Sweat Wallet App.
The Sweat Wallet App
The app will be a user’s entry point into Web3. In phase one of our tokenomics, the app is a place to manage SWEAT, to earn more by moving and staking.
With phase two, the app becomes the home of an entirely new Web3 experience.
- SWEAT NFTs
- Fiat on-ramp → easily purchase SWEAT and other cryptocurrencies with your credit/debit card
This year, the Sweat community will be able to acquire SWEAT NFTs! The NFTs will be a vital key to unlocking your SWEAT experience.
We have designed the NFTs to reward movement; and to make the entire process of Move to Earn enjoyable and fun.
The SWEAT NFTs will represent your attitude and participation in physical activity — they will evolve, upgrade, decay and be subject to boost mechanisms.
For now, we’re keeping some of the most exciting information up our sleeve 🤫
This simply means the ability for users to deposit traditional currencies, such as USD, EUR, and more, in the app. In addition to requiring integration with CEXs/DEXs, we will work with leading payment processors to allow you to easily purchase SWEAT using your card, bank account, etc.
With the on-ramp, the Sweat Wallet App becomes so much more than your place to manage SWEAT. It will be your way to manage all your cryptocurrencies.
We are creating this feature because we want to make users’ Web3 experience as simple as possible. One of the blocks to mass crypto adoption is the difficulty of setting up a wallet, onboarding fiat money, and trading etc.
With the on-ramp, we are giving millions of users access to the world of crypto directly through the Sweat Wallet App itself: including buying, selling, exchanging, and other DeFi functions.
We’re bringing millions into Web3. To make the experience accessible, we want to make the process simple.
Stay tuned for the next article in this series. We will also be releasing articles about the Sweat DAO, the Sweat Foundation, and more, such as our research on the economic value of movement.
For now, start earning crypto for your steps by following this link. To learn more about Sweat Economy, visit our website. For the latest news, make sure to follow us on Twitter, Discord, Telegram, and Reddit.
The Sweat team