Sirwin
Sirwin

SWEAT Economy: Maintaining Deflation Since July 2023

By MakeItReal | MakeItReal | 23 Apr 2024


Hello HODLers!

 

Sweat Economy launched with a groundbreaking mission: to reward users for their movement with a valuable, utility-driven token. But what truly sets Sweat apart is the health of $SWEAT token itself.

Just ten months after launch, $SWEAT achieved a rare feat in the crypto world: deflation.

 

What is deflation?

Deflation occurs when the supply of a token is actively reduced over time. For $SWEAT, this has been achieved through a few key mechanisms:

  • Decreasing Emissions: This refers to slowing down the rate at which new tokens are created and enter circulation. Sweat Economy utilizes Minting Pause, the Minting Difficulty curve and soon, Evaporating unclaimed $SWEAT to achieve this. As users walk, the rate at which new $SWEAT is minted gradually slows down, preventing excessive token emissions.
  • Creating Token Sinks and Burning: A token sink is any mechanism that removes tokens from circulation. The most common method is burning, which permanently removes tokens from the supply.
  • Locked Allocations: A significant portion of the total $SWEAT supply is locked away for extended periods, preventing immediate sell-off and minimising the amount of circulating supply.

 

What burns has Sweat Economy completed?

As you know, the community is the most valued cog in the Sweat Economy machine, and it’s because of your active participation in proposals and votes that we action the majority of burns.

Let’s dive into all of the burns that have been completed:

Excluding the prelaunch burn of 4.5B sweatcoins, around 1,383,846,321.90 $SWEAT (~1.38B) has been burned.

If we include the prelaunch sweatcoin burn of 4.5B, the total $SWEAT burn equates to 5.88B $SWEAT burned!

Both of these are excluding any $SWEAT sent by the community to the public burn address, burn.sweat.

This combination deflationary mechanisms allowed $SWEAT to achieve deflation since July 2023, just 10 months after TGE. This is a significant achievement, especially considering the young age of our project.

 

The Future of the Movement Economy

Deflationary $SWEAT is just one piece of the puzzle. The Team is constantly innovating to build a robust Movement Economy. Stay tuned for exciting developments such as:

  • $SWEAT As Gas: No longer will you have to pay NEAR Gas Fees. Simply pay a small $SWEAT Gas Fee, and we’ll take care of the rest.
  • Magic Keys (FastAuth): Upgrade your Sweat Wallet access by linking your $SWEAT Wallet to your email address. You no longer have to worry about losing a seed phrase!
  • Redeemable Rewards: You can use your $SWEAT to directly purchase items, being physical goods, gift cards and more.
  • Community governance: Your voice matters! Shape the future of Sweat Economy through community voting.

Sweat Economy is still in the early stages of the Movement Economy revolution. By getting active and earning $SWEAT, you’re not just improving your health; you’re contributing to a groundbreaking movement. Join us as we redefine how we value movement and create a healthier, more rewarding future!

 

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3. MON PROTOCOL airdrop:

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Earn $MON Airdrop Points by completing Missions! Insert my referral code to earn 200 extra points: Angelo95Cigna

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2. Insert my referral code to earn 200 extra points: Angelo95Cigna

3. Complete missions and spin the wheel daily to collect Mission Points.

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4. Xion airdrop:

XION is the first modular Generalized Abstraction layer, purpose built for consumer adoption by enabling seamless user experiences for everyday users. Xion raised over $11M from industry leading investors including Animoca Brands, Circle Ventures, Multicoin, Valor, Hashkey, Spartan, Mechanism, Figment, Stateless Ventures, Coinlist Seed, Injective, Alliance DAO, Sandeep Nailwal (Polygon), and more.

Sign up and enjoy your airdrop here: https://xion.bonusblock.io?r=aX7z6PBd 

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5. Param airdrop

Param is a Web3 gaming ecosystem supported by Animoca Brands that is not listed yet, but you can earn points that will be converted in crypto when the token will be listed.

Here's the link for the airdrop: https://paramgaming.com/?referCode=32E62FB6C0#/signup 

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6. Torum – The #SocialFi ecosystem for crypto enthusiasts where you can earn everyday!
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Torum is the world’s largest Web3-driven SocialFi ecosystem that is specially designed to connect cryptocurrency users.
The Web3.0 ecosystem is built on a social media platform, integrated with a yield farming platform for DeFi investors (Torum Finance), an NFT marketplace for crypto artists and Avatar NFT for Metaverse enthusiasts.
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XTM is the utility token of Torum ecosystem and it's now listed on exchanges like Kucoin, Huobi, Uniswap and Pancakeswap.

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MakeItReal
MakeItReal

🎓Master's degree in Strategic Management 👑Torum Ambassador 📳Admin of Torum Official Italian Group on Telegram 📳Admin of Hard Rock Crypto on Telegram


MakeItReal
MakeItReal

Welcome to my blog! 🚀 Crypto HODLer 🎓 Master's degree in Strategic Management 👑 Torum Ambassador

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