In a recent interview, SWEAT founder Oleg Fomenko outlined the Foundation's plans for the Sweat Wallet over the next 12 months.
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No new developments are planned for 2026, as the primary focus will be on expanding support for 5 new blockchains and integrating WalletConnect, in line with the 2025 roadmap.
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Approximately 75% of newly minted tokens are staked immediately.
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The team has already covered 80% of its operational costs.
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The Sweat Wallet is projected to become profitable within the next 6 to 12 months.
Additionally, Oleg mentioned on Twitter/X that 100% of future profits would be dedicated to token buybacks, contradicting the earlier plan to allocate 50% of profits for this purpose. This statement has caused some confusion within the team regarding the Foundation's profit distribution strategy. It was also reveled that the team conducted test buybacks in the second half of 2023 using treasury funds increased the token’s value by ~200%.
The team has consistently been burning unclaimed tokens distributed to users during the first Token Generation Event (TGE). These tokens come from inactive wallets, which the community generally considers “dead” and irrelevant to the circulating supply. Furthermore, Furthermore, following the end of the U.S. launch allocations, the team has set a deadline (Nov 17) for users to claim their tokens, potentially signaling an intention to reclaim additional unclaimed tokens to keep fueling these burns.
As of November, SWEAT has reached an all-time low, with a current market capitalization of approximately $10 million and a fully diluted valuation of around $27 million. This decline has sparked growing frustration among some holders, users, and investors. However, SWEAT appears to be on the verge of profitability, which, as the 2023 buybacks have shown, could prove to be highly beneficial if achieved.
(1 SWEAT = 0.001329 USD)
