This month the cryptocurrency market has seen a downturn with Bitcoin falling by -6.5%, followed by Ethereum at -5.5% and NEAR, the blockchain where SWEAT is built on, backtracking by a staggering -34.6%.
Sweat Economy has also been affected by the bear market losing -32.1% of its value, however it still remains the second move-to-earn token by market cap, behind STEPN (GMT) who has seen a decline of -29.1% over the last 30 days.
Even though token price is not the main driver behind Sweat Economy's development, investors and holders alike are eager to know what's to come for Sweat Economy and whether this can turn things around for its token price.
The following features were announced or discussed during Twitter Spaces, the Sweat Economy Discord or AMAs within the month of June.
Recent announcements
- 95% of Sweat Wallet users have Sweat as Gas, which they can use to pay NEAR gas fees in SWEAT.
- Governance Vote on increasing daily SWEAT minting limits to be launched this Wednesday in hopes of encouraging more movement and potentially reduce token emissions by 30%.
Upcoming Sweat Wallet features
- Sweat as Gas to be expanded to all actions in the Sweat Wallet.
- Claim All: Including the ability to collect all SWEAT from various sources (steps, spinning wheel, grow jars & lessons).
- Step-based Jars: Little details have been given, but it seems to be a grow jar with a flexible yield based on the user's step count or locked behind a step goal. More info will be given later this year.
- New Grow Jar interface.
- Magic Keys: The ability to recover your wallet using your email. Making the Sweat Wallet more web2-user-friendly.
- SWEAT to be expanded to the BNB blockchain making use of Near Protocol's Chain Abstraction technology (awaiting auditing).
- Redeemable rewards: in the final stages of implementation. Users will
A demo of Magic Keys was published on April 24, 2024.
Magic Keys is in the final stages of testing, the team responsible for Redeemable Rewards is in the final stages of implementing them into the wallet and according to Michael Brink, Head of Product of Sweat Economy, step-based jars are "wrapped up from an on-chain perspective". These three features have the most chances of making an appearance in the Sweat Wallet app in the coming weeks.
(1 SWEAT = 0.006061 USD)
