![]() The SWEAT max supply does not have a cap. Sweatcoin has received backing from numerous investors, including Jump Capital, Spartan Group, OKX Blockdream Ventures and others. The project also sold tokens through a private sale and seed round, both of which were only accessible to a closed group of investors. As more SWEAT coins enter circulation and the SWEAT coin price stabilizes, it will be interesting to see if this valuation will be justified in the open market. If we multiply the SWEAT price at the public token sale with the initial supply of Sweatcoin (21 billion tokens), we can see that public sale participants were investing into SWEAT at an implied Sweatcoin market cap of around $149 million. Since the project raised $2 million through the token sale, we can estimate that the average Sweatcoin price during the token sale was $0.0071. More than 40,000 users participated in the Sweatcoin token sale on DAO Maker.Ī total of 280 million SWEAT tokens were sold through the public sale. There was a public SHO (Strong Holder Offering), and a DAO SHO, which was only accessible to stakers of DAO Maker’s native token DAO. The team raised a total $2 million by selling 1.33% of the SWEAT supply through two token sales. The team behind Sweatcoin held a public token sale on September 5 through the DAO Maker platform. Shortly after the SWEAT token generation event (TGE), the token was listed on several leading cryptocurrency exchanges, including FTX, OKX and Bybit. For example, the wallet will allow users to exchange their SWEAT tokens into other crypto assets, earn yield through Sweatcoin staking, provide liquidity, and more. The project also aims to launch a Sweat Wallet app, where users will be able to access a variety of decentralized finance (DeFi) services. In the future, however, users will have the option to opt into a data monetization program where they will be able to earn rewards in exchange for sharing their data with third parties. The Sweatcoin project says that they will never sell the data generated by the app’s users. The current estimate is that 1,000 steps will yield 0.33 SWEAT 1 year after the token generation event. However, each subsequent SWEAT coin takes slightly more steps to create, which will slow down the process of new SWEAT coins entering circulation. Initially, users can earn one SWEAT coin for every 1,000 steps they make. Initially, SweatCo Ltd is the only active movement validator, but the project claims that multiple third parties will be integrated to decentralize the validation process. The Sweatcoin crypto implements “Movement Validators”, which verify that the movement recorded by users of the Sweatcoin app is legitimate and not spoofed. ![]() The project raised funds through a DAO Maker public sale, as well as a private sale and seed round.After the token generation event (TGE), sweatcoin holders could claim SWEAT tokens at a 1:1 ratio.Before the launch of the SWEAT token, users could earn “sweatcoins” by installing the Sweatcoin app and moving.As time progresses, a greater number of steps is required to mint 1 SWEAT. ![]()
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