Sweat Economy
Crypto Overview
Understanding the Intended Utility
Sweat Economy is a move-to-earn cryptocurrency project that rewards users with SWEAT tokens for physical activity tracked through their smartphones. The project evolved from Sweatcoin, a successful fitness app with over 100 million users. Users earn tokens by walking, which can be used within the app's marketplace to purchase products, services, or exchanged on cryptocurrency platforms.
Business Model Analysis
The business model centers around incentivizing physical activity through tokenized rewards. The project generates revenue through marketplace operations, partnerships with brands, and premium subscriptions. This model aligns with Islamic principles as it promotes health and involves clear value exchange.
Actual Utility Assessment
The platform demonstrates significant real-world adoption, with millions of active users converting their steps into SWEAT tokens daily. The ecosystem includes a marketplace where tokens can be spent on real products and services. Development activity is ongoing, with regular updates to both the app and blockchain infrastructure.
Token Distribution and Founder Analysis
The token distribution includes allocations for the team (20%), treasury (30%), and user growth (50%). Team tokens are subject to a 4-year vesting period with a 12-month cliff, indicating commitment to long-term development. The founding team has a track record in the fitness technology sector, having successfully operated Sweatcoin since 2016.
Technical Implementation
SWEAT operates on the Near Protocol blockchain, chosen for its scalability and low transaction costs. The token serves as both a reward mechanism and medium of exchange within the ecosystem. The technical implementation includes mechanisms to prevent gaming the system and ensure fair token distribution based on actual physical activity.
Crypto Impact
To assign a comfort level investing in Sweat Economy from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sweat Economy.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.