Sweat Economy is an ecosystem consisting of Sweatcoin, a popular Move-to-Earn game, and Sweat Wallet, driving an open economy of movement. Managed by the Sweat Foundation, the Sweat Economy and the Sweatcoin decentralized application (dApp) operate on NEAR Protocol.
The Sweatcoin app soared in popularity to become the most downloaded health and fitness app in 2022. The app uses SWEAT crypto as an incentive to encourage people to move, stay active, get fit, and improve their health.
As of October 2022, the Sweatcoin app boasts over 120 million registered users. Sweat Economy’s Sweat Wallet - the official wallet for the SWEAT token, has more than 13 million users who manage their SWEAT holdings, store them securely, and even earn attractive rewards through yield farming and staking.
SWEAT gets minted as users of the Sweatcoin app move more and earn more. However, the developers behind the project have introduced several mechanisms to control the inflationary supply of SWEAT and make it harder to mint new tokens, maintaining its circulating supply and supporting its value in the market.