Sweatcoin is a Sports-to-Earn health & fitness app which rewards users for their daily steps with a currency called Sweatcoin that they can spend on products sold by cooperating merchants, donate to charity or convert into $SWEAT.
The team behind Sweatcoin is planning to leverage on the app to build up a Sweat Economy ecosystem that incorporates DeFi, NFT, and decentralized governance to bring additional value to users. Comparing with the old Sweatcoin app where the steps walked by users are verified by Sweatcoin alone, the new Sweat Economy will build up a decentralized network of “movement validators", which can be activity trackers, fitness equipment makers, fitness app developers and other third parties, who can stake $SWEAT to start validating the steps.\
According to the team, $SWEAT will be an ERC-20 and NEP-141 (NEAR) token.
