SWEAT
SWEAT

Sweat Economy price

$0.0048560
-$0.00021
(-4.24%)
Price change for the last 24 hours
USDUSD
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Sweat Economy market info

Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price.
Market cap = Circulating supply × Last price
Circulating supply
Total amount of a coin that is publicly available on the market.
Market cap ranking
A coin's ranking in terms of market cap value.
All-time high
Highest price a coin has reached in its trading history.
All-time low
Lowest price a coin has reached in its trading history.
Market cap
$37.19M
Circulating supply
7,648,963,511 SWEAT
36.05% of
21,217,595,749 SWEAT
Market cap ranking
228
Audits
CertiK
Last audit: --
24h high
$0.0051920
24h low
$0.0048300
All-time high
$0.093400
-94.81% (-$0.08854)
Last updated: Sep 14, 2022
All-time low
$0.0042291
+14.82% (+$0.00062690)
Last updated: Jun 16, 2023

Sweat Economy price performance in USD

The current price of Sweat Economy is $0.0048560. Over the last 24 hours, Sweat Economy has decreased by -4.24%. It currently has a circulating supply of 7,648,963,511 SWEAT and a maximum supply of 21,217,595,749 SWEAT, giving it a fully diluted market cap of $37.19M. At present, the Sweat Economy coin holds the 228 position in market cap rankings. The Sweat Economy/USD price is updated in real-time.
Today
-$0.00021
-4.24%
7 days
-$0.00029
-5.66%
30 days
-$0.00158
-24.61%
3 months
-$0.00190
-28.12%

About Sweat Economy (SWEAT)

  • Official website
  • White Paper
  • Block explorer
    • About third-party websites
    About third-party websites
    By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.

Blockchain has a wide range of use cases, and the development of Sweat Economy (SWEAT) crypto token and ecosystem proves this to be true. So far, Sweat Economy’s landmark Sweatcoin app has gathered millions of users from across various countries. 

What is Sweat Economy?

Sweat Economy, formerly known as Sweat Coin, has undergone a rebranding to align with its vision and remarkable growth. The project's native token, SWEAT, derives its name from its core objective and mission. Sweat Economy aims to combat carbon footprint on a global scale and incentivize users who share this common goal. 

The Sweat Economy team

The Sweat Economy team comprises accomplished professionals who bring diverse expertise to the project. Co-founder Leg Fomenko, hailing from Russia, has a wealth of experience working at renowned companies such as Coca-Cola and Visa. Another co-founder, Anton Derlyatka, holds an MBA from the London Business School and has further enhanced his knowledge through Executive Programs at Stanford Business School and UC Berkeley. 

Egor Khmelev, also a co-founder, is the CTO of Sweat Economy. With a background in development and a degree in Computer Science from the University of London, Khmelev has led successful tech startups in Moscow before joining Sweat Economy. Henry Child, the CCO of Sweat Economy, started his career in traditional finance, working at a hedge fund, before transitioning into the tech and crypto industry. He has held positions at crypto companies Bitfinex and Tether and has also worked at Deliveroo HQ.

How does Sweat Economy work?

Sweat Economy operates within the Web3 paradigm, with its flagship application, Sweatcoin, being launched in 2016 and later integrated into the Web3 ecosystem. The app incentivizes users to engage in physical fitness activities by rewarding them with points for each step they take or jog they complete. 

After a few years of app development, the Sweat Economy team collectively decided to introduce the conversion of in-app rewards into their native cryptocurrency. This integration with Web3 technology contributed to an increased user base, with Sweat Economy experiencing its highest volume of users in 2022.

SWEAT tokenomics

The SWEAT token currently has a circulating supply of 4,808,026,671 tokens out of a total supply of 22,527,508,507 tokens.

SWEAT use cases

SWEAT serves as a reward for users of the Sweat Economy app, incentivizing physical activity and providing crypto rewards. The current value of SWEAT determines the value of the reward. 

Additionally, as an Ethereum-based token, SWEAT can be used for staking and is supported by staking protocols like OKX Earn. Furthermore, SWEAT functions as a governance token, granting holders the ability to make decisions that benefit the ecosystem.

How is SWEAT different from STEPN?

SWEAT and STEPN (GMT) were launched in 2022, but Sweat Economy has been active since 2016, building its ecosystem off-chain before transitioning to an on-chain model. While SWEAT focuses on incentivizing physical activity and reducing carbon footprint, STEPN is a prominent move-to-earn project in the crypto industry.

The future of Sweat Economy

Sweat Economy has exciting plans for the future, including the launch of a Web3 game that will complement its expanding ecosystem. The game will undergo thorough beta testing before being released on the mainnet. Users can compete and earn SWEAT tokens by completing tasks with both real and virtual step competitions. In-game non-fungible tokens (NFTs) will enhance the virtual step competition, adding another layer of engagement and rewards for participants.

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Sweat Economy FAQ

What is Sweatcoin?

Sweatcoin is a fitness application that incentivizes users to engage in physical activity. The app rewards participants with Sweatcoins for every 1000 steps they take. These Sweatcoins can be utilized to purchase various goods, services, and experiences in the in-app marketplace. 

By combining exercise and rewards, Sweatcoin motivates users to lead an active lifestyle while allowing them to redeem their rewards.

What is Move-to-Earn (M2E)?

Move-to-Earn (M2E) is a concept embraced by the Sweat Economy, which encourages individuals to stay active by offering incentives for achieving specific real-world milestones.

M2E applications have gained significant traction in the fitness industry and are projected to maintain popularity. This model motivates users to engage in physical activities by providing tangible rewards, fostering a healthier and more active lifestyle.

Where can I buy SWEAT?

Easily buy SWEAT tokens on the OKX cryptocurrency platform. One available trading pairs in the OKX spot trading terminal is SWEAT/USDT. 

You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), for SWEAT with zero fees and no price slippage by using OKX Convert.

How much is 1 Sweat Economy worth today?
Currently, one Sweat Economy is worth $0.0048560. For answers and insight into Sweat Economy's price action, you're in the right place. Explore the latest Sweat Economy charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Sweat Economy, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Sweat Economy have been created as well.
Will the price of Sweat Economy go up today?
Check out our Sweat Economy price prediction page to forecast future prices and determine your price targets.

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ESG Disclosure

ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Sweat Economy
Consensus Mechanism
The Ethereum network uses a Proof-of-Stake Consensus Mechanism to validate new transactions on the blockchain. Core Components 1. Validators: Validators are responsible for proposing and validating new blocks. To become a validator, a user must deposit (stake) 32 ETH into a smart contract. This stake acts as collateral and can be slashed if the validator behaves dishonestly. 2. Beacon Chain: The Beacon Chain is the backbone of Ethereum 2.0. It coordinates the network of validators and manages the consensus protocol. It is responsible for creating new blocks, organizing validators into committees, and implementing the finality of blocks. Consensus Process 1. Block Proposal: Validators are chosen randomly to propose new blocks. This selection is based on a weighted random function (WRF), where the weight is determined by the amount of ETH staked. 2. Attestation: Validators not proposing a block participate in attestation. They attest to the validity of the proposed block by voting for it. Attestations are then aggregated to form a single proof of the block’s validity. 3. Committees: Validators are organized into committees to streamline the validation process. Each committee is responsible for validating blocks within a specific shard or the Beacon Chain itself. This ensures decentralization and security, as a smaller group of validators can quickly reach consensus. 4. Finality: Ethereum 2.0 uses a mechanism called Casper FFG (Friendly Finality Gadget) to achieve finality. Finality means that a block and its transactions are considered irreversible and confirmed. Validators vote on the finality of blocks, and once a supermajority is reached, the block is finalized. 5. Incentives and Penalties: Validators earn rewards for participating in the network, including proposing blocks and attesting to their validity. Conversely, validators can be penalized (slashed) for malicious behavior, such as double-signing or being offline for extended periods. This ensures honest participation and network security.
Incentive Mechanisms and Applicable Fees
Ethereum, particularly after transitioning to Ethereum 2.0 (Eth2), employs a Proof-of-Stake (PoS) consensus mechanism to secure its network. The incentives for validators and the fee structures play crucial roles in maintaining the security and efficiency of the blockchain. Incentive Mechanisms 1. Staking Rewards: Validator Rewards: Validators are essential to the PoS mechanism. They are responsible for proposing and validating new blocks. To participate, they must stake a minimum of 32 ETH. In return, they earn rewards for their contributions, which are paid out in ETH. These rewards are a combination of newly minted ETH and transaction fees from the blocks they validate. Reward Rate: The reward rate for validators is dynamic and depends on the total amount of ETH staked in the network. The more ETH staked, the lower the individual reward rate, and vice versa. This is designed to balance the network's security and the incentive to participate. 2. Transaction Fees: Base Fee: After the implementation of Ethereum Improvement Proposal (EIP) 1559, the transaction fee model changed to include a base fee that is burned (i.e., removed from circulation). This base fee adjusts dynamically based on network demand, aiming to stabilize transaction fees and reduce volatility. Priority Fee (Tip): Users can also include a priority fee (tip) to incentivize validators to include their transactions more quickly. This fee goes directly to the validators, providing them with an additional incentive to process transactions efficiently. 3. Penalties for Malicious Behavior: Slashing: Validators face penalties (slashing) if they engage in malicious behavior, such as double-signing or validating incorrect information. Slashing results in the loss of a portion of their staked ETH, discouraging bad actors and ensuring that validators act in the network's best interest. Inactivity Penalties: Validators also face penalties for prolonged inactivity. This ensures that validators remain active and engaged in maintaining the network's security and operation. Fees Applicable on the Ethereum Blockchain 1. Gas Fees: Calculation: Gas fees are calculated based on the computational complexity of transactions and smart contract executions. Each operation on the Ethereum Virtual Machine (EVM) has an associated gas cost. Dynamic Adjustment: The base fee introduced by EIP-1559 dynamically adjusts according to network congestion. When demand for block space is high, the base fee increases, and when demand is low, it decreases. 2. Smart Contract Fees: Deployment and Interaction: Deploying a smart contract on Ethereum involves paying gas fees proportional to the contract's complexity and size. Interacting with deployed smart contracts (e.g., executing functions, transferring tokens) also incurs gas fees. Optimizations: Developers are incentivized to optimize their smart contracts to minimize gas usage, making transactions more cost-effective for users. 3. Asset Transfer Fees: Token Transfers: Transferring ERC-20 or other token standards involves gas fees. These fees vary based on the token's contract implementation and the current network demand.
Beginning of the period to which the disclosure relates
2024-03-28
End of the period to which the disclosure relates
2025-03-28
Energy report
Energy consumption
232.41688 (kWh/a)
Energy consumption sources and methodologies
The energy consumption of this asset is aggregated across multiple components: To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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