Sweat Economy introduces ‘Minting Pause’ to boost token value and engagement.
Sweat Economy, the company responsible for the popular health and fitness app Sweatcoin, has announced the launch of a new feature called “Minting Pause.” This feature aims to reduce the amount of SWEAT tokens being generated by users who are not actively engaged with the app.
The new feature will be implemented in the coming weeks and is designed to encourage users to be more physically active and committed to the project. Users who have not opened the app for at least 60 days will have the generation of free tokens paused.
The Minting Pause Will Have an Impact on Sweat Economy’s Tokenomics
Sweat Economy stated that the Minting Pause “will use loss aversion to strengthen user engagement, reminding them that their movement has tangible value,” which will encourage users to be more physically active.
By increasing the number of committed users, Sweat Economy hopes to achieve higher monetization and generate more revenue to purchase additional tokens on the open market.
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Oleg Fomenko, co-founder of Sweat Economy, said:
“We’re thrilled to launch this feature as it allows us to further motivate people to walk more and improve our tokenomics by reducing supply and increasing demand for SWEAT tokens.”
The temporary 60-day minting pause has caused a lot of controversy on Sweat Economy’s social media platforms. The project managers have indicated that the 60-day window may be reduced in the future, but they did not provide further information on this matter.
Sweat Economy: The App that Pays You for Staying Active
Sweat Economy is a community-centric Web3 project that promotes a healthy lifestyle by encouraging people to move more.
By using their Sweatcoin app, users can earn SWAT tokens by engaging in physical activities. These tokens can be redeemed for products, digital services, or donated to charitable organizations.
To obtain SWAT tokens, users simply need to download the Sweat Wallet app and start engaging in physical activities such as walking or running.