- During TGE week, the term ‘Sweat’ trended on Twitter, search on CoinGecko and CoinMarketCap.
- Sweat Wallet swiftly rose to the top of the Finance app charts in 51 countries.
Sweat Economy, the “economy of movement,” effectively launched on NEAR last week with the largest-ever airdrop to active, opted-in wallets. The Move-to-Earn platform, which has been active on web2 since 2016 and has over 120 million global Sweatcoin app users, released their new web3 SWEAT token to 13.5 million token holders. Sweat Wallet swiftly rose to the top of the Finance app charts in 51 countries. This comes on the heels of SWEAT’s accomplishment as the fastest IDO to sell out on the DAO Maker platform.
Expansion of the SWEAT Token
To Onboard easily they introduce the Sweat Wallets and people who is not aware of this also can use it easily for token staking, NFT games and other elements after the launch over 2 million people has downloaded and activated it and it is listed as second most popular dApp across all chains since its launch.
A user sale of about $1M of SWEAT finished in 15 minutes, making it the fastest IDO ever to sell out on the DAO Maker platform. During TGE week, the term ‘Sweat’ trended on Twitter, search on CoinGecko and CoinMarketCap. Sweat Economy is a crypto unicorn with a current FDV of more than $1 billion after week one.
In a rare move for a token, the Sweat Foundation and Sweatco stated shortly prior to the TGE that they were burning 4.76 Bn of their own SWEAT allocation to provide more value to customers. On Friday, they committed to use 50% of their profits to acquire SWEAT from the secondary market for buy and burn or to distribute as staking wages.
Over the first seven days, the SWEAT token had nearly half a billion dollars in trading activity across exchanges FTX, OKX, ByBit, Bitfinex, Kucoin, Gate.io, Huobi, and Uniswap.