altcoin gem

Imagine this. Most trending concept + 100 million existing users But something can’t be new if 100 million people are using it, right? But in this case yes. The app is not new, but the token and your chance to invest in the project it is now. It could be a huge potential opportunity. 

What Altcoin Gem are we talking about? How can you participate in it? Is it too early or too late to get in? You will discover it in this article.

What is the Sweat Economy?

Sweat Economy and its $SWEAT coin are the newest things in the Stepn fame Move-to-Earn sector. The sweat Economy came under my radar a couple of months back when I was looking out for potential gems in some of the trending sectors.  

So, I was surprised that the project is way older than StepN. In fact, Sweat Economy is the oldest M2E project from way back in 2015. With Sweat, you can earn 1 SWEAT token for every 1000 steps you take and track on the Sweatcoin app. But as I said earlier, it’s actually NOT new.

The Sweatcoin app has over 100 million users worldwide and 1.5 million reviews combined in the Apple and Google Play stores. And this is really working in favor of Sweat. Take a look at this: One week since $SWEAT token launch, the Sweat Wallet is the most used DApp in Web3 on dAppradar.

So, in contrast to many projects that market and issue tokens hoping to find their community, Sweat built its community first and now is issuing the tokens to them. It’s already the most downloaded health and fitness app. This is a big plus and a possible reason for its recent 1000% price jump on its token generation event on Sep 13th.Smart strategy. The $SWEAT coin is on the Near Protocol making it a fast PoS-based blockchain app.

More About Sweat Economy

So how do they increase the difficulty to make getting SWEAT tokens more difficult? And the tokens themselves are more scarce to keep them from flooding the market?

Sweat does it by steps. Right now, you earn 1 SWEAT token for every 1000 steps you take and track on the app. Soon, sometime within the next year, as the community continues to grow, that difficulty will increase by 2.6x and someone will have to go 2605 steps to earn 1 SWEAT token.

This is how they are trying to tackle the common problem in Move to Earn of high inflation of tokens. So if you are with me so far, what you do is:

  • Download the app from the App Store or Google Play.
  • Start moving and track your progress.
  • Collect $SWEAT tokens.
The Team

The team has a ton of fitness experience including fitness tech and big brand experience in the C Suite too. The leadership is right there front and center on their website and we always like to see that.

Then, combine that with over 600 partners already. Yes, 600. They just raised $13 million in a private sale in July.


Electric Capital, Jump, and the Near Foundation itself are among the crypto native investors that invested in this round for Sweat.

Sweat vs Stepn

Thanks to its popularity, the biggest name right now in Move to Earn is Stepn. So let’s compare and see how Sweat does against it.

1) Stepn has:

  • A requirement to buy an NFT sneaker to get started
  • 2 tokens GST and GMT
  • An app
  • A 6 billion token maximum on GMT
  • Mystery boxes and gem sockets you can buy with GST
  • 4.72 million registered users

2) Sweat has:

  • No requirements to get started, just download the app
  • Only 1 token you need for utility or investment, $SWEAT
  • Also has an app
  • No maximum supply for $SWEAT
  • Ability to bid or buy products in the marketplace with $SWEAT
  • Over 100 million users

It’s pretty clear which app is more user-friendly, ready to go, and popular with the public. It’s Sweat Economy.

Sweat Economy Tokenomics

While SWEAT has been giving its tokens to users for some time, they only just had their TGE. Their token generation event. It took place about a week ago, but as you can see they’ve only unlocked 10% of the tokens so far. There’s a vesting schedule of 24 months for all the rest. They launched on DAOMaker since they are transforming their Foundation into a community-owned DAO called SweatDAO.

And while we are talking about the token, let’s dive into tokenomics. Their litepaper says there is an uncapped supply although their charts expect it in the range of 35 billion 3.5 years from today:

  • 10.92% goes to the Team.
  • The SWEAT token is available both on Near and as an ERC-20 token and users who have accumulated Sweatcoin from the app before the TGE can swap them 1:1.
  • Despite the unlimited supply, there is a burn program in place. They’ve already burned 18% of their supply or 4.7 billion tokens.

Note: As mentioned before, it will get increasingly more difficult to mint new SWEAT via steps, and next year they expect every 1000 steps to mint only 0.33 SWEAT instead of the 1 SWEAT it does now.

The token is available on 8 exchanges now including Kucoin,, Bybit, FTX, and Nexo.

The Sweat Wallet

The transition from Web 2 to Web 3, or from Sweatcoin on the app to the new $SWEAT token happens because of the Sweat Wallet. So, one of the big reducers of risk investing in a project right after its TGE is the fact that the community is already so huge. More than 13 million people have downloaded the Sweat Wallet already. It’s the #1 fitness app in 58 countries so far.

So while the cryptocurrency aspect of it is newer, the project itself is well established. And from the wallet, you can stake the $SWEAT token and earn 12% if you lock for a year, 6% if you lock for 6 months, and 3% if you lock for 3 months.

This might be a good ‘forced HOLD’ strategy if you like the project. Just lock your coins up for a little and earn some extra tokens. Also, NFTs and games are coming soon so the wallet will be even more versatile and valuable as the app expands its offerings.

What can you use the SWEAT tokens for?

The token utility, aside from staking, allows you to:

  • Bid for items under auction, most of which are less than $500 and fitness related.
  • Buy vouchers as physical products in the marketplace. Auctions have taken place every other day since October 2020. That’s more than 370 so far.
  • Take part in the charitable ‘Sweatcoin For Good’ program. Here you can donate to a charity and depending on your status, SWEAT may match your donations.
  • Depending on your status and number of coins, you can also be eligible for special deals and discounts on the auctions or in the marketplace.
  • You can even start yield farming it on Ref Finance.

So, despite the project token’s newness, there is quite a lot of activity going on surrounding the Sweat Economy and its $SWEAT token.

Sign up with Binance using our Affiliate Link and get the following benefits:
  • Get a $100 instant bonus with a first-time deposit of $50 within 7 days,
  • Earn 20% trading fee discount for life!
  • Get $200 worth of 2 months of Altcoin Buzz Access PRO Membership (50+ Trading Signals, Hidden Gems) and unlock up to $500 more in prizes

Also, click on the following link (as per your location) to avail the benefits. Binance Global
Binance US
For further details visit*: Binance Sign Up Offer Page. *Terms & Conditions Apply.
Disclosure: Altcoin Buzz may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.