Sweat Economy Introduces “Minting Pause” to Temporarily Halt $SWEAT Minting on Unengaged Accounts

Key Highlights

• Sweat Economy launches the “Minting Pause” feature to temporarily halt the minting of the SWEAT token on unengaged accounts.
• The Minting Pause feature will roll out gradually for some week, holding the potential for increased monetization and higher revenues. 

Sweat Economy, the popular brand behind the health and fitness app Sweatcoin and the top decentralized application (dApp) Sweat Wallet, has announced the launch of its innovative “Minting Pause” feature.

The Sweat Economy has been at the forefront of promoting healthier lifestyles by inspiring physical activity since its establishment in 2015. With its flagship app, , soaring to become the most downloaded health and fitness app globally in 2022, the company has successfully incentivized a massive user base of over 130 million individuals to stay active and earn valuable Sweatcoin. 

Sweat Economy Takes Proactive Measures to Halt Token Minting on Idle Accounts

According to an official announcement today, the debut of the new feature follows the company’s plan to temporarily halt the minting of its SWEAT token on unengaged accounts. Also, the company aims to foster consistent engagement among its 6 million users worldwide and ensure a more active and involved user base.

This groundbreaking update will mark the first time a move-to-earn project has taken steps to halt the minting of tokens for idle users. The introduction of the Minting Pause feature is a significant milestone for the Sweat Economy. It serves as a powerful motivator for users to remain physically active and engaged with the project, while also allowing the team to better manage the circulating supply of their native cryptocurrency, SWEAT tokens.

Thus, by temporarily stopping SWEAT token minting on unengaged accounts, Sweat Economy is ensuring a more involved user base and managing token supply more effectively. The introduction of the Minting Pause feature solidifies Sweat Economy’s position as an industry leader in the move-to-earn space. By pioneering this innovative approach, the company demonstrates its commitment to continuously improving user experiences and driving the convergence of health and wealth within its ecosystem.

Oleg Fomenko, co-founder of Sweat Economy, expressed his excitement about the feature’s launch, stating, “We’re more than excited to launch this feature which allows us to take further steps in motivating people to walk more and improve our tokenomics by reducing supply and increasing demand for SWEAT tokens.”

Sweat Economy Declares Gradual Roll out of Minting Pause

Notably, the rollout of the Minting Pause will occur gradually within the Sweat Wallet app over the next few weeks. Users who have not interacted with the app for a period of 60 days will experience an automatic pause in their ability to mint SWEAT tokens. These idle accounts will no longer earn tokens passively based on their physical activity. To reactivate the minting process, users will need to open the Sweat Wallet app, instantly resuming the token-minting mechanism.

It is important to note that the implementation of the Minting Pause feature will have several implications for both users and the project’s tokenomics. Firstly, it leverages the concept of “loss aversion” to enhance user engagement with the Sweat Wallet app. By reminding users of the tangible value of their movements, the feature encourages them to be more physically active.

Moreover, a more engaged audience within the Sweat Wallet app holds the potential for increased monetization and higher revenues. These additional funds can be utilized to purchase tokens on the open market, further enhancing the value and utility of the SWEAT token.

Additionally, the temporary suspension of SWEAT token minting for unengaged accounts will reduce token emissions, driving the project closer to its goal of achieving deflationary tokenomics. By curbing token supply, Sweat Economy aims to create a more sustainable and valuable ecosystem for its users.

As a community-centric Web3 project, Sweat Economy places great importance on transparency and user feedback. To ensure these aspects are upheld, the company has organized Discord community discussions before and after the feature launch. This approach allows for open dialogue, providing users with the opportunity to share their thoughts and suggestions.