sweat token

Recently, Sweat Economy ventured into quite a number of activities, including the partnership with Ref Finance and the NEAR platform. From yield farming extra rewards to the 2022 FIFA World Cup packages, the popular move-to-earn platform is surely one to look out for. However, Sweat Economy has released yet another update to cap up its recent amazing offers.

This time, the M2E platform announced that there are Amazon gift cards up for grabs by SWEAT token owners. But to be eligible, users must stake their SWEAT tokens in their SWEAT wallet. It is unsure how the process will be, but following instructions will give users better chances of earning rewards.

Also, the giveaway will be signifying the end of the SWEAT Staking Rewards program. So far, the program has been amazing, and it is expected to end on a good note. As of last week, the SWEAT token gained prominence in over 150 countries, taking the top spot in 51 countries.

6,000 Amazon Gift Cards Up for Grabs!!!

The fast-rising move-to-earn platform has revealed that its Staking Rewards program will be coming to an end tomorrow, September 27, 2022. According to the platform’s Medium post, the program is one of the most impactful liquidity farming ever seen.

While the program is geared towards giving users the best return on investment (ROI), Sweat Economy is saying, well, that’s not all.

The popular move to earn economy
The popular move-to-earn platform, Sweat Economy, has announced that it will host a giveaway on September 27, 2022. The event is expected to mark the end of the Staking Rewards program. Image Source: Sweat Economy

Unlike other rewards, the platform will be sharing 6,000 Amazon gift cards among its eligible members. Members who have downloaded the SWEAT wallet app and staked their SWEAT tokens are more likely to win big in tomorrow’s event. However, the giveaway is part of its plans to ensure that more participants are satisfied.

As the program draws to an end, it is believed that more users are likely to join the train. A major reason for this is the increasing popularity that the Sweat Economy has gained in the last couple of weeks. Currently, the platform has a user population of over 120 million.

Staking Rewards Program

In a bid to create more awareness about the anticipated SWEAT Economy, a digital version of the Sweatcoin ecosystem, the Staking Rewards program was initiated. This was after the platform organized a TGE in which about 24 billion SWEAT tokens were generated. The next logical step was to encourage staking.

Sweat Economy introduced its Staking Rewards program in collaboration with Ref Finance and NEAR protocol.
Sweat Economy introduced its Staking Rewards program in collaboration with Ref Finance and NEAR protocol. Through this development, participants can earn rewards while acting as liquidity providers. Image Source: Sweat Economy Medium

Staking allows users to earn profits on their assets while they lock them away in liquidity pools. In the same vein, SWEAT Economy ensured that users get rewarded appropriately per their contribution to the liquidity pool. This way, the platform gets more engagements, and the users get more rewards. It is a win-win.

Collaborating with DeFi platforms like Ref Finance, Sweat Economy was able to give back to its users. Notably, the platform shared rewards in the SWEAT-NEAR pool for two weeks. These rewards include 20K $REF, 5.2M $SWEAT, and 15K $NEAR. 

Similar Developments

In addition to its amazing projects, the platform added extra projects to its list. On September 19, 2022, Sweat Economy announced its 2022 FIFA World Cup reward program. The program promises to be a fully-packaged one in which users are eligible to win, provided that they have staked SWEAT tokens in their SWEAT wallet apps.

Sweat Economy offers users 400% APY when they stake their SWEAT tokens.
Sweat Economy offers users 400% APY when they stake their SWEAT tokens. This is massive compared to the initial promise of 12% APY. Image Source: Play to Earn Diary

Amazing prizes to be won in this package include an all-expense paid trip to Qatar to experience the World Cup, paid accommodation in a 5-star hotel, free match tickets, and flights sponsored by Qatar Airways.

Similarly, the Sweat Foundation has introduced a 50% profit for buying and burning SWEAT tokens. This is aimed at reducing the number of tokens in circulation, thereby increasing the worth of the SWEAT tokens.

Interestingly, the platform offered its pool members a 400% annual percentage yield (APY). The annual percentage yield of 400% is notably more than the initial 12% APY that the platform offered.

Furthermore, the Sweat Economy team is working on incorporating fiat currencies in the purchase of SWEAT tokens. This way, users will be able to purchase their preferred number of SWEAT through the banks. Even with these, there are still more upcoming projects to expect from the platform.

The Sweat Economy

Sweat Economy is one of today’s most popular move-to-earn Web3 platforms developed by the Sweatcoin app. Basically, the platform rewards users for being active. Whether you run, walk, jog, or hop, each step you take is converted into Sweatcoin.

However, with the introduction of Sweat Economy, users can now convert their Sweatcoins into SWEAT tokens. This allows them to earn legit cryptocurrency that can be enjoyed even outside the platform.

Any investment/financial opinions expressed by Play to Earn Diary are not recommendations. Our content is for educational purposes only. If you plan to invest in any game or cryptocurrency then please do your own research and only spend what you can afford to lose.

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