Your movement holds the power to reshape the world. In an era defined by sedentary lifestyles and digital overload, the global economy is silently bleeding. 1.8 billion people worldwide are inactive—28% of adults and a staggering 81% of adolescents—driving an economic misalignment that costs the U.S. alone $67 billion annually in healthcare and lost productivity. Obesity, fueled by this inactivity, piles on an additional $173 billion annual burden, from medical expenses to increased sick days and disability claims. This isn’t only a health crisis—it’s an untapped opportunity.

"Movement Is All You Need", the title of this whitepaper, encapsulates a groundbreaking vision: the Movement Economy. Since 2014, Sweatcoin has laid the groundwork through the invention of Move2Earn, proving that physical activity can generate economic value. Now, we’re elevating that vision with $SWEAT, the world’s first tokenized asset class for physical movement.

The Movement Economy is already worth trillions of dollars across sectors such as healthcare, insurance, productivity, fitness, sportswear, and wearables. Yet, despite its vast value across these sectors, no one has successfully captured its full potential until now, with $SWEAT transforming movement into real, tangible economic value for millions worldwide.

$SWEAT is the key to unlocking this immense value. Through the Sweat Wallet, $SWEAT does more than reward steps. It empowers millions to own their effort, transforming movement into a tangible asset. Your steps become capital, your energy a stake in a new economic frontier. Already embraced by 20 million users, $SWEAT is unlocking the Movement Economy’s vast potential—a value that, until now, has remained uncaptured across industries poised for transformation.

This is a radical new economic paradigm shift.

We’re not here to simply encourage better habits. We are here to redefine the value of movement, empower individuals as economic agents, and create an entirely new global asset class, powered by human effort. Just as the Attention Economy capitalized on scarce human resources and became a $7 trillion industry, the Movement Economy is emerging as the next great economic frontier, powered by your movement.

This is about more than fitness; it’s about building a healthier, wealthier future where your movement is your equity. Live on NEAR, Ethereum, Base, Arbitrum and BNB Chain with Bitcoin, Solana, and TON integration on the horizon—$SWEAT is the key to a paradigm shift that redefines how we live, work, and thrive. Join us in this bold journey. Discover how the Movement Economy, powered by $SWEAT, turns your next step into a world of possibility.

$SWEAT is the heartbeat of this new world… the first currency forged by your effort, not handed out or mined by machines. Every step you take mints $SWEAT, transforming your movement into a digital asset that’s yours to wield. Proof of your power, a bridge between the sweat on your brow and the wealth in your hands.

What Makes $SWEAT Unstoppable:

• Sweat-Powered: Earned through action.

• For Everyone: All you need is a smartphone and a pulse, no gatekeepers.

• Real as It Gets: You feel its worth because you’ve worked for it.

• Dual Impact: Lives on the blockchain, thrives in the real world.

Unlike the Attention Economy, where your time is used for someone else’s profit, $SWEAT allows you to own and benefit from the value you create through your movement. Here, you create the value, you own the value. With 20 million holders ranking it among the Top 10 most-held tokens, $SWEAT is already a force. Spend it on rewards, trade it for gains, or vote with it in the DAO to steer this economy’s future.

As $SWEAT evolves from a simple movement reward into a fully functional economic instrument, used to access services, buy products, pay for transactions, trade for liquidity, and govern an ecosystem, it becomes the backbone of an entirely new economy. One where your movement becomes your financial momentum.

The Movement Economy isn’t only a distant idea. It’s a seismic shift in how value is created.

Imagine a world where every step you take not only drives your health but fuels a global economy, turning daily activity into real, financial opportunity. That’s what we’re building with $SWEAT. This is more than rewarding exercise, it’s redefining movement as wealth you can hold, accessible to anyone, anywhere.

We’re flipping the script on a global crisis: 1.8 billion people trapped in inactivity, draining economies with billions in losses. The Movement Economy takes a global challenge and transforms it into a multi-trillion-dollar opportunity, one step at a time. Your steps are your stake in a revolution. With 20 million people already stepping in, this isn’t a distant dream—it’s a living, breathing reality reshaping lives right now.

Movement Is All You Need

$SWEAT - Powering the Movement Economy

Whitepaper - 2025

Executive Summary

SWEAT is pioneering the Movement Economy—a new paradigm where physical activity generates real economic value that you can both own and use on products, services and exclusive offers. With over 20 million users and 3 million Monthly Active Users (MAU), Sweat Wallet is the world’s leading mobile Consumer Crypto platform, crafted with care to create a harmonious relationship between your movement and blockchain technology.

At the heart of this ecosystem is $SWEAT, the Currency of Movement—a digital asset that creates a harmonious balance between individual effort and collective value, turning human activity into something tangible. Unlike traditional tokens, $SWEAT is minted through verified physical activity, making it the first mass-market digital asset backed by human effort. It enables users to earn, access, spend, trade, and govern in a decentralized system, converting movement into financial opportunity.

Table of Content

The Movement Economy is no longer simply a concept—it’s a thriving, rapidly expanding ecosystem with unparalleled potential. Anchored by $SWEAT and the Sweat Wallet, this economy is redefining how physical activity creates real-world value, turning every step into a stake in a global financial frontier. As we explored in Chapter 4, $SWEAT’s tokenomics, utility, and community-driven governance make it a currency that grows with you.

Now, we’ll dive into the drivers behind the Movement Economy’s explosive growth, and why $SWEAT is just beginning its journey to market dominance. With seamless onboarding, global scalability, a robust ecosystem, diversified revenue streams, and a first-mover advantage, the Movement Economy is poised to become one of the most transformative economic narratives in Web3.

We’ve cracked the code. Your steps are now a measurable asset. For the first time ever, we have a proven way to measure and turn your movement into real value. This is the blueprint for a fairer economy where your effort pays off. Backed by data from top universities and over 100,000 users worldwide, this benchmark shapes every part of the Movement Economy.

Here’s how it powers $SWEAT:

• Rewards that match your value: Your steps earn $SWEAT based on what movement is truly worth.

• Community-driven decisions: The data guides DAO votes, so you shape the future.

• Fair deals for partners: Businesses and insurers get clear, data-backed incentives to join.

• Sustainable growth: It fuels staking and token models that keep the economy strong.

• Real-world impact: Governments and health systems can use it to reward movement.

This benchmark isn’t only for $SWEAT, it’s a roadmap for the world to join the Movement Economy. As more people and organizations adopt $SWEAT, we’re growing users and building a new standard for value.

Imagine a personal coach who gets you—whether it’s fitness goals or crypto wins. That’s what $SWEAT’s AI Agents bring to your wallet. Trained on over 700,000 real user queries, these AI Agents are intelligent companions that make Web3 feel like home:

• Move more: Get tailored health and activity tips.

• Learn fast: Master crypto with advice that clicks for you.

• Stay safe: AI flags risks before they hit.

• Discover rewards: Unlock features that match your style.

Built on NEAR’s cutting-edge AI infrastructure, these agents evolve with you, turning the Sweat Wallet into a hub for living, earning, and thriving. They do more than onboard you. They keep you hooked, making Web3 intuitive and empowering, no matter where you start.

Movement isn’t only about staying fit, it’s about fueling a better world. Picture this: your morning jog doesn’t just kickstart your day. It saves your city money, boosts your employer’s bottom line, and adds years to your life. That’s the Movement Economy in action. For too long, we’ve seen physical activity as a personal bonus, not a game-changer for society. But here’s the reality: when you move, everyone wins. Healthcare costs drop, businesses get sharper teams, and communities buzz with stronger, happier people.

Think about your daily walk. It’s a quiet strike against a system bleeding billions to inactivity. That weekend hike? It’s not only exercise, it’s a productivity boost you can feel at work. And for you, it’s beyond health, it’s about creating value with every step. The Movement Economy, powered by $SWEAT, turns this into reality. Your activity is transformed into wealth you can spend, trade, or grow.

Contrast this with the Attention Economy, where tech giants turned your screen time into their fortune while you got stuck scrolling. The Movement Economy flips that model on its head—your effort puts you in control. With $SWEAT it’s happening now, reshaping lives and economies one step at a time.

Unlike most Web3 projects that require technical know-how and upfront capital, the Movement Economy invites anyone to join, instantly. Download the Sweat Wallet, start walking, earn and engage.

With social logins, intuitive UX, and Web2-like simplicity, onboarding feels familiar, even as users start earning token-backed assets and engaging in decentralized features. No complicated wallets, no seed phrases, no friction—just movement and reward.

This is not only how SWEAT reached tens of millions of users, it’s why the model can scale to hundreds of millions more.

Information about the issuer

B.1 Issuer different from offeror or person seeking admission to trading: false

SWEAT’s momentum is driven by technology and user engagement, plus supported and uplifted by a world-class network of strategic partners. Each plays a critical role in building, scaling, and evolving the Movement Economy across infrastructure, intelligence, sports, and adoption. These partnerships extend SWEAT’s reach, deepen its utility, and position it as a leading force in global Consumer Crypto.

SWEAT is a founding partner of the Global Running League (GRL), also known as RunGP, a new era of high-profile running events set to launch on Formula 1 racetracks in 2025. RunGP, with four time Olympic gold medalist and running legend Mo Farah as its Ambassador, is a convergence of elite competition, mass participation, and blockchain rewards.

Runners earn $SWEAT based on performance. Fans engage and earn through real-time interaction. Leaderboards, live data, and gamified engagement connect sports with token incentives, turning RunGP into a showcase of what the Movement Economy looks like in action, at global scale.

With access to SWEAT’s user base and a broadcast-ready format, RunGP will bring the Movement Economy to millions more, fusing physical activity with digital value.

NEAR serves the foundational infrastructure of the Movement Economy. A high-performance engine that delivers the speed, scalability, and security SWEAT needs to serve tens of millions of users with seamless, low-cost transactions.

Through NEAR’s Chain Abstraction technology, pioneered in its consumer facing implementation by Sweat Wallet, $SWEAT now operates as a true multichain asset, usable across Ethereum, BNB Chain, Arbitrum, and Base from a single NEAR account. Users can pay gas fees and interact across blockchains without friction, complexity, or a sense of insecurity.

This positions $SWEAT as one of the most versatile, interoperable tokens in Web3, with Bitcoin, Solana, TON, TRON and more chain integrations on the horizon, that reach will only expand. NEAR’s infrastructure makes it all possible, delivering Web3 performance at Web2 speed and simplicity.

The Movement Economy was designed to transcend borders, languages, and cultures, ensuring that anyone, anywhere can participate. Through Chain Abstraction, $SWEAT operates seamlessly across NEAR, Ethereum, BNB Chain, Arbitrum, and Base, with plans to expand to Bitcoin, Solana, TON, and TRON in the near future. This multichain infrastructure makes $SWEAT a truly borderless asset, accessible to users regardless of their preferred blockchain.

Our localization strategies, regional rewards, and global sports partnerships, like RunGP powered by Global Running League further amplify our reach. Whether you’re a runner in Tokyo, a walker in Nairobi, or a hiker in the Alps, the Movement Economy meets you where you are, offering tailored experiences that resonate with your culture and lifestyle.

This global footprint positions $SWEAT as a universal currency for movement, ready to onboard the next billion users into Web3.

Before Sweat Wallet, there was Sweatcoin, the original movement validator founded in 2014 that introduced hundreds of millions of people to the value of their steps.

With over 200 million users worldwide, Sweatcoin remains the entry point to Sweat Wallet and the Movement Economy, turning casual daily movement into tangible $SWEAT earnings. Its movement validation technology is the backbone of $SWEAT’s minting system—ensuring every token is rooted in real, verified physical effort.

Sweatcoin is a constant funnel of new users into Web3, helping to bridge the gap between simple movement and advanced crypto utility. For many, Sweatcoin is their first taste of a decentralized future and the first step toward full participation in the Movement Economy through Sweat Wallet.

At the core of the Movement Economy lies a simple, universal truth: everyone moves. Movement is one of the most natural human behaviors: borderless, inclusive, and habitual, making it the ideal gateway into a new form of economic participation.

By converting movement into $SWEAT, the ecosystem turns effort into ownership. What used to be a personal health benefit now becomes an asset. One that users can spend, stake, govern, or trade. This shift is unlocking a powerful behavioral economy, where activity becomes currency, and participation becomes empowerment.

With over 20 million users already onboarded in Sweat Wallet, the Movement Economy is proving that this is not a niche, it’s a paradigm shift. As more people recognize the value of their movement, and as new use cases, features, and partners are added, the potential to onboard hundreds of millions more becomes inevitable.

A Shift from Extraction to Empowerment

Big Tech got rich off your eyes. Now it’s time your steps pay you. The Attention Economy turned your screen time into a $7 trillion empire, but left you with nothing. The Movement Economy flips that script: your movement is valuable, and you get to keep the rewards.

Here’s the difference:

Picture this: every step you take unlocks a smarter, safer, and more personal Web3 journey. That’s the power of $SWEAT’s partnership with NEAR Protocol, the beating heart of AI innovation in blockchain. NEAR’s co-founder, Illia Polosukhin, co-authored “Attention Is All You Need,” the paper that sparked the AI revolution behind tools like ChatGPT. This isn’t a random collaboration; it’s a match made to redefine Web3.

Together, NEAR and SWEAT are blending AI and blockchain to make Web3 feel effortless:

• Personalized onboarding: Start your journey with guidance that fits you.

• Smarter navigation: Explore Web3 with AI that adapts to your vibe.

The next wave of Web3 isn’t just multichain, it’s personal. $SWEAT’s AI Agents are set to become your go-to guides, think financial advisors, health buddies, and voting pals, all rolled into one. They’ll help you:

• Navigate chains effortlessly.

• Optimize your $SWEAT for max value.

• Manage health data with ease.

Information on the rights and obligations attached to the crypto-assets

G.1 Ownership: Controlled via user wallets

G.2 Access Rights: Enables product access, staking, raffles

G.3 Governance: 1-token holder–1-vote via DAO in-app

G.4 Liquidity: Traded on CEXs/DEXs globally

G.5–G.7 Termination, Redemption, Dividends: Not applicable

G.8 Buyback/Burn: DAO voted for token burn in the past, which were executed in line with community wishes.

Information about the offeror

A.1 Name: The Sweat Foundation Ltd

A.2 Legal form: Private Company Limited by Shares (BVI)

A.3 Registered address: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands, VG1110

A.4 Head office: Same as registered address

A.5 Registration Date: 2021-11-11

A.6 Legal entity identifier: Not available

SWEAT’s growth is powered by a diverse executive team covering core disciplines in product development, blockchain engineering, token economics, marketing, and business development. Together, they bring decades of experience from top-tier companies and projects across Web2 and Web3, combining executional excellence with bold long-term vision.

Key leadership roles include:

• Chief Finance Officer - Shaun Azam

• Chief Marketing Officer - Misha Lederman

The Movement Economy uses blockchain and tokenization to ensure that value flows directly to the people generating it.

It’s a model that:

• Empowers individuals, not platforms

• Incentivizes health, not addiction

• Rewards action, not distraction

• Builds ownership, not exploitation

Just like the Attention Economy unlocked trillions by monetizing a scarce resource, the Movement Economy will unlock new trillions through a model that’s fairer, healthier, and owned by the users themselves.

The Movement Economy is not simply a response to the Attention Economy, it’s an upgrade. One that puts individuals back at the center of the value chain.

And this time, you’re not the product anymore. You’re the owner.

$SWEAT powers a new economy where your movement unlocks real value. What makes $SWEAT a leader in Consumer Crypto is its straightforward, habit-driven value cycle, designed for everyday people, not just tech experts. Here’s how it works:

1. Move to join: Your steps draw you into a global movement.

2. $SWEAT rewards you: Earn tokens with real, tangible value.

3. Sweat Wallet empowers you: Your personal Web3 hub.

4. AI Agents guide you: Smart, tailored, personalized guidance for your journey.

5. Chain Abstraction connects you: Spend or trade anywhere, on any chain.

6. Utility keeps you engaged: Rewards, offers, and partnerships that stick.

This is Consumer Crypto at its best. Super personalized, seamless, and widely embraced. The True Heart of Consumer Crypto.

Strip away the buzzwords, $SWEAT delivers:

• Everyday value: Earn and use it, no advanced degree needed.

• Dead-simple design: Built for humans, not coders.

• Real ownership: Your effort, your reward.

• Tens of millions already in: A living and thriving economy, not a distant dream.

This isn’t about speculative bets, complicated DeFi tools, or financial tricks. It’s about real people, real movement, and real rewards. While others talk about bringing the next billion users to Web3, $SWEAT already has 20 million on board and we’re just getting started. As Web3 shifts from niche to mainstream, $SWEAT isn’t following the Consumer Crypto narrative. We’re driving it!

Web3 was built to empower users, but users were missing—until now. The blockchain world spent years perfecting its pipes, but forgot the people. That’s where $SWEAT steps in. With 20 million users, 3 million monthly actives, and 1.7 million monthly on-chain participants, $SWEAT is leading the Consumer Crypto shift.

This isn’t about hype or speculation. It’s about real people using blockchain to unlock value from their daily lives. You’re not just a user, you’re a pioneer in an era where your habits turn into wealth. While most projects scramble for thousands, $SWEAT has millions already on board, becoming Web3’s first truly mass-market consumer mobile product.

Your Community Voice Drives the Future

At the heart of the Movement Economy lies a simple yet transformative principle: those who move should shape the future. With $SWEAT, you’re gaining a voice in a decentralized ecosystem where your contributions matter.

The SWEAT DAO brings this principle to life as one of the most active mobile-native governance platforms in Web3, empowering you to co-create the Movement Economy alongside millions of others. Built on a one-person, one-vote model, the DAO ensures that power is distributed equally. Independent of token wealth, giving every user, from casual walkers to dedicated runners, an equal say in the ecosystem’s direction.

Last year, 355,000 users came together to vote on a key proposal to adjust minting rules, proving that this is a community in action. Through the SWEAT DAO, you can influence critical decisions, such as:

• Adjusting minting windows to balance rewards and scarcity.

• Approving strategic token burns to boost $SWEAT’s value.

• Shaping new feature rollouts, like gamified challenges in PlayHub.

• Recommending ecosystem upgrades and revenue allocation models to ensure fairness and growth.

This inclusive and transparent governance system makes you a co-architect of the Movement Economy, with the power to influence everything from tokenomics to product development to partnership strategies. As DAO participation grows, the scope of your control will expand to include:

• Partner integrations that bring new opportunities to the ecosystem.

• Staking yield structures to optimize rewards for users like you.

• Treasury allocation to fund initiatives that matter most to the community.

• Marketplace mechanics to enhance how you spend and trade $SWEAT.

This is what true decentralization looks like: not just smart contracts, but smart communities making smart decisions. The “Control” action of $SWEAT (Section 4.3) is a foundation, ensuring that your steps steer its future. As the Movement Economy scales to new heights (Chapter 5), your voice will play a pivotal role in shaping its growth, making $SWEAT a token that moves with your steps and evolves with your vision.

Quantifying the Economic Value of Movement

What’s an active day (10,000 steps) really worth? In 2024, the SWEAT Foundation partnered with top researchers across Europe to find out.

• University of Birmingham (UK)

• University of Cádiz (Spain)

• Caledonian University of Glasgow (UK)

• Blockchain Research Lab (Germany)

Their goal: put hard numbers on the power of movement. The findings? Mind-blowing. A single active day—like hitting 10,000 steps—creates between $0.52 and $6.25 per person in economic value. That’s like getting paid to stay healthy.

The 10,000-step benchmark is rooted in decades of scientific research linking an active day of 10,000 steps to measurable health benefits like reduced risk of heart disease, diabetes, and premature death. It’s become the gold standard for daily movement targets, used by many public health researchers worldwide.

Here’s the breakdown: governments could save up to $1.96 per person daily by slashing healthcare costs tied to sedentary lifestyles. Businesses? They’d pocket $4.38 per active employee through better focus and fewer sick days. And for you? Moving regularly could mean $2,280 a year in health benefits. These aren’t back-of-the-napkin estimates—they’re rigorous stats from heavyweights like the University of Birmingham, Caledonian University of Glasgow and the Blockchain Research Lab.

This is more than academic research, it’s the foundation of a new economy. $SWEAT takes these numbers and runs with them, rewarding you for the value you generate. Every step you take fights a global crisis costing trillions. That’s the Movement Economy—your activity, amplified into a force for change.

By bridging academic research with real-world application, the SWEAT Foundation is not only proving the economic power of movement, it is building the infrastructure to capture and distribute that value fairly.

This is the scientific foundation of the Movement Economy.

What began as a health movement is now emerging into a full-fledged economic engine. The Movement Economy spans staking, governance, marketplaces, rewards, partner integrations, and multichain interoperability. Every new feature compounds user engagement and expands $SWEAT’s role in everyday life.

The compounding effect is clear: as more users engage, more $SWEAT is minted, sunk, spent, and burned—deepening liquidity, reinforcing demand, and driving a sustainable value loop.

SWEAT is building the future of Consumer Crypto—step by step, milestone by milestone. From launching the world’s first movement-backed token to deploying AI Agents and pioneering multichain interoperability, the Movement Economy has moved from vision to execution at remarkable speed.

But the show has only just begun.

This roadmap outlines what’s already been achieved, and what’s coming next as we scale from millions to hundreds of millions of users, deepen $SWEAT utility, and unlock the full potential of movement as a global economic force.

Information about the operator of the trading platform

C.1 SWEAT is not issued by a trading platform. Trading takes place on third-party CEXs and DEXs.

Sweat Wallet’s multichain experience is powered by NEAR Intents, a decentralized request engine built on NEAR Protocol.

No more need to interact with DEX, bridges or wormholes. Instead of manually bridging or swapping tokens, users simply express a goal and NEAR Intents handles the execution, unlocking an entirely new layer of Web3 intelligence.

• Step 1: The user declares an intent (e.g., “Swap $50 worth of NEAR to ETH on Base”)

• Step 2: Decentralized solvers return a quote, sourcing the best path and pricing

• Step 3: The user confirms

• Step 4: The transaction executes across chains

It’s bridging and swapping, compressed into a single request to simplify and streamline the user experience.

Every transaction uses $SWEAT as gas, reinforcing its role as the transactional currency of the Movement Economy.

Information on the sustainability indicators of the consensus mechanism used

J.1 Consensus Mechanism: Proof-of-Stake (PoS – NEAR Protocol)

J.2 Energy Efficiency: High (minimal resource usage)

J.3 Carbon Offset: NEAR is carbon-neutral; SWEAT aligns with climate-positive movement

J.4 Environmental Goals: Incentivizing walking, fitness, health, and climate awareness

SWEAT’s AI Agents are powered by NEAR.AI. An innovation layer that brings personalized intelligence into the hands of every user. These agents, trained on over 700,000 real user queries, guide users through every interaction in Sweat Wallet, explaining features, spotting scams, and recommending actions in real time.

As user volume scales into the tens and hundreds of millions, NEAR.AI ensures that support remains personal, contextual, and human—even at machine speed. It turns each interaction into insight and action.

NEAR.AI is turning SWEAT’s digital economy into a smart economy. One where every user has a tailored experience, powered by decentralized intelligence.

In the Movement Economy, your steps aren’t just a path to better health, they’re the foundation of a new financial frontier. $SWEAT is the currency that powers this transformation, turning your physical effort into digital wealth. Building on the Sweat Wallet’s seamless integration (Chapter 3), this chapter unveils how $SWEAT is minted, distributed, and used, and why its design ensures lasting value as the ecosystem grows.

From earning tokens with every stride, spending them on partner goods and services, to shaping the future through community governance, $SWEAT puts you in control of a groundbreaking economic model. Let’s explore how.

Every $SWEAT token is born from your movement. A currency forged not by machines, but by your own human effort. Whether you’re walking to work or jogging in the park, Sweatcoin’s advanced technology verifies your steps, minting $SWEAT directly into your Sweat Wallet. It’s one of the only assets in the world where physical activity creates digital value, making every step a proof of effort.

Unlike Bitcoin or other cryptocurrencies with fixed supply caps, $SWEAT embraces an uncapped emission model. As long as people move and join the Movement Economy, new tokens can be created, reflecting the boundless and global nature of human energy, a resource accessible to anyone, anywhere. While an uncapped supply might seem counterintuitive in a world that often directly equates scarcity with value, $SWEAT’s design turns this model into a strength through a carefully engineered deflationary framework. We ensure scarcity and protect value over time through two primary mechanisms: more effort to mint over time and token burns.

By making $SWEAT progressively harder to earn and actively reducing supply through burns, we create a system where the value of your tokens grows as the ecosystem scales, balancing accessibility with long-term sustainability.

Here’s how it works: at launch in September 2022, it took just 1,000 steps to mint 1 $SWEAT. But earning $SWEAT gets harder over time, where each day the step requirement increases by 12 steps. By April 2025, approximately 943 days since launch, the step requirement has risen to around 7,600 steps for 1 $SWEAT. This linear difficulty increase creates predictable scarcity, ensuring that early adopters and consistent movers are rewarded most.

Meanwhile, token burns (detailed in Section 4.4) actively remove $SWEAT from circulation, further tightening supply as demand grows.

• Example: In September 2022, a quick 1,000-step walk earned you 1 $SWEAT. Today, in April 2025 you’d need 7,600 steps, equivalent to a 5-mile run, for the same token. A year from now, that could climb to over 11,000 steps, making each $SWEAT a powerful symbol of your commitment.

This approach mirrors the Movement Economy’s ethos: your effort drives value, and scarcity ensures that value endures. Unlike Bitcoin’s halving, which reduces mining rewards through computational limits, $SWEAT’s deflationary curve is tied to human effort—a more inclusive and sustainable approach that ensures accessibility while protecting long-term value.

From our initial genesis distribution at TGE, the goal has always been clear: empowering you, the community, to truly own your movement. At TGE on September 13, 2022, 28.1% of all claimed tokens were directly in community hands, with the remainder managed by the Sweat Foundation to support ongoing development, growth, and long-term sustainability.

Fast forward to Q2 2025, and the strength of our commitment to community empowerment is unmistakable. Today, a significant majority—73.3% of all claimed $SWEAT tokens—are held by the community, reflecting a remarkable shift toward decentralized ownership and genuine user control. This demonstrates not only the ongoing success of our original tokenomics strategy but also highlights a vibrant and engaged Movement Economy driven directly by its members.

Here's how the distribution of claimed tokens has evolved:

• At TGE (2022-09-13):

  • Community: 28.1%

  • Sweat Foundation: 71.9%

• As of Q2 2025:

  • Community: 73.3%

  • Sweat Foundation: 21.7%

  • Team and Investors: 5.0%

This powerful shift underscores the success of our initiatives aimed at incentivizing, rewarding, and expanding community participation. As the Movement Economy grows, the decentralization and broadening of token ownership continue, reinforcing our foundational principle that your steps and your activity genuinely belong to you.Through transparent token management, responsible vesting, and active community engagement, we are building not just a token but a robust, sustainable economy where your voice, your movement, and your ownership matter most.

Simplifying Consumer Crypto in the Movement Economy

The Movement Economy transforms physical activity into real economic value, and $SWEAT makes it accessible to everyone. With the use of AI Agents and Chain Abstraction, Web3 becomes simple, intuitive, and rewarding. These innovations create an effortless user experience, making Consumer Crypto more accessible to millions.

AI Agents: Your Personal Guide to Consumer Crypto

Sweat Wallet’s AI Agents act as personal assistants, simplifying Web3 interactions. These smart agents guide users through every step, from onboarding to transaction management, while directly linking physical movement to earning $SWEAT, the currency of the Movement Economy. They provide:

• Easy Onboarding: No technical knowledge needed to start earning crypto by moving.

• Crypto Education: Learn the basics of blockchain and digital assets without jargon.

• Simplified Security: AI-driven protection ensures a smooth, secure experience.

• Personalized Health Tips: Get movement advice tailored to your needs.

With these AI Agents, Web3 is no longer a complex system. Instead, it becomes an approachable, rewarding experience, helping users engage with consumer crypto while improving their health.

Chain Abstraction with NEAR Intents: Seamless Cross-Chain Interactions

Behind the scenes, NEAR Intents streamline cross-chain transactions and simplify the underlying blockchain technology. Users express simple goals, such as "Swap NEAR for ETH," and the AI Agent handles the execution seamlessly across different chains. Here's how it works:

1. Interaction: You make a request through the AI Agent, such as swapping tokens.

2. Intent Processing: The AI Agent translates the request into an Intent and sends it to NEAR’s smart contract.

3. Execution: Decentralized solvers find the best price and liquidity, and the transaction executes with $SWEAT covering any gas fees.

This process eliminates the need for users to manually bridge tokens or handle complicated blockchain steps. With NEAR Intents, $SWEAT users can effortlessly interact with Web3, making cross-chain transactions smooth and intuitive.

A Simplified Path to Consumer Crypto

By combining AI Agents and NEAR-powered chain abstraction, $SWEAT transforms the way users engage with Web3. It’s not only a financial system—it’s a lifestyle tool that ties everyday actions to consumer crypto, making it accessible to anyone, anywhere. The Movement Economy becomes a gateway for users to enter Web3 and start earning, spending, and governing their digital assets without technical hurdles.

$SWEAT’s tokenomics are rooted in a simple yet powerful idea: the value you create through your movement belongs to you. That’s why, from the very beginning, we designed $SWEAT’s initial distribution to prioritize you—the community, ensuring that the majority of tokens are in the hands of those who power the Movement Economy. Our genesis allocation strikes a careful balance between empowering users, rewarding contributors, supporting growth, and ensuring long-term sustainability, all while fostering a decentralized ecosystem where your voice matters.

Here’s how the initial supply breaks down:

• Lockdrop – 25.0% The single largest community allocation went straight to you, the early steppers. The Lockdrop rewarded users for minting sweatcoins in the years leading to TGE, laying the groundwork for a truly community-powered economy.

• Foundation Treasury – 27.71% Managed by the Sweat Foundation, this reserve fuels future development, global expansion, strategic partnerships, and initiatives like buyback & burn programs (see Section 4.4). It’s the engine room of innovation.

• SweatCo Ltd – 22.0% Allocated to the company that built our Movement Validator, Sweatcoin.

• Team & Advisors – 10.92% Set aside for the builders and visionaries who brought the project to life. These tokens are locked and vested over multiple years, ensuring long-term alignment with the community.

• Ecosystem – 7.02% Designed to support app integrations, rewards, and ecosystem partnerships that amplify the utility of $SWEAT.

• Private Round – 3.33% Provided to early backers who believed in the mission and helped bootstrap the ecosystem’s early growth.

• Seed Round – 2.68% Allocated to initial investors supporting the foundational build phase.

• Public Sale – 1.33% Breaking the DAOMaker record at the time, $1M of $SWEAT sold out within 15 minutes of public sale.

NEAR: Scalable, Sustainable, and Built for AI-Powered Consumer Crypto

The Sweat Wallet runs on NEAR, a blockchain that’s as fast as your steps. NEAR Protocol is the perfect engine for a global app like Sweat Wallet, delivering speed, affordability, and a user-first vibe that matches $SWEAT’s mission. It’s also the hub of AI innovation in Web3, making it the ideal backbone for our AI-driven future.

Why NEAR Builds for Consumer Crypto?

What sets SWEAT apart is not limited to the scale of its users, it’s how we bring them in.

While most Web3 projects rely on speculative hype, airdrops, or complex DeFi mechanics, SWEAT uses something more universal, human, and inclusive: movement.

Movement is:

• Borderless – Anyone, anywhere can join.

• Intuitive – No tech know-how needed.

Movement and attention share three key qualities:

1. They are valuable to you—Both movement and attention hold intrinsic value to you personally, contributing to your well-being and daily life.

2. They are valuable to third parties and can be monetized—Sports brands, employers, and insurers benefit from and can monetize your movement, while Big Tech and advertisers profit from your attention.

3. They are scarce—There is a limited amount of both movement and attention you can give each day, making them valuable and finite resources.

The Perceived Value of Movement

To complement institutional research, the SWEAT Foundation also activated the SWEAT DAO community, conducting one of the largest surveys of its kind. Over 100,000 users across 114 countries were asked a fundamental question:

“What is an active day worth to you?”

Their answers ranged from $0.52 to $9.50 per day. From bustling cities like Tokyo to small towns in Canada, the message was clear: movement matters. Being more than “just another survey”, it was proof that you’ve always felt the worth of your steps, demonstrating a universal human recognition of movement’s inherent value.

01 Date of notification

2025-08-20

02 Statement in accordance with Article 6(3)

$SWEAT is designed to build and sustain lasting value. As mentioned in Section 4.1, the uncapped supply is carefully managed to create a deflationary model through more effort to mint over time and token burns. These mechanisms work alongside additional strategies to ensure $SWEAT becomes scarcer and more valuable as the Movement Economy scales:

1. Rising Minting Difficulty: The daily 12-step increase—from 1,000 steps at launch to 7,600 steps today—slows the creation of new tokens, making each $SWEAT harder to earn over time.

2. Foundation Buybacks: 50% of the SWEAT Foundation’s profits will be used to buy $SWEAT from the market and burn it, permanently reducing supply.

Information about the crypto-assets

F.1 Crypto-asset Name: SWEAT

F.2 Symbol: SWEAT

F.3 Token Type: Utility Token

F.4 Blockchain: NEAR Protocol (native); bridged to Ethereum, BSC, Polygon, Arbitrum, and more

F.5 Contract Address: token.sweat (native to NEAR Protocol - https://nearblocks.io/address/token.sweat)

F.6 Fungibility: true

$SWEAT is a utility-driven asset designed for real economic activity, reward integrity, economic inclusiveness, and behavioral engagement. At its heart, $SWEAT’s utility is defined by five key Actions: Earn, Access, Spend, Trade, and Control.

These actions transform $SWEAT into a currency that powers your daily life, unlocks exclusive opportunities, and gives you a voice in a decentralized future. Seamlessly integrated with the Sweat Wallet (Chapter 3), these five Actions of $SWEAT ensure that every step you take becomes a gateway to a thriving ecosystem.

• Earn: Mint $SWEAT with your steps—your movement becomes your asset. Every stride is a proof-of-effort, verified by fraud proof validation, tying value creation to your physical activity rather than capital.

Multichain is no longer a future goal, it’s now a lived experience.

This rollout is our vision for multichain, which we call 1:1:1, a unified model where your entire crypto journey is streamlined through:

• 1 Wallet: A single interface Sweat Wallet to manage your digital assets across chains.

• 1 Key: One NEAR-based key pair that unlocks access to multiple blockchain networks.

Information on the underlying technology

H.1 Blockchain: NEAR Protocol (L1), bridged to EVM-compatible chains

H.2 Smart Contracts: Issuance and rewards executed on-chain using RUST programming language

H.3 Security: Near account structure which decouples keys from user address making it future-proof, support for social logins, seed phrases with support for cold-storage wallets to be implemented soon. Smart contracts are audited and there is an ongoing bounty program on Immunifi.

H.4 Transaction Speed: ~1 second finality (NEAR)

H.5 Compatibility: EVM-compatible via Wormhole Bridge

As the Movement Economy scales beyond tens of millions of users, the SWEAT Foundation is committed to sustainability and innovation. Yet, growth brings challenges we’re proactively addressing to protect users and ensure $SWEAT’s long-term success.

Regulatory Landscape

Evolving global crypto regulations may impact tokenomics or compliance. We’re prepared:

• Global Compliance Taskforce: Engages with regulators in the EU, US, and Asia, aligning with frameworks like MiCA.

• September 2022: $SWEAT launch and world’s largest crypto airdrop, onboarding millions into Web3 through physical movement.

• Sweat Wallet Launch: First-of-its-kind mobile crypto app integrated with real-world movement rewards.

• Token Utility Expansion: Introduction of staking (Growth Jars), in-app rewards, DAO voting, marketplace integration, and real-world spend options.

In a world where trust matters, Sweatcoin proves every step counts. With over 200 million users, Sweatcoin is the backbone of the Movement Economy, verifying real movement to mint $SWEAT fairly. Using patented technology, machine learning and billions of data points, it separates legit activity from fakes, ensuring:

• Real rewards: Only your true steps earn $SWEAT.

• Stable economy: Anti-inflation keeps value solid.

The Movement Economy is built on more than token activity, it generates real, scalable revenue across multiple pillars:

• Commercial Partnerships Global brands sponsor in-app commerce and rewards. In 2024 alone, users completed over 750,000 lessons through partner campaigns, driving meaningful engagement and conversion.

• Advertising Channels The Sweat Wallet’s ad network connects brands with one of the world’s largest health-focused audiences. In 2024, users watched over 40 million rewarded video ads, creating consistent and growing ad revenue.

• Blockchain Fee Collection $SWEAT operates across chains, capturing fees from swaps, staking, and wallet interactions. As of Q1 2025, hundreds of millions of on-chain transactions have contributed to protocol-level revenue—fueling $SWEAT’s cross-network utility.

• Blockchain Foundation Partnerships The Sweat Wallet has onboarded tens of millions of verified on-chain users in collaboration with top blockchain foundations—bringing unmatched scale and real human activity to Web3.

Each of these streams flows back into the ecosystem: powering product expansion, funding Foundation-led buybacks and burns (see Section 4.4), and reinforcing the utility of $SWEAT.

The Movement Economy represents a groundbreaking shift, transforming physical activity into a valuable economic asset. At the heart of this ecosystem lies $SWEAT, a currency that drives a healthier, wealthier future for individuals, businesses, and society as a whole.

The SWEAT Foundation has already built a strong base, boasting impressive achievements:

• 20 million Sweat Wallet users, showcasing massive adoption.

• Strategic partnerships with NEAR Protocol and the Global Running League’s RunGP, amplifying its reach.

• AI Agents enhancing user engagement and experience.

• Chain Abstraction, positioning $SWEAT as a multichain leader in consumer crypto.

Yet, these milestones are just the starting point. With a bold vision to scale to one billion users, the SWEAT ecosystem is poised for exponential growth.

Looking ahead, exciting developments are on the horizon:

• The Global Running League partnership launching in 2025.

• Expansion into new blockchains and broader movement validation for activities like cycling and swimming.

• A commitment to innovation and community governance, powered by a decentralized network of hundreds of thousands of DAO voters.

This is more than an ecosystem. It’s a movement with unstoppable momentum. And you’re invited to be part of it. Take the first step:

• Download the Sweat Wallet app and start earning $SWEAT with every move.

• Join the DAO to help shape the future of the Movement Economy.

The Movement Economy is here, and it’s rewriting the rules. Step in, take charge, and join the transformation today.

Information about the crypto-asset project

D.1 Crypto-asset project name: Sweat

D.2 Crypto-assets name: SWEAT

D.3 Abbreviation: SWEAT

D.4 Crypto-asset project description: Sweat captures the value of users’ physical movement into a proof-of-movement utility token ($SWEAT) using movement verification algorithms and offers utility of being able to access exclusive raffles, offers, services, staking rewards linked to the level of user’s physical activity, governance as well as ability to cover any blockchain fees on any supported blockchain making $SWEAT into the universal gas token and allowing users to “pay their fees with their feet”.

D.5 Details of persons involved: Oleg Fomenko, Co-Founder & CEO

D.6 Utility Token Classification: true

D.7 Key Features of Goods/Services: Universal gas token, access to raffles, offers, services, trading, bridging, swapping and DAO governance.

D.8 Plans for the token: Expand support for all the major blockchains (Bitcoin, Solana, Sui, Avalanche, Polygon, TON, etc. and enabling ability of $SWEAT to be universal gas token on those chains, add premium subscription service, launch fiat off-ramp (SweatPay), enable advanced AI multichain services, add support for Ledger and WalletConnect, expand the list of movement oracles enabling conversion of other types of physical activity (e.g. cycling, swimming, HIT, etc.) into $SWEAT, create of a data union giving token holders right to monetize their data.

D.9 Resource Allocation: Foundation treasury ~27.7% of token supply reserved for future development

D.10 Planned Use of Collected Funds or Crypto-Assets: Product and ecosystem development, marketing, partnerships, operations

Information about the offer to the public of crypto-assets or their admission to trading

E.1 Public Offering or Admission to trading: ATTR

E.2 Reasons for Public Offer or Admission to trading: To provide utility and liquidity for token holders in the Sweat ecosystem.

E.3 Fundraising Target: Not applicable

E.4 Minimum Subscription Goals: Not applicable

E.5 Maximum Subscription Goal: Not applicable

E.6 Oversubscription Acceptance: false

E.7 Oversubscription Allocation: Not applicable

E.8 Issue Price: Determined by market conditions at launch

E.9 Currency for Issue Price: USDT

E.10 Subscription fee: 0

E.11 Offer Price Determination Method: Market-based pricing

E.12 Total Number of Offered/Traded Crypto-assets: 21,000,000,000 (initial supply)

E.13 Targeted Holders: ALL

E.14 Holder restrictions: None beyond compliance with applicable local regulations

E.15 Reimbursement Notice: Purchasers may be reimbursed if the offer fails or is canceled

E.16 Refund Mechanism: Not applicable (market-traded)

E.17 Refund Timeline: Not applicable

E.18 Offer Phases: Completed (token generation and initial sale in 2022)

E.19 Early Purchase Discount: DAO Maker participants received discounted allocations

E.20 Time-limited offer: false

E.21 Subscription Start: Not applicable

E.22 Subscription End: Not applicable

E.23 Safeguarding Arrangements: Sweat Wallet is a non-custodial onchain mobile wallet that uses NEAR blockchain security and account architecture with smart contracts being subject to security audits as well as ongoing bounty program using Immunifi service.

E.24 Payment Methods: Crypto only (e.g. USDT) via CEX/DEX

E.25 Value Transfer for Reimbursement: Not applicable

E.26 Right of Withdrawal: Not applicable for secondary market tokens

E.27 Transfer Method: Via blockchain transaction to the user’s wallet

E.28 Transfer Time: Immediate (on-chain confirmation)

E.29 Technical Requirements: Compatible wallet (Sweat Wallet, NEAR wallet, MetaMask)

E.30 CASP Name: KuCoin, Bitfinex, OKX, etc.

E.31 CASP Identifier: Not available

E.32 Placement Form: NTAV

E.33 Trading Platforms: KuCoin, Bitfinex, OKX, Uniswap, others

E.34 Market Identifier Codes: Not available

E.35 Access Conditions: Public, via exchange accounts

E.36 Involved Costs: Standard trading fees (platform-dependent)

E.37 Offer Expenses: Covered by treasury at launch

E.38 Conflicts of Interest: None declared

E.39 Applicable Law: BVI (issuer); Ireland (MiCA home Member State)

E.40 Competent Court: British Virgin Islands and/or EU competent courts

The Sweat Wallet is built on four pillars that make Web3 effortless.

Here’s how it works for you:

1. Invisible Web3: Tech That Simply Works

No need to be a blockchain expert. The Sweat Wallet handles the heavy lifting with:

• Cross-Chain Magic: Use $SWEAT on NEAR, Ethereum, BNB Chain, and more—Bitcoin, Solana, TON, and TRON are next.

• Safe and Simple: Secure self-custody that grows with you, teaching you as you go.

• Real-Time Rewards: Your steps turn into $SWEAT instantly, no delays.

• Smooth Scaling: On-chain and off-chain storage keeps things fast, no matter how big we grow.

You don’t need to understand the tech to feel its benefits—it’s like Wi-Fi; you just connect and go.

2. Features That Fuel Your Journey

The Sweat Wallet is an active engine for your Movement Economy experience:

• Grow Jars: Stake $SWEAT to earn more—4.8 million users are already growing their stash.

• PlayHub: Dive into games, challenges, and partner offers to earn extra $SWEAT while having fun.

• Rewards Marketplace: Swap $SWEAT for gift cards, discounts, or prize draws.

• Trade & Swap: Buy, sell, or swap $SWEAT with other cryptos, all in-app—no external exchanges needed.

These tools turn your steps into action, connection, and rewards.

3. Built to Scale Globally

The Sweat Wallet is already massive with 20 million users, 3 million monthly actives, and 1.7 million on-chain users. But we’re just warming up. It’s designed to handle 100 million users and beyond, with a modular setup that lets us add new features seamlessly. Whether you’re the 1st or the 1 billionth user, it’s always fast, always smooth.

4. Security You Can Trust

We know trust is everything. That’s why the Sweat Wallet is locked down with:

• Top-Tier Encryption: Your data stays safe, always.

• Regular Audits: Smart contracts and systems are tested to the max.

• User-First Control: Full wallet ownership rolls out gradually, keeping things easy while giving you power.

In December 2023, our , one of the most trusted names in blockchain security. The result? A stellar 9.2/10 score, with 10/10 for security.

Security isn’t an afterthought, it’s the foundation of everything we do.

The Movement Economy was built on a decade of innovation.

Sweatcoin created the Move2Earn category in 2014, introducing the world to the idea that physical activity could generate digital value. Now, the SWEAT Foundation is pioneering and trailblazing the creation of the Movement Economy, a broader, more transformative vision that turns movement into a global economic force.

While other projects chased short-term hype with NFTs or pay-to-play models, we’ve been building a foundation rooted in accessibility, utility, and trust, one that’s now years ahead of the competition. To understand why $SWEAT is not only leading but defining the future of consumer crypto, let’s compare it to other movement-based crypto projects.

This comparison reveals a clear divide: while competitors struggle with trust, accessibility, and sustainability, $SWEAT thrives by building on our pioneering legacy. From creating Move2Earn in 2014 to trailblazing the Movement Economy today, we’ve consistently put users first. With 20 million users in the ecosystem, robust infrastructure, and real-world partnerships, $SWEAT’s first-mover advantage is compounded by the community’s role in shaping its future through the DAO.

While others are still theorizing, we’re scaling—adding new chains, partners, and use cases that solidify $SWEAT’s position as the go-to token for movement-backed value. The Movement Economy is a living, growing system, and $SWEAT is just getting started on its path to global dominance.

• Multichain Expansion: Integration of Bitcoin, Solana, TON, TRON, and more blockchain protocols, cementing $SWEAT as a truly interoperable consumer token.

• SWEAT Wallet Off-Ramps: Launch of fiat off-ramp and spending tools (SweatPay), enabling everyday use of $SWEAT for goods, services, and subscriptions.

• Marketplace Evolution: New partner categories, expanded product offerings, and token-gated premium access across wellness, insurance, nutrition, and travel.

• Advanced Staking Mechanics: Evolution of Growth Jars into movement based staking models with dynamic yields, reward boosts, and time-based incentives.

• DAO Governance Expansion: Deeper community control over treasury allocation, partner onboarding, product features, and protocol updates.

• AI Agent Enhancements: Personalized financial coaching, movement optimization, goal-based user journeys, and multichain transaction routing.

• Data Monetization Tools: Secure frameworks for opt-in user health data sharing and monetization through trusted partners or Data Unions.

• RunGP Activation: Launch of RunGP events on Formula 1 circuits—bringing $SWEAT rewards and fan engagement to a global sports audience.

• Alternate Movement Validators: Expansion beyond steps to reward diverse activities like heart rate, cycling, swimming, yoga, strength training and more.

• Mass Onboarding Campaigns: Regional expansion, influencer activations, and gamified referral systems to accelerate user acquisition and token adoption among crypto natives and crypto curious alike.

Multichain Expansion Roadmap:

SWEAT has already proven it can deliver. The next chapter is about scale, depth, and expansion. Movement is universal. $SWEAT is the infrastructure that gives it value. And the Movement Economy is the next trillion-dollar frontier.

Oleg Fomenko — Co-Founder & CEO A serial entrepreneur with a track record of scaling consumer products to global adoption. Oleg has spearheaded the transformation of the Sweatcoin concept into a full-fledged Web3 ecosystem. His leadership has been instrumental in building the Sweat Wallet user base to over 20 million, driving partner integrations, and guiding the operational scale-up of $SWEAT across new markets and platforms.

Anton Derlyatka — Co-Founder A seasoned operator with deep experience in consumer tech, scalability as well as global business leadership and strategy. As the co-founder and CEO of Sweatcoin, the app has grown to over 200 million users under Anton’s leadership, laying the foundation for the creation of the Movement Economy and the birth of Sweat Wallet.

Egor Khmelev — Co-Founder & CTO A product and technology visionary, Egor has been the architect of both Sweatcoin and Sweat Wallet’s technical foundations from the start. As the engineering lead behind Sweatcoin’s core movement validation technology and the CTO driving Sweat Wallet’s blockchain infrastructure, Egor ensures the platform remains fast, scalable, secure, and future-ready. His expertise bridges Web2 user experience with Web3 performance—bringing SWEAT’s mission to life through robust, scalable technology.

Information on risks

I.1 Offer-Related Risks

The offer of SWEAT involves risks linked to its availability and market perception.

Step into a world where your movement unlocks real value. The Sweat Wallet is more than just an app. It’s your access point to the Movement Economy, where every move you make turns into something valuable. Think of it as a one-stop hub that turns your steps into $SWEAT, letting you earn, spend, trade, and even shape the future, all from your phone. More than a wallet; it’s a game-changer that blends fitness, finance, and freedom into one seamless experience.

Built for simplicity and scale, the Sweat Wallet makes Web3 feel as easy as your favorite legacy app. The backend hums with cutting-edge blockchain tech, but the front end? It’s clean, intuitive, and mobile-first. You’ll engage with Web3 without even noticing the complexity. Whether you’re new to crypto or a seasoned pro, the Sweat Wallet empowers you to turn every move into tangible economic power.