TechFlow News — Sweat Economy, the developer of the Move-to-Earn project Sweatcoin, announced that the Sweat Foundation has committed to using 50% of its profits to purchase SWEAT tokens from the secondary market. These acquired tokens will either be burned or distributed as staking rewards, aiming to reduce the circulating supply and enhance token utility. The Sweat Foundation primarily generates revenue through user participation and transaction fees.
As previously reported, in July this year, Sweat Economy, the developer of the health and fitness app Sweatcoin, raised $13 million in funding led by Spartan Capital, with participation from Electric Capital, OKX Blockdream Ventures, Goodwater Capital, and GSR Capital.Original link
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