CAX token’s ICO is live. Sweatcoin is very trending 

 

ChainAnex launched its high-ranked native token CAX recently. This platform offers Defi users an ecosystem that supports multiple chains. As a result, it ensures massive participation and smart contract support. The team believes that one of the significant drawbacks of blockchain technology and cryptos is the restriction of communication between blockchains. Thus, means of cross-blockchain communication are essential for promoting global adoption.

The CAX token’s ICO sale will end on June 30, 2022. Its price is 0.1 USD per coin for now. However, the token’s value will increase after the initial coin offering ends. The total supply of CAX is 50000000. The platform will accept USDT and BUSD in exchange for its native tokens.

ChainAnex offers cross-chain trading, farming, swapping, and more in one place. Its application will allow traders to swap CAX and other EVM tokens across different blockchains. That will reduce needless switches between different platforms.

Moreover, the company will provide improved end-to-end cryptographic data encryption, ensuring better security for its customers. The team is constantly working on new security measures. It aims to guarantee the best safe and up-to-date environment for the platform users.

 

What about ChainAnex’s features? 

Thanks to ChainAnex, users will be able to swap CAX and other EVM compatible tokens not only on one platform but across multiple chains like Ethereum, Binance Smart Chain, Polygon, and other EVM chains. They will easily transfer already existing tokens between networks, provided there’s enough cross-chain liquidity to support the process.

In addition, traders can easily add new tokens on the ChainAnex platform if they aren’t tied to any specific chain yet. The project’s teams or users will hold at least 0.01% of the total supply of that EVM Token through the platform’s minting secure algorithm. Liquidity Providers (LPs) on the ChainAnex will also support the platform’s cross-chain mechanism and benefit from annual rewards of over 35% in fee shares.

ChainAnex also plans to enable users to trade coins built on different chains fast and with cheaper fees. For example, traders will be able to easily swap SHIB (BEP-20) for USDT (ERC-20). They will complete the trade within seconds. Meanwhile, CAX token holders will have the opportunity to invest their tokens through the company’s stake/farming mechanism and, as a result, receive attractive rewards in CAX and other stipulated tokens.

 

What is Sweatcoin, and why is it becoming so popular? 

Sweatcoin is a free app that rewards users for simply walking. For a specific amount of their daily steps, people will get a new-generation currency. And they will be able to spend it on cool products, donate to charity or convert it into SWEAT tokens.

The Sweatcoin team believes that when people look after their health, they benefit society. After all, healthy individuals are more productive. They also help to save $billions in healthcare. The movement has value, and people deserve a share in it. That’s why the team decided to develop Sweatcoin and further incentivize people to get moving.

The platform already boasts 76M+ users. And they are walking 20% more after downloading the Sweatcoin app. Moreover, the company has 600 partners. In Q1 of 2022 alone, they provided $70M worth of goods and services in exchange for steps. But the company isn’t going to stop there. It has great ambitions.

While the mission remains the same (to reward movement and inspire a healthier, wealthier planet), tokenization changes everything. What was centralized becomes permissionless, and what was regional becomes global. Sweatcoin has a chance to change the lives of people from not one or several countries but from the whole world.  

The team boasts of creating an entirely new way for users to earn, along with an entirely new mechanism of value creation. On this platform, everyone has an equal right to earn from and contribute to the new economy.

However, while SWEAT significantly increases physical activity, the company doesn’t claim that it “causes” a healthier world. After all, the relationship between physical activity and health is one of correlation, not causation. Still, people are more likely to improve their health in other areas when they become more physically active.

 

What about the SWEAT tokens? 

Initially, the company had made SWEAT available to eligible users who downloaded the Sweatcoin App. In early Q1 2022, Sweatcoin already boasted 65M users; and by early May 2022, it reached 76M. The number of users is rapidly growing, and the team expects that to continue; Especially considering that it has just initiated its global expansion plan, increasing the countries in which the Sweatcoin app is available from 75 to 160.

Moreover, the Sweat Foundation plans to make an offer for every user to opt-in to claim 1 SWEAT token for every Sweatcoin in their wallet without burning their Sweatcoins. In Q3 2022, the foundation will mint enough SWEAT to match the Sweatcoins of customers who have opted-in.

All of these seem promising, but the team knows that usership alone does not guarantee a successful product. So, it hasn’t only created an app people love but also create sustainable ways to monetize user movement and engagement.

Besides, Sweat Economy shares the principles of Sweatcoin but leverages NFTs, DeFi, and decentralized governance to unlock new value, which is later returned to the user. The platform ensures that users will only mint SWEAT by verified movement. That means a stable number of users increases minting steps (input). An increase in customers increases the input. Furthermore, a change in user habits, such as all users walking more because of intention and rewards, will make the input rise exponentially.

 

How does it work? 

According to the team, each SWEAT token will require more steps to mint than the last. The company wants to achieve its vision of making the world more physically active. To that end, SWEAT will be harder to mint with time. This will incentivize users to get moving now because their movement generates more tokens today than tomorrow. And additionally, it preserves the utility of SWEAT, as such model represents an ever-increasing marginal cost of production. Overall, this company has very strong potential, and it will likely continue gaining in the future.