$SWT
$SWT is the governance token of CYCLUM/SWEATEMPLE
Supply
$SWT is the governance token of CYCLUM/SWEATEMPLE and it has a limited supply with a total amount of 2,000,000,000. SWEATEMPLE will release other sport/fitness temples in the future; all temples will share the same governance token: $SWT.
Allocation and Distribution
A total amount of 2,000,000,000 governance tokens will be minted. 40% of total $SWT will be distributed to riders, sweaters, and creators through sweat-to-earn and motivate-to-earn events, meanwhile, the minting efficiency of those follow a well-calibrated log-normal distributed function with growth and halving period to make CYCLUM/SWEATEMPLE sustainable. 20% of the total supply goes to the team behind the project which will vest in five years. 17% of the total $SWT is allocated to the ecosystem fund to ensure the longevity of the CYCLUM/SWEATEMPLE project. For more about the governance token distribution and schedule, please find the information below.
Earning Mechanism
$SWT earning mechanism will be released when:
The total number of calories burned by the whole community from $BEAT earning eligible rides hit 10M
Twitter followers hit 100K
At least 3 months after the public beta phase on mainnet
Burning Mechanism
Some limited edition co-branded and artist-collab NFTs including bikes and avatars can only be purchased with $SWT. Meanwhile, certain Bike Aura's minting and upgrading may also require $SWT. More in-game tactical burning mechanisms will be released when all of the following are met:
The total number of calories burned by the whole community from $BEAT earning eligible rides hit 20M
Twitter followers hit 200K
At least 3 months after the public beta phase on mainnet
Last updated
