Health and fitness app Sweat Economy votes on “reallocation” of 2.5 billion abandoned tokens

Fitness-focused decentralized application Sweat Economy is set to conduct a governance vote on what to do with 2.5 billion tokens currently lying dormant in user accounts.

The SWEAT tokens, which account for around 13% of the total supply, were allocated to users when the app was conceived last September, but these users have neither downloaded the wallet nor followed any of the other steps required to claim them, which they “abandoned.” ‘ or ‘leave’ makes ‘idle’, says one blog post.

Sweat users can vote to receive the tokens back and have them transferred to the protocol treasury for possible future distribution. The vote will also decide what the Sweat Foundation will do with them going forward, including “burning a percentage, funding operational expenses, or supporting future product launches,” the blog post reads.

At least 75,000 votes are required to accept or reject the proposal. Voting will last seven days, with the possibility of a three-day extension, and will follow the “one person, one vote” format introduced in a previous poll in April.

Sweat Economy is a “Move to Earn” platform where users are encouraged to stay active by converting the steps they take into SWEAT tokens that they can convert into other cryptos or use to buy products.