GymRewards – The Blockchain That Allows You Mine with your Body
GYM rewards is a mobile based application that rewards the users for doing exercise by observing their heart rate which will fill in as the proof of exercise (POE). For each moment of your action, you will procure a specific measure of GYMs.
GYM rewards developed a new type of blockchain. The POE (prove of work exercising). So while you are doing your workout you will be mining coins. The more you exercise, the more you earn. Now, you can make extra money on the GYM. There will be no middleman, just you and your exercise mining APP (GYM REWARDS APP). After you won by doing your exercise, you can trade your coins at your gym, if they are affiliated with GYM REWARDS or you can exchange for other cryptocurrencies.
Why GYM Rewards is worth it:
- A new Proof of Work Blockchain inspired by Ethereum with near to zero fees and free contracts creation.
- A Mobile and iWatch app that allows people to mine the blockchain while exercising.
- Key Partnerships with leading gymnasiums and sporting events. These partnerships includes gymnasiums at the current time, but they also target insurance companies to negotiate the terms for them accepting GYM Tokens as payments or discounts.
- A Cryptocurrency exchange to trade GYM Tokens between ETH and BTC. This is a key component for the GYM Rewards ecosystem. The GYM Rewards Cryptocurrency Exchange will be ready at the same time the ICO Ends in May 15th.
- A great community that is growing very fast. The GYM Rewards Telegram Group has one of the largest communities in Telegram. Telegram has turned into an essential component of ICO success.
It is fair to say that GYM Rewards is making sure that they cover all its bases before launching their products. GYM Rewards is expected release it’s products this coming summer.
How Proof of Excercise will Work (POE)
POE is a contract based reward system that will get activated by locating the nearby Participating GYM in geolocation coordinates contract and using heartbeats via the GYM rewards mobile app to deliver block rewards once the time of required has been met.
Reasons you should invest in GYM Rewards?
Distribution of 73% of their tokens to GYM App Mining.
This means that the token circulation depends on the user of the GYM App Mining. And as we know, exercise has become the part of life. So there will be a lot of people use this GYM App Mining. So the price of the token will go high after the token sale starts to end.
For example, if you are running for 10 minutes, you may get 0.1666667 GYMs per minute whereas you will get 10 GYMs if you do the running for an hour. The GYM coins will be added to your wallet automatically To put it simply, More exercise, more GYM coins. GYM rewards apps will be available for both Android and iOS platforms.
The 5% of the total token sale will be researched for the long-term development plan. The 5% will be assigned to the core team of the GYM rewords application. 4% of the total token sale will be used for the AirDrop and Bounties. The 3% token sale amount will be used for the legal advisor who will be taking care of the legal issues and partnership with the local industries. The 10% will be offered in the ICO for online users to purchase directly from the website. The remaining 73% will be available for mining. The users who are using the GYM rewords application and mind as many tokens by doing regular exercise and earn the rewards. The token distribution has been kept simple and beneficial for all the parties. Most emphasis is given on the mining to make the application genuine and highly rewarding for the users.
GYM is an ERC20 standard token built on Ethereum blockchain. GYM Tokens power the payments, rewards and cashback system on cryptofitnessclub. No payment can be conducted without GYM Tokens, its main goal is to stimulate tokenholders to use Cryptofitnessclub and to attract new users to Cryptofitnessclub.
For the token sale, the investor might have a chance to get to get 10% of their Tokens.
You can buy 1 GYM Token for 0.0001 ETH or $0.0858, and the maximum amount of token that investor can purchase or have is only 150.000.000 Token which is equal to 15.000 ETH or $128.700.000.
5% Long Term Reserve
5% Core Team
4% Airdrop and Bounties
3% Advisors and Partnerships
10% Token Sale*
73% for GYM App Mining
Max Cap: 2,000,000,000
Start: March 2018
Hard cap: 15,000 ETH
Soft cap: 100 ETH
Exchange rate: 1 GYM= 0.0001 ETH
Project protocol: ERC20
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.