Road Town, British Virgin Islands, October 1st, 2026, Chainwire
This announcement contains inside information within the meaning of Article 87 of Regulation (EU) 2023/1114 (MiCA). Issuer: The Sweat Foundation Ltd, company no. 2081818, British Virgin Islands. Person making the notification: Nikolay Vznuzdaev, Director. Subject: the end of Sweat Wallet and the SWEAT Token in their Present Form on 30 December 2026.
Date and time of publication: 1 October 2026, 15:00 London time (16:00 CEST).
The Sweat Foundation Ltd (the “Foundation”) announces that Sweat Wallet and SWEAT in their present form will end on 30 December 2026. Until then the app keeps working and users keep earning. The Foundation is announcing this 90 days ahead so that every user and token holder has time to act. Details and FAQs are at https://update.swe.at
About This Announcement
Sweat Wallet and SWEAT brought more than 22 million people into Web3 through their daily steps. The economics of the current model have not held: a prolonged downturn in crypto markets, the loss of exchange listings for SWEAT, the cost of the security incident of April 2026, after which all user balances were restored, and slowing growth in new users. The team came close to sustainable profitability but did not get there. It was decided to end the current model in an orderly way, with 90 days’ notice rather than the 14 days the Foundation’s terms allow.
This announcement concerns only the Foundation’s products, Sweat Wallet and the SWEAT token. Sweatcoin is a health and wellness app operated by a separate company, Sweatco Ltd, which confirmed to the Foundation that Sweatcoin will continue to operate as normal.
An Important Update
Until 30 December 2026 the app, the token and the smart contracts keep running as today, and users keep earning for as long as movement verification data is supplied by Sweatcoin. The minimum term on Grow Jars is removed no later than 15 October 2026.
After 30 December 2026 the app and the services around it end in their present form. The SWEAT token continues to exist on NEAR and on the EVM chains where it is bridged. When the Foundation closes the claim and Grow Jar contracts, after 30 December 2026, any unclaimed SWEAT and any Grow Jar balance, with yield calculated as of 30 December 2026, is sent to the NEAR account that owns it. The Foundation will publish in the first week of December 2026 what happens after 30 December 2026, and when.
Steps to Take Before 30 December 2026
Back up the private key and NEAR account ID from the app. Claim earned SWEAT. Withdraw from Grow Jars when preferred. Move any balances on Ethereum, Base, BSC, or Arbitrum to another wallet under your control, or bridge them to your own NEAR account while the app is running. The Foundation recommends completing these steps by 18 December 2026. Each step is explained at https://update.swe.at
The Foundation will never ask for a private key or seed phrase and will never contact users first by direct message.
Statements
> Oleg Fomenko, CEO of The Sweat Foundation: “I am proud of what SWEAT achieved. Rewarding verified movement got millions of people to move more, and it brought millions of them into Web3 for the first time. That we did not reach sustainable profitability is a real disappointment to me. We are telling the community now, in full and with 90 days, because that is what our users and token holders deserve. I thank everyone who has been part of this over the last four years.”
> Anton Derlyatka, CEO of Sweatco Ltd (Operator of Sweatcoin): “We thank The Sweat Foundation for the partnership that gave Sweatcoin users the chance to earn SWEAT since 2022. We’ll continue pointing our users to the Foundation’s guidance on next steps through the transition. Sweatcoin continues to help our users build healthy habits and we look forward to sharing a few new health-focused strategic partnerships in Q4.”
Notes to Editors
The Foundation has today notified a modified crypto-asset white paper for SWEAT to the Central Bank of Ireland under Article 12 of Regulation (EU) 2023/1114 (MiCA); the modified white paper will be published at whitepaper.swe.at/mica-compliant-white-paper on 12 October 2026.
The Sweat Foundation Ltd is registered in the British Virgin Islands (no. 2081818). Sweat Wallet is a non-custodial wallet on the NEAR Protocol with support for Ethereum, BSC, Base and Arbitrum through Chain Signatures. SWEAT is the token issued by the Foundation and minted for verified physical movement.
Media contact: [email protected]
Contact
Sweat Foundation
[email protected]