PANews reported on October 1 that the Sweat Foundation announced that, because the current model has failed to achieve sustainable profitability, Sweat Wallet and SWEAT will terminate their existing operating format on December 30, with specific follow-up arrangements expected to be announced in the first week of December.
The foundation stated that when the claiming and Grow Jar contracts are closed, unclaimed SWEAT and savings balances will be sent to the corresponding NEAR accounts. SWEAT tokens will still exist on NEAR and the bridged EVM chains; the Sweatcoin app, operated by an independent company, will continue to operate normally.