PROBLEM STATEMENT
Lots of people do not have time or motivation to go to the GYM. People try many different alternatives to find motivation, joining a nice gym, going to the gym with a friend, track your progress, and rewarding yourself. When we manage to drag ourselves to the gym in the evenings we usually feel exhausted from work, and more often than not I’d rather just go home, watch some TV and go to bed.
Exercise doesn't just strengthen your muscles, it also strengthens your heart and bones, lowers your blood pressure and of course, reduces your body fat. America may be one of the heftier nations, but go to the gym once in a while and you can stand many shades healthier and slimmer than the rest.
By addressing this this problem, we will be able to stay in shape, live a healthier live and look better.
SOLUTION
By leveraging the Ethereum Blockchain we have developed a Decentralized Proof of Exercise Token with an innovative mobile app that allows you to mine GYM cryptocurrency with your body.
We have developed the GYM Rewards app that rewards you for exercising at the GYM by introducing a Proof of Exercise ERC20 token. The more you exercise at the GYM, the more GYM tokens you will earn. GYM Rewards Tokens are redeemable at your local participating gyms and will be tradable at participating cryptocurrency exchanges.
GYM Rewards at your GYM
Easily make money at your local gym.
• Download the app
• Start your heart rate monitor and app
• Get Paid!
GYM Rewards at Athletic Events
Easily become an event manager and make money by submitting events.
(marathons, triathlons, etc.)
• Submit the event to the GYM Regards website for approval.
• Promote GYM Rewards at the event and allow participants to download the
app via your referral QRCode.
• Earn 0.5% off all participants earned cryptocurrency.
• Keep earning from there on those participants exercise.
The GYM Rewards App
Track your exercises and profits with our GYM App using today’s leading health devices.
The ultimate goal of GYM is to be the all-in-one solution to pay athletes for their exercise, provide wallet to manage their earnings and optimize their exercise routines.
• Heart rate monitoring
• Exercise log
• Cryptocurrency Wallet
No offer of securities
GYM tokens cannot be used for any purposes other than as provided in this White Paper, including but not limited to, any investment, speculative or other financial purposes. GYM Tokens confer no other rights in any form, including but not limited to any ownership, distribution (including, but not limited to, profit), redemption, liquidation, property (including all forms of intellectual property), or other financial or legal rights, other than those specifically set forth below. GYM tokens confer no rights in the company and do not represent participation in the company. GYM tokens are sold as a functional utility. According to the professional opinion of our legal advisors, based on the Howey Test our GYM REWARDS tokens (GYM) should not be deemed as securities and do not need to be registered as a securities. GYM tokens are not securities. The user acknowledges, understands, and agrees that GYM REWARDS tokens are not securities and are not registered with any government entity as a security, and shall not be considered as such. The User acknowledges, understands, and agrees that ownership of GYM REWARDS GYM token does not grant the User the right to receive profits, income, or other payments or returns arising from the acquisition, holding, management or disposal of, the exercise of, the redemption of, or the expiry of, any right, interest, title or benefit in the GYM REWARDS or GYM REWARDS platform or any other GYM REWARDS property, whole or in part. GYM tokens are not official or legally binding investments of any kind.
Risks and uncertainties
The GYM REWARDS platform is not yet developed and is subject to further changes, updates, and adjustments prior to its launch. Such changes may result in unexpected and unforeseen effects on its projected appeal to users, possibly due to the failure to meet users’ preconceived expectations based on this White Paper, and hence, impact its success. For the foregoing or any other reason, the development of the GYM REWARDS platform and launch of GYM REWARDS future business lines may not be completed and there is no assurance that it will be launched at all.
Additionally, in a down-cycle economic environment, GYM REWARDS may experience the negative effects of a slowdown in trading and usage of the GYM REWARDS platform and may delay or cancel altogether the structuring and launch of the anticipated GYM REWARDS future business lines. Further, should the costs, financial or otherwise, of complying with any newly implemented regulations exceed a certain threshold, bearing in mind the fact that it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting future business lines, maintaining the GYM REWARDS platform and structuring and launching GYM REWARDS future business lines may no longer be commercially viable, and the Company may opt to discontinue the development and operation of GYM REWARDS platform. We may not be able to pay any anticipated rewards in the future. There is no assurance that there will be sufficient engagement in the GYM REWARDS platform and that you will receive any rewards/discounts. The ability of the Company to pay any reward to you will depend on the future results of operations and the future business and financial condition of the Company. In the case of unforeseen circumstances, the objectives stated in this document may be changed. Despite the fact that we intend to reach all goals described in this document, all parties involved in the purchase of GYM tokens do so at their own risk. The funds raised in the ICO are exposed to risks of theft. The Company will make every effort to ensure that the funds will be securely held in blockchain wallets. Notwithstanding such security measures, there is no assurance that there will be no theft of the cryptocurrencies as a result of hacks, sophisticated cyber-attacks, distributed denials of service or errors, in the smart contract(s) on the Ethereum or any other blockchain, or otherwise. In such event, even if the ICO is completed, the Company may not be able to receive the cryptocurrencies raised and GYM REWARDS Ltd. may not be able to use such funds for the development of the GYM REWARDS platform. In such case, the launch of the GYM REWARDS platform might be temporarily or permanently curtailed.
Join the GymRewards Bounty Campaign on Bountyhive!
https://bountyhive.io/join/GymRewards
Website: https://ico.gymrewards.io/
Whitepaper: https://files.acrobat.com/a/preview/8f3dbf7d-a966-429f-a9a7-8bb765907140
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