Physical activity stimulates various brain chemicals and leaves you happier and more relaxed. You may also feel better about your appearance and yourself when you exercise regularly, which can boost your confidence and improve your self-esteem.
Exercising at least an hour out of 24 hours in a day is enough to make us stay fit but the majority of people are not motivated to do so simply because it only takes time out of their precious time without getting any physical money from it. This led to the creation of a blockchain backed project called "GYMREWARDS".
What is GymReward?
It is a project built on blockchain technology that rewards people for exercising their body and also allows gymnasiums to exchange tokens among themselves. The basis of this project is to address the lackadaisical attitudes of people towards daily/weekly exercise by rewarding them with some tokens for keeping their body fit.
GymReward Platform
The GYM Rewards Token is an ERC20 Ethereum token and its application is from the Plata Blockchain - an Ethereum fork that will be mineable by a proof of exercise component within the token and the mobile app- in order to introduce some missing functions on ethereum blockchain such as;
1. Proof of exercise
2. Free Contract Submissions
3. Token Transaction fees are based on the token itself.
Earned tokens are based on mining difficulty which will increase the value of the token because the lesser the token earned, the higher the value of the token.
Rewards will be given base on;
• 10 minutes run: 0.1666667 GYMs per Minute
• 1-hour run: 10 GYMs per hour
Rewards token are redeemable at your local participating gyms and will be tradeable at participating cryptocurrency exchanges.
Token Sale
Start: March 2018
Hard cap: 15,000 ETH
Soft cap: 100 ETH
Token: GYM
Exchange rate: 1 GYM= 0.0001 ETH
Project protocol: ERC20
Advantages of buying GYM Tokens
1.The GYM Token will be used for the ICO funding of the GymReward application which will be used for the fitness industry.
2.GYM ICO Token Holders will receive 1:1 on Ethereum GYM.
3.Transaction fees will be distributed among ICO Investors in relation their token market share at the moment of ICO closing.
Token Distribution
• 5% Long Term Reserve
• 5% Core Team
• 4% Airdrop and Bounties
• 3% Advisors and Partnerships
• 10% Token Sale
• 73% of GYM App Mining
Max Cap: 2,000,000,000
Note: Whatever does not sell at the ICO goes back to GYM App Mining to meet distribution process.
Roadmap:
Dec 2017--------------- Brainstorming and proof of concept
Feb 2018----------------Partnership and whitelisting
March 2018------------ICO Launch at 50% Bonus
April 2018--------------ICO bonus stage at 40, 20 and 10% respectively
May 2018---------------Final ICO stage and listing.
Conclusion:
GymRewards will definitely change populace attitude towards exercising and keeping their body fits, as today's fast pace society finds it hard to find time and motivation to exercise their body. So, let be part of this lifetime revolution project as it is expected to have an impact on both young and old irrespective of gender as many people will now mine with their bodies which is quite more easier than other forms of minings.
Bountyhive username: simplibaba
