Blockchain wellness platform WELL3 has announced the listing of its $WELL token on Bybit, Bitget and Gate.io, some of the most prominent exchanges in this sector. The platform seeks to transform personal health data management and create value for its community.
The $WELL token will debut on July 3, 2024, at 10:00 A.M UTC with a raft of token-related campaigns and competitions to go along. The token contract address during listing will be “0x63696Fc66795B51d02c1590b536484A41fbDDF9a.”
Decentralizing Health Data Management
WELL3 operates in the wellness space and utilizes blockchain efficiency to transform health data management.
The platform has an advanced decentralized Physical Infrastructure Network (DePIN) and Decentralized Identity (DID), which work with advanced AI analytics to remarkable effect. Users on the platform contribute to governance and benefit from airdrops and rewards.
The rise of digital wearables has led to higher levels of health awareness among the general public. WELL3 intends to leverage the data from user devices to create opportunities for users to potentially gain from their data.
Accordingly, the platform has launched with unprecedented adoption by close to 1 million users. The DePIN system allows for the secure processing of user data, with Amazon Web Services (AWS) providing processing security and scalability.
Users control their data to prevent breaches and other forms of unauthorized access. Each data provider benefits from the DePIN and DID technologies to ensure complete ownership of their data throughout.
The platform spans multiple blockchain platforms, including Bitcoin and Ethereum. This broad coverage ensures that WELL3 is relevant to users on various networks and enhances overall utility. The ecosystem also integrates seamlessly with external scaffolds, boosting the reach of users from their native platform.
The platform already has over a million users, with notable investors like Animoca Brands, Newman Group, The Spartan Group, Fenbushi Capital, and Soul Capital in tow. WELLl3 seeks to become a change driver for the wellness industry and ensure that related data empowers individuals on the platform.
Tokenomics
WELL3 has a maximum token supply of 42 Billion $WELL. This supply provides sufficient liquidity for the platform to operate without creating an oversupply. WELL3 shall allocate 71% of its token supply to community-led initiatives, indicative of a platform keen to reward its developer base and users for their contributions.
The development team has implemented an unlock schedule to promote long-term stability. The Token Release Schedule shall guide this unlocking process to ensure effective rollout and continual development. WELL3 intends to reward early adopters on various exchange platforms for engagement and contribution to the platform.
The $WELL token is at the heart of operations. It serves as the utility and governance tool on the platform and the fuel on which it runs. The token’s functions include powering the ecosystem since $WELL is the fuel that powers the ecosystem. Every transaction relating to governance and incentivization relies on tokenization.
Additionally, $WELL is multichain meaning users can freely transact across its multichain architecture. The token will also be used to reward wearable data providers. In this arrangement, users can share their anonymized health data and get rewards in $WELL.
Conclusion
WELL3 looks to be a pioneering force in the decentralized wellness sector. Users can leverage their wellness journeys into potentially lucrative ventures on a platform that values privacy. The success of this platform shall be a blueprint for data management in the blockchain era. WELL3 shall continue to grow and onboard more investors and partners to actualize its vision.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
