🥹 The Unfortunate End of Sweat Wallet Lite

Yesterday, Telegram and TON Foundation unveiled an exclusive partnership, designating The Open Network (TON) as Telegram's official blockchain infrastructure for tokenization, payouts, mini app integrations, and more. This move is designed to offer Telegram users a seamless and secure experience across its ecosystem.

✈️ As part of this collaboration, new blockchain guidelines have been issued for mini app developers. These guidelines mandate that all mini apps operating on non-TON blockchains must transition exclusively to TON by February 21, 2025. Requirements include:

• Bridging existing assets and migrating smart contracts to the TON Blockchain.
• Exclusively utilizing TON Connect SDK for cryptocurrency wallets.
• Prohibiting the promotion of wallets unless they are based on the TON Blockchain.
• Focusing app interactions and services primarily on TON-related activities.

❌ Sweat Wallet Lite, built entirely on and for the Near Protocol, violates all these guidelines.

The Sweat Foundation has briefly mentioned that TON will be one of the blockchains integrated into the Sweat Wallet app as part of Sweat Economy's plans to expand into a multichain ecosystem. However, meeting Telegram's new blockchain guidelines for mini app developers would demand an extensive overhaul of the entire Sweat Economy on-chain infrastructure—a task that may exceed both the developers' timeline and priorities.

With such stringent requirements and a looming deadline, one must wonder: Can the Sweat Economy developers find a feasible workaround, or is this the inevitable end of the Sweat Wallet Lite mini app?

🪙 The Sweatcoin Twitter account is on a comedy spree. How many times have you laughed... or cringed?

📈 When to Expect the 2025 Sweat Economy Roadmap

If you're anxiously waiting for Sweat Economy's 2025 roadmap, here's a reminder: last year, the 2024 Movement Economy Roadmap was released in the second week of February. Assuming the Sweat Foundation is operating on a similar timeline, we can anticipate this year's roadmap in the next two to three weeks.

This raises intriguing questions about what this year's roadmap will include. Notably, two significant components from last year—SweatPay and Sweat Hero v2 with dynamic NFTs—remain unaddressed. Will these features reappear, or are they being sidelined indefinitely?

Reflecting on last year's roadmap, the primary focus was on enhancing Sweat Economy ecosystem products, particularly the Sweat Wallet app. Unfortunately, community growth and marketing were given minimal attention, with the referral program being a notable disappointment.

As we look ahead, one key question emerges: will this year's roadmap prioritize community growth and marketing? And if so, is the product itself robust enough to justify intense promotion? Or will the Sweat Foundation opt to double down on refining the ecosystem once more before scaling up?

❤️ What are your thoughts on the direction Sweat Economy should take in 2025?

You are Poorer! 🤨

I came across a comment in the Sweat Economy’s coinmarketcap community that gave me a good chuckle. Someone said, “SWEAT is a little bit like a stablecoin, but with excellent staking rewards.” This is a clear reflection of how detached from reality these coinmarketcap communities often are, given that they are largely filled with bots and inexperienced newcomers.

The commenter likely equated SWEAT to a stablecoin because the token has been sluggish and stuck in the $0.015 to $0.006 price range for two years, making minimal reactions to general market bullish or bearish trends. They also assumed that the constant price decline is balanced out by the staking rewards.

However, their statement is entirely wrong 😟

A stablecoin like USDT has performed better in the market compared to SWEAT for the simple reason that a token that doesn’t move is better than a token that continuously moves downward. Since Sweat Economy’s launch, a stablecoin has maintained its value while SWEAT has lost more than 85% of its value.

Staking rewards cannot offset this loss either. The best Growth Jar in the Sweat Wallet offers a 16% APR, but the rewards are paid in the same depreciating token. Additionally, the commenter overlooked the fact that stablecoins also have staking opportunities, and other defi options often offering similar or better returns.

To put things in perspective 💡

If two people invested an equivalent dollar amount at the launch of the Sweat Economy, with one exchanging it for a stablecoin and the other for SWEAT, the SWEAT investor would now be 700% poorer than the stablecoin holder.

There is no pride in being a SWEAT token holder from an investment perspective. While it may have given you a sense of community and improved your physical activity levels, the reality is that purchasing SWEAT tokens has likely been one of the worst financial decisions you’ve made so far.

☝️ Struggling, Not Scamming

I know that the tone of my recent posts might make it seem like I believe this project is a complete joke with no future. If you're new here, you might even get the "this is a scam" vibe. I understand why: frustration is high, and expectations haven't been met. But that’s not the full picture.

Let’s get one thing straight: Sweat Economy is not a scam. The team isn’t running off with anyone’s money, as some have claimed. What we’re witnessing isn’t deception (in my opinion)—it’s a project struggling to find its footing in a brutal market.

The truth is, 99.99% of teams wouldn’t stick around in a profitless environment like this for as long as the Sweat Foundation has. The fact that they are still here, still building, and still trying—despite the backlash, setbacks, and disappointments—proves that they have genuine intent. Whether or not they succeed is another question, but they haven’t abandoned ship, which in itself says a lot.

The issues Sweat Economy faces today are a mix of poor calculations, unexpected obstacles, and external market conditions beyond their control. However, looking ahead, the likelihood of improvement outweighs the chances of things getting significantly worse. The foundation is there, and whether they execute well enough to turn things around is what remains to be seen.

🗓 A token holder briefing is coming up soon. Historically, these meetings have provided clarity, insight, and some sense of direction. The team will speak on where they stand, what they’re working on, and what they hope to achieve. If nothing else, it should give us a better understanding of their vision and whether it's worth sticking around.

So yes, the situation is bad. No sugarcoating that. But I genuinely don’t get why some of you are acting like it’s the end of the world.

50M SWEAT Burned 🔥

This is the worst day in crypto history—at least from a chart perspective—but somehow, SWEAT is up 10%. This project operates in its own isolated and unrelatable world, and for once, that has actually worked in its favor 😅.

🪙 Announcement: Token Holder Briefing

Mark your calendars! On Friday, 7th February, a major Sweat Economy Token Holders Briefing will be live. Join for exclusive news, alpha, roadmap details, and insights directly from the SWEAT executive team.

What to Expect:
• Tokenomics Update
• Product Roadmap and Upcoming Launches
• Partnerships and Marketing Plans

Set your reminder on 🎬 YouTube by clicking here. Don’t miss it!

I’m back from an amazing mini vacation! 🏝 Totally disconnected from the internet while I was away.

Turns out Sweat Economy dropped a roadmap, Trump started trade wars, altcoins capitulated, and—oh, this mooning—Near Protocol briefly rebranded to Goon Protocol. What a time to catch up! 😂

The Memhash Debacle: Telegram's Role in a Broken Ecosystem

Today, the Telegram mini-app crypto project Memhash conducted its TGE and listed on centralized exchanges and DEXs. This project stood out—built by a single developer over a weekend, it managed to generate over $1M in revenue within a few days after launch.

Memhash was an on-device miner, utilizing users' computing power to mine tokens. But unlike other mini-app crypto projects, it was a paid app. Users had to pay upfront just to start mining. Additionally, there were limitless in-game purchases to level up and maximize mining efficiency.

With Pavel Durov himself praising the project, and support from TON Core and market maker DWF Labs, expectations were sky-high. This wasn’t just another free-to-play airdrop farm—every user had skin in the game, making people believe that rewards would be significant.

💲 The Most Profitable Telegram Mini-App—For the Developer

In just a few days, Memhash became the most financially successful mini-app in Telegram's history, collecting at least $40M from players. Things looked even better as TGE approached:

• Inactive users' tokens were blocked from TGE and automatically moved to "Season 2."
• Early high-volume miners also had 80% of their tokens locked and moved to S2
• Many users voluntarily locked tokens for Season 2, expecting even bigger gains.

The hype was overwhelming, the richest Telegram mini app distributing its minimal token supply to a select group of paying users. The expectation? Massive gains.

🔴The reality? Memhash listed with a market cap of just $5M. That's lower than your averagely successful shitcoin on TON. More than 90% of users didn’t even break even. People rented expensive remote servers, fried their phones, and spent ridiculous amounts on upgrades—only to experience one of the most blatant rug pulls in TON's history.

✈️ Telegram's Crypto Ecosystem: A Playground for Scammers

Memhash wasn’t an isolated case. This same pattern has played out across nearly every major Telegram mini-app crypto game—except Notcoin, Major, and Catizen (though the latter two banned millions of users).

But what makes Memhash especially concerning is how deeply it was endorsed by Telegram itself. After the massive disappointment of its listing today, Pavel Durov doubled down—publishing yet another post praising Memhash's "success" and urging developers to "learn from it."

Apparently, in Pavel Durov’s world, "success" means developers making maximum profit with minimal resources—at the expense of users.

This arrogant philosophy is now bleeding into every part of Telegram Messenger. Durov's beloved app is now:

• Selling millions of "limited" Telegram Gifts (NFTs) at outrageous prices with laughable utility.
• Approving and distributing scam crypto ads across public channels.
• Requiring KYC for users who want to access Telegram’s blockchain tools that are now mandatory for the app's Web3 experience.
• Complying with government censorship requests, despite years of promises to protect free speech.

Telegram Has Become Everything It Swore Never to Be — Years ago, Pavel Durov swore several times on his life that Telegram would never introduce ads or backdoors for governments. He mocked Zuckerberg for auctioning his audience and abusing his people's right to privacy.

🤡 Today, Telegram is actively enabling and profiting from an ecosystem designed to scam users. Its (now official) partnership with TON has given scammers unfiltered access to millions of users, onboarding them into crypto just to rug them immediately.

TON has now reached Solana levels of degeneracy—except this time, the scams are officially endorsed.

The kings of onboarding and distribution are naked.

Near Protocol, do something about this.

🟢 Lessons for NEAR Protocol and What It Can Do

In response

NEAR Protocol has a golden opportunity to learn from TON’s failures, capitalize on the growing frustration with its ecosystem, and position itself as the superior choice for onboarding and distribution. Here’s what NEAR should take away from this mess—and what it can do differently.

1. Prioritize Quality Over Hype & Avoid the Fast-Money Trap

Hype-driven mini-games and memecoins aren't inherently bad, but when an ecosystem becomes dominated by Ponzi-like pay-to-earn schemes, trust is lost. TON's biggest issue is that it prioritized quick cash and inflated metrics over sustainable growth, burning users in the process. What NEAR should do:

• Support genuinely innovative projects with long-term value, not just money grabs.
• Discourage Ponzi models and pay-to-earn structures that extract value without creating any.
• Demand transparency from projects to prevent misleading "get rich quick" narratives.

2. Build a Trustworthy Crypto Gaming Ecosystem

TON and Telegram, whether intentionally or not, have enabled a cycle of onboarding, extracting money, and rugging users. This is not sustainable. If NEAR wants to thrive, it must establish a reputation as the safer alternative. How NEAR can stand out:

• Implement minimum transparency and audit standards for projects receiving official support.
• Introduce a verification badge system for legitimate projects to help users identify safe and fair games.

3. Protect Community Trust—Don't Exploit It

Telegram and Pavel Durov leveraged their credibility to push dumb projects, leading users to assume they were legitimate. But after repeated scams, both are rapidly losing trust. NEAR should take the opposite approach.

• Build a truly community-driven ecosystem, avoiding hype-driven influencer marketing.
• Hold developers accountable—publicly call out bad actors and cut off ecosystem support.
• Avoid “Founder Worship”—TON thrives on Durov’s cult-like status, but NEAR should distribute power and influence among real builders instead of a single figurehead.

4. Make Crypto Onboarding Safe & Sustainable

TON's biggest strength—onboarding millions—has become its biggest weakness, as most users enter Web3 only to be scammed. If your ecosystem gives newcomers a negative experience, you've lost them for good. NEAR’s approach to fix this:

• Ensure low-risk entry to Web3 gaming and DeFi to prevent immediate rug pulls.
• Replace Ponzi-like reward models with genuine staking incentives and sustainable mechanics.
• Maintain ethical advertising standards—don't let scams dominate your ecosystem.

🔥 The Opportunity for NEAR

Telegram and TON's decentralization experiment is failing—TON is becoming an unchecked scam factory while Telegram turns into a corporate cash grab. The only thing keeping it afloat is its massive user base, but trust is eroding fast.

This is NEAR's moment to step in as the “cleaner” alternative—a blockchain that offers the same seamless onboarding as TON but with integrity, transparency, and sustainable growth. If NEAR can build a better GameFi and DeFi experience while protecting users, it can dominate this space.

The window of opportunity won’t stay open forever—NEAR just needs to act now.

The dip is still dipping 🤣🤣🤣