Main navigation

WELL3 Revolutionizes Wellness with AI and DePIN Protocol Across Multiple Chains: Details

Advertisement
Mon, 24/06/2024 - 15:37
WELL3 Revolutionizes Wellness with AI and DePIN Protocol Across Multiple Chains: Details
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

WELL3 introduces itself as a pioneering force reshaping health and wellness through Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID) and integrated AI systems. 

What does WELL3 do: Quick overview 

With over 1 million pre-registered users eagerly anticipating its launch, WELL3’s mission is to enhance well-being through secure, data-empowered health journeys. By leveraging DePIN, blockchain, and AI analytics, WELL3 ensures a personalized user experience that is securely authenticated, while fostering a community where millions unite in their pursuit of well-being.

Article image
Image by WELL3

This approach allows users to elevate data ownership and security standards, seamlessly blending AI insights to tailor wellness solutions that align with their vision of a secure and health-conscious future. 

WELL3 key accomplishments: What has been achieved so far?

The WELL3 community is vibrant and expansive. With their help, WELL3 has achieved numerous record-breaking achievements.

Public sale and WELL ID launch

In a 24-hour public sale, WELL3 achieved a total value locked (TVL) of 15,237.2 ETH or $55 million USD, which remained locked for seven days. 

After the announcement of the launch of WELL3 Ring – a pioneering wearable that converts personal wellness metrics into on-chain data, over 920,000 users have signed up for the WELL ID and its corresponding NFT Ring whitelist within the WELL3 ecosystem. 

WELL3 NFT project and array of partnerships with crypto heavyweights

Since its launch on February 10th, 2024, Well3NFT has rapidly ascended to become the largest NFT collection on the opBNB chain, with over 324,000 owners and 8 million NFTs created by April 27, 2024. 

WELL3 has established partnerships with leading entities including Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance and Lumoz. 

Multichain ambitions of WELL3

In pursuit of interoperability and a seamless user experience across multiple networks, WELL3 has formed a strategic alliance with leading chains such as Polygon, Solana, Base, Ton, Avalanche, Arbitrum, BNB Chain, Sei, Algorand, Blast and Telos. This collaboration ensures that users benefit from a multichain and scalable ecosystem, enhancing the overall functionality and reach of WELL3’s offerings.

Key features of WELL3: Brief introduction

In a nutshell, WELL3 is leading a transformative approach in health data management under the DePIN framework. 

  • Data decentralization. Health data is securely processed within the DePIN system. This process within Trusted Executive Environments (TEE) powered by Amazon Web Services (AWS) ensures user data remains private and secured. 
  • Rewarding wearables for enhanced wellness. WELL3 introduces an innovative line of wearables, starting with a smart ring equipped with state-of-art sensors and algorithms that provides a comprehensive view of an individual's health. Users can earn $WELL tokens through active participation and consenting to share their anonymized health data. This token-based ecosystem not only boosts user engagement by rewarding healthy behaviors and data sharing but also ensures that users have a stake in the governance and ongoing development of the platform. 
  • Complete ownership over personal data. By leveraging WELL3's DePIN and DID technologies, users not only have complete ownership over their personal information and data, but are also safeguarded against unauthorized access, data breaches, and frauds. 
  • Multichain. WELL3’s multichain framework spans multiple blockchain platforms including Bitcoin, Ethereum, Polygon, Solana, Blast, and TON. This broad horizontal coverage allows WELL3 to leverage the strengths of various networks, ensuring that users can interact with the WELL3 ecosystem across multiple platforms without barriers, facilitating a seamless and integrated user experience. Additionally, this approach can significantly reduce transaction costs by allowing WELL3 to choose the most efficient blockchain for specific actions. 
  • Interoperability across ecosystems. Designed to seamlessly integrate across various platforms and services, WELL ID eliminates the hassle of multiple passwords and redundant verification processes. 

Whether it’s accessing health services, participating in wellness programs, or engaging with partner ecosystems, WELL ID provides a unified identity solution that simplifies digital interactions while enhancing security. 

What is $WELL token: Features and functions 

The $WELL token acts as both a utility and governance token within the WELL3 Network, embodying the core principles of Wellness, Health, and Governance. It powers a dynamic network of health ecosystem partners and their users, functioning seamlessly across all Layer 1 (L1) and Layer 2 (L2) chains. 

$WELL token functions

More specifically, the following are the use cases for the $WELL token in the WELL3 ecosystem:

  1. $WELL supports the WELL3 Ecosystem as DePin Ecosystem Rewards, health data sharing and activity-based incentives;
  2. $WELL acts as a currency for both digital and physical purchases in the WELL3 Ecosystem. 

As such, $WELL is a full-stack utility token for the participants of the Well3 ecosystem.

$WELL token distribution

Distribution of the $WELL token is as follows: 

  • Max supply is capped at 42,000,000,000 WELL;
  • 71% of tokens is allocated to community initiatives; 
  • The unlock schedule is spread across different timeframes to align long-term interests and promote stability;
  • $WELL will unlock over the course of 24 months per the Token Release Schedule.
Article image
Image by WELL3

As a result it is safe to say that the WELL3 team made its token distribution suitable for fair and democratic usage of the token by various groups of stakeholders.

Wrapping up: What is WELL3 and what is special about the $WELL token?

Simply put, WELL3 is a Web3 project that targets human health and well-being protection using the means of cryptocurrency, AI, and DePIN. It leverages the disruptive potential of multi-chain technical platforms across various top-tier programmable blockchains.

$WELL is an upcoming token of WELL3, its core rewards instrument and a backbone of monetization toolkit. The token is created with community and mind and is protected by a 24-month unlock schedule.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD