|Company:||GYM Rewards, LLC|
|Industry:||Health / Proof of Exercise Platform|
|ICO Timeframe:||March 2018|
|Token Supply:||2,000,000,000 GYM (10% Crowdsale)|
The GYM rewards app will reward participants for exercising at the gym by introducing Proof of Exercise to the blockchain. The more an individual exercises at the gym, the more GYM Coins a person will earn. GYM Coins will be redeemable at your local participating gyms and will be tradable at participating cryptocurrency exchanges.
PROS: Attractive approach for rewarding gyms and health events for on-boarding users to the GYM Rewards platform (earn 0.5% of cryptocurrency mined by on-boarded participants), unique approach to rewarding healthy lifestyle and will benefit from favorable trends in fitness and healthy living industries, eliminates the “unfair” advantage of large-scale mining operations as the mining of GYM can only be achieved through one’s body.
CONS: Relatively sparse white paper, cryptocurrency mining determined by heartrate monitor which could easily be manipulated, how GYM Rewards plans to monetize their application for sustainability is a large question which remains to be answered in their white paper, in order for tokens to have value they need to be redeemed for something, so far they use the term “rewards” but fail to indicate exactly what those rewards might be comprised of, large gap between softcap ($100k) and hardcap ($15 million) could lead to misuse of funds depending on popularity and success of crowdsale.