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Gymrewards – Solution to support getting paid for exercising

The GYM Rewards project consists of an entire solution to support getting paid for exercising. From the Blockchain that supports Proof of Exercise to the GYM Rewards Exchange for gymnasiums and other partners to come and exchange GYM Tokens. There is no need to wait for exchanges to support GYM and there is no need to take the risk of getting stuck with useless tokens.

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The GYM Rewards app is a patent pending app that rewards you for exercising at the GYM by introducing Proof of Exercise to the blockchain. The more you exercise at the GYM, the more GYM Coins you will earn. GYM Coins are redeemable at your local participating gyms and will be tradable at participating cryptocurrency exchanges. The GYM Rewards ICO Token is an Ethereum ERC20 token. The GYM Rewards app token is from the Plata Blockchain, an Ethereum fork that will be minable by a Proof of Exercise component within the Token and the Mobile App.

They love Ethereum, however, their new Blockchain will introduce the following features not available in Ethereum: 1. Proof of Exercise 2. Free Contract Submissions 3. Token Transaction fees are based on the token itself, not on the blockchain coin.

The GYM Token allows for Proof or Work (POW). The POE is a contract-based rewards system that it’s activated by detecting locations in the geolocation coordinates contract and using heartbeats via the GYM mobile App to deliver block rewards once the time of required work has been met.

Token earning structure estimates, these are based on mining difficulty, therefore the fewer tokens you can earn the more valuable they will become.

  • Running 10 minutes: .1666667 GYMs per Minute
  • Running 1 hour: 10 GYMs per hour

Their goal

Their goal is to motivate people into exercising and becoming healthy with currency and to compensate those who are taking care of themselves every day.

Blockchain?

When they started thinking about their project they had one thing in mind. What can they do so the big mining farms stop getting all of the market shares? The main reason they all love cryptocurrency is that it skips the middleman, and because, they thought they would be able to actually eliminate the unfair distribution of currency.

SOLUTION

By leveraging the Ethereum Blockchain they have developed a Decentralized Proof of Exercise Token with an innovative mobile app that allows you to mine GYM cryptocurrency with your body. They have developed the GYM Rewards app that rewards you for exercising at the GYM by introducing a Proof of Exercise ERC20 token. The more you exercise at the GYM, the more GYM tokens you will earn.

Easily make money at your local gym.

  • Download the app
  • Start your heart rate monitor and app
  • Get Paid!

Easily become an event manager and make money by submitting events. (marathons, triathlons, etc.)

  • Submit an event at the GYM Regards website for approval.
  • Promote GYM Rewards at the event and allow participants to download the app via your referral QRCode.
  • Earn 0.5% off all participants earned cryptocurrency.
  • Keep earning from there on those participants exercise.

Easily submit your local GYM for approval. Your local GYM is not a participant? Great news for you, you can become its sponsor and make money from all of its mining.

  • Submit your local gym to the GYM Regards website for approval.
  • Promote GYM Rewards at the gym and allow participants to download the app via your referral QRCode. (Hint: Wear a t-shirt with the QRCode)
  • Earn 0.5% off all participants earned cryptocurrency.
  • Keep earning from there on those participants exercise.

THE GYM REWARDS APPLICATION

The ultimate goal of GYM is to be the all-in-one solution to pay athletes for their exercise, provide wallet to manage their earnings and optimize their exercise routines.

  • Heart rate monitoring
  • Exercise log
  • Cryptocurrency Wallet

GYM TOKEN

They are all equal, the only thing that will differentiate who owns more currency will be measured by the sweat of their exercises.

  • Proof of Exercise (POE)
  • Heart rate monitoring
  • Cryptocurrency wallet
  • Tokens and Smart Contracts
  • Social Networking
  • Rewards referral features
Start: March 2018
Hard cap: 15,000 ETH
Soft cap: 100 ETH
Token: GYM
Exchange rate: 1GYM=0.0001ETH
Project protocol: ERC20

 

Read more: Whitepaper

Website: gymrewards.io

GymRewards Campaign: https://bountyhive.io/join/GymRewards

 

 

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