introduction
WELL3 is a new project taking a new approach to health and wellness by integrating Decentralized Physical Infrastructure Networks (DePIN), Decentralized Identification (DID), and AI systems. Let’s take a closer look at this project.
overview
Company Name: WELL3
Token ticker: WELL
Blockchain: Multi-Chain
Sector: Distributed Physical Infrastructure Networks
(DePIN) and Decentralized Identity (DID)
Business Model: DePIN and AI Platform in the Wellness Industry
Learn more about WELL3
WELL3 is a new project that aims to reimagine health and wellness through a Decentralized Physical Infrastructure Network (DePIN), Decentralized Identification (DID), and an integrated AI system.
The platform has 1 million pre-registered users eagerly awaiting its release. WELL3’s mission is to improve health through a secure, data-driven health journey. By leveraging DePIN, blockchain and AI analytics, WELL3 delivers a secure, authenticated and personalized user experience while fostering a community where millions of people are united in their pursuit of health.
This approach ensures data ownership and security standards, while blending AI insights to customize wellness solutions that align with our vision of a safe, healthy future.
Major milestones and achievements
The WELL3 community is far and wide. With their help, the platform has achieved many accomplishments.
- Public sale: In seven days, the public sale reached a total value locked (TVL) of 15,237.2 ETH, or $55 million, with an additional $5 million raised through the seed round and NFT sale.
- Well ID: Following the announcement of the launch of the WELL3 Ring, a wearable device that converts personal health indicators into on-chain data, over 900,000 users signed up for the corresponding NFT whitelist and enrolled in the WELL3 ecosystem.
- WELL3 NFT Project: Since its launch on February 10th, 2024, Well3NFT has grown to become the largest NFT collection on the opBNB chain, with over 324,000 holders and 8 million NFTs created as of April 27th, 2024.
- transaction: WELL3 has created over $17 million in transactions.
- collaboration: WELL3 has partnerships with companies including Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance and Lumoz.
- Strategic Alliance: WELL3 has strategic partnerships with chains such as Polygon, Solana, Base, Ton, Avalanche, Arbitrum, BNB Chain, Sei, Algorand, Blast, telos, etc. The collaborations aim to enable users to benefit from a multi-chain and scalable ecosystem, enhancing the overall capabilities and scope of WELL3’s services.
Key Features of WELL3
In summary, WELL3 adopts a new approach to health data management under the DePIN framework.
- Data Decentralization: Health data is processed securely within the DePIN system. This process within Trusted Executive Environments (TEE) powered by Amazon Web Services (AWS) ensures that user data remains private and secure.
- Benefits of Wearable Devices for Better Health: WELL3 is introducing a line of wearable products, including a smart ring equipped with sensors and algorithms that provide a comprehensive view of an individual’s health. Users can earn WELL tokens by actively participating and agreeing to share their anonymized health data. This token-based ecosystem increases user engagement by rewarding healthy behaviors and data sharing, and allows users to be involved in the governance and ongoing development of the platform.
- Complete ownership of your personal data: By leveraging WELL3’s DePIN and DID technologies, users have full ownership over their personal information and data, while also being protected from unauthorised access, data breaches and fraud.
- Multi-Chain: WELL3’s multi-chain framework spans multiple blockchain platforms, including Bitcoin, Ethereum, Polygon, Solana, Blast, and TON. This reach allows WELL3 to leverage a variety of networks and allows users to interact with the WELL3 ecosystem across multiple platforms without barriers, facilitating a seamless and integrated user experience. Additionally, this approach allows WELL3 to choose the most efficient blockchain for any given action, significantly reducing transaction costs.
- Ecosystem interoperability: Designed to integrate with a variety of platforms and services, WELL ID eliminates the need for multiple passwords and redundant verification processes. WELL ID provides a unified identity solution that simplifies digital interactions while enhancing security.
What is the WELL token and what does it do?
The WELL token serves as both a utility token and a governance token within the WELL3 network, which operates across all Layer 1 (L1) and Layer 2 (L2) chains, empowering the network of health ecosystem partners and their users.
Specifically, use cases for the WELL token in the WELL3 ecosystem include:
- DePIN Ecosystem supports WELL3 ecosystem as rewards, health data sharing and activity-based incentives
- As a reward for contributing to the WELL3 decentralized network
- Decentralized identity creation and management with WELL ID
- Serves as a currency for both digital and physical purchases in the WELL3 ecosystem
WELL tokens will be distributed as follows:
- Max Supply: 42,000,000,000
- 71% of tokens will be donated to community activities
- Lockup: The unlocking schedule is spread across different time frames to align long-term interests and promote stability. WELL will be unlocked over a 24-month period according to the token release schedule.
Conclusion
WELL3 is focused on a secure, data-driven approach and incorporates advanced technology into health and wellness. Using DePIN, DID and AI, WELL3 aims to provide personalized health solutions while ensuring data security and user engagement.