CoinDesk Report:
Discover how WELL3 transforms health data management, prioritizes user privacy, and rewards participation. The new era of health is here!
Introduction
WELL3 is a groundbreaking Wellness Web3 platform that transforms health data management into incentive rewards. With its unique DePIN (Decentralized Physical Infrastructure Network) and decentralized identity, WELL3 surprises users with unexpected airdrop events and incentives.
WELL3 has over 1 million pre-registered users and aims to promote health through a secure, data-centric health experience. This strategy allows users to enhance data ownership and security while providing customized health solutions powered by artificial intelligence technology.
Highlights and Milestones
WELL3 has successfully attracted over 900,000 unique users, with user-created NFT transaction volume reaching 17 million and a total of 7.1 million transactions. The platform’s notable achievement is being able to raise $55 million in less than 24 hours. It has established strong partnerships with industry giants such as Samsung, AWS, Animoca Brands, Blocore, and Fenbushi.
The partner network is vast, including Polygon, Mantle, Solana, Avalanche, BNB Chain, and Arbitrum One. WELL3 achieved an impressive $55 million TVL (15237.2 ETH) in its 24-hour public token sale, which lasted for seven days. In addition, they raised over $8 million through seed rounds and NFT sales.
When WELL3 announced the development of a new wearable device that converts user health data into blockchain data using the WELL3 Ring, over 900,000 users registered for the NFT Ring whitelist and joined the WELL3 ecosystem. Furthermore, shortly after its launch, WELL3 became the largest NFT collection on the opBNB chain, with over 324,000 owners and 8 million NFTs.
The platform has processed 17 million transactions. To enhance interoperability and improve user experience, WELL3 has formed strategic alliances with multiple blockchain platforms, including Polygon, Solana, Base, Ton, Avalanche, Arbitrum, and BNB Chain.
Key Features of WELL3
Secure Decentralization of Data: The DePIN system securely processes health-related information within an AWS-supported Protected Execution Environment (PEE), ensuring the confidentiality and protection of user data.
Incentivizing Health Through Wearable Devices: WELL3 has introduced a range of unique wearable devices, starting with the smart ring equipped with advanced sensors and algorithms for comprehensive health analysis. Users who actively participate and agree to share anonymous health data will receive $WELL token rewards.
Complete Control of Personal Information: With the help of WELL3’s DePIN and DID solutions, users can fully control their personal data and are protected from unauthorized intrusion, data leaks, and fraudulent activities.
Multi-Chain Framework: WELL3’s extensive blockchain network includes platforms such as Bitcoin, Ethereum, Polygon, Solana, Blast, and TON, promoting user interaction across different platforms, improving user experience, and minimizing transaction costs.
Cross-Platform Compatibility: WELL ID is designed to operate smoothly across various platforms and services, without the need for multiple passwords and repeated verification processes.
Tokenomics
Token Metrics:
Company: WELL3 Token: $WELL Blockchain: Multi-Chain Industry: DePIN and DID Model: DePIN and AI in the health industry
Token Distribution:
Tokenomics encourages loyal adoption and participation from contributors. 71% of WELL tokens are allocated for community initiatives. 5% (21 billion tokens) are allocated for TGE liquidity. Maximum token supply for WELL token: 420 billion. Lockup period: Tokens unlock over a period of 24 months.
Use Cases:
The DePIN ecosystem rewards the sharing of personal health data and other contributions. It also supports WELL3’s decentralized network, supporting its structure and functionality.
It will also be used to create and manage identities through WELL ID to enhance user privacy and control. It will serve as the currency for any digital or physical purchases within WELL3 and facilitate transactions and exchanges.
Partnerships
Recently, WELL3 announced partnerships with major blockchain participants such as Polygon, Ethereum, Base, and others. These partnerships hold great potential for mutual development and seamless implementation in the future.
More Chains, More Wins discusses the benefits to users when WELL collaborates with multiple chains. If you are a WELL3 user, it means significant rewards and airdrops, not on just one chain, but on multiple chains.
Conclusion
WELL3 has become one of the most modern platforms built on blockchain technology, revolutionizing traditional health data management. The DePIN system, wearable technology, and decentralized identity solution offered by WELL3 prioritize user privacy while rewarding their participation. Moreover, the platform’s multi-chain partnerships and token distribution strategy improve the user experience, highlighting the future of WELL3 and its growing user base.
