Introduction
WELL3 is a new project that takes an innovative approach to health and wellness by integrating a decentralized physical infrastructure network (DePIN), decentralized identity (DID), and AI systems. Let’s explore the project in more detail.
Preview
Company: WELL3
Token Ticker: GOOD
Blockchain: multichain
Sector: Decentralized physical infrastructure network
(DePIN) and decentralized identity (DID)
Business Model: a DePIN and AI platform in the wellness industry
WELL3 Details
WELL3 is a new project that aims to reshape health and wellness through Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID), and integrated AI systems.
The platform has 1 million pre-registered users waiting for its launch. WELL3’s mission is to improve well-being through secure, data-driven health journeys. Leveraging DePIN, blockchain, and AI analytics, WELL3 claims to deliver a securely authenticated and personalized user experience while fostering a community where millions of people unite in their pursuit of well-being.
This approach ensures data ownership and security standards, combining AI insights to tailor wellness solutions that fit their vision of a safe, health-conscious future.
Key milestones and achievements
The WELL3 community is large. With their help, the platform has achieved several achievements.
- Public sale: In seven days, the public sale recorded a total value locked (TVL) of 15,237.2 ETH or $55 million USD. Additionally, over $5 million was raised through the seed funding round and NFT sales.
- WELL ID: After announcing the launch of WELL3 Ring, a wearable that converts personal wellness metrics into on-chain data, more than 900,000 users signed up to its corresponding NFT whitelist and registered on the ecosystem WELL3.
- NFT WELL3 project: Since its launch on February 10, 2024, Well3NFT has become the largest NFT collection on the opBNB chain, with over 324,000 owners and 8 million NFTs created as of April 27, 2024.
- Transactions: Over $17 million in transactions have been created on WELL3.
- Collaborations: WELL3 has established partnerships with entities such as Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance and Lumoz.
- Strategic alliance: WELL3 has formed a strategic alliance with chains such as Polygon, Solana, Base, Ton, Avalanche, Arbitrum, BNB Chain, Sei, Algorand, Blast, and telos. This collaboration aims to ensure that users benefit from a multi-chain and scalable ecosystem, thereby enhancing the overall functionality and scope of WELL3’s offerings.
Key Features of WELL3
In summary, WELL3 takes a new approach to health data management within 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.
- Connected objects rewarded for increased well-being: WELL3 introduces a range of wearables, starting with a smart ring equipped with sensors and algorithms that provides 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 drives user engagement by rewarding healthy behaviors and data sharing, and also ensures that users participate in the governance and ongoing development of the platform.
- Full ownership of personal data: By leveraging WELL3’s DePIN and DID technologies, users have complete ownership of their personal information and data and are also protected against unauthorized 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 coverage allows WELL3 to leverage diverse 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 between ecosystems: Designed to integrate with different 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 improving security.
What is the WELL token? And what is it used for?
The WELL token acts as both a utility and governance token within the WELL3 network. It powers a network of healthcare ecosystem partners and their users, operating across all Layer 1 (L1) and Layer 2 (L2) chains.
More specifically, here are the use cases for the WELL token in the WELL3 ecosystem:
- Supports the WELL3 ecosystem as DePIN ecosystem rewards, health data sharing, and activity-based incentives
- As a reward for your contribution to the WELL3 decentralized network
- Decentralized identity creation and management via WELL ID
- Act as a currency for digital and physical purchases in the WELL3 ecosystem
The distribution of the WELL token is as follows:
- Maximum bid: 42,000,000,000
- 71% of tokens are intended for community initiatives
- Lock: The unlock schedule is spread over different time periods to align long-term interests and promote stability. WELL will unlock over the course of 24 months depending on the Token Release Schedule.
Conclusion
WELL3 integrates advanced technology in health and wellness, focusing on secure and data-driven approaches. With its use of DePIN, DID and AI, WELL3 aims to deliver personalized health solutions while ensuring data security and user engagement.
