Introduction
WELL3 is a new project that takes a novel approach to health and wellness by integrating Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID) and artificial intelligence systems. Let's explore the project in more detail.
General description
Company: WELL3
Token Symbol: WELL
Blockchain: Multichain
Sector: Decentralized Physical Infrastructure Network
(DePIN) and Decentralized Identity (DID)
Business Model: A DePIN and ai Platform in the Wellness Industry
Details of WELL3
WELL3 is a new project that aims to reshape health and well-being through Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID) and integrated ai systems.
The platform has 1 million pre-registered users who are anticipating its launch. WELL3's mission is to improve well-being through safe, data-driven health journeys. By leveraging DePIN, blockchain, and ai analytics, WELL3 delivers a personalized user experience that is securely authenticated, while fostering a community where millions come together in their pursuit of wellness.
This approach ensures data ownership and security standards, combining ai insights to personalize wellness solutions that align with your vision of a safe, health-conscious future.
Key milestones and achievements
The WELL3 community is extensive. 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. Additionally, over $5 million was raised through seed funding rounds and nft sales.
- WELL IDENTIFICATION: Following the announcement of the launch of the WELL3 Ring, a wearable device that converts personal wellness metrics into on-chain data, over 900,000 users have signed up for their respective nft whitelist and registered for the WELL3 ecosystem.
- WELL3 nft Project: Since its launch on February 10, 2024, Well3NFT has risen to become the largest nft collection on the opBNB chain, with over 324,000 owners and 8 million nfts created as of April 27, 2024.
- Proceedings: 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 scalable, multi-chain ecosystem, improving the overall functionality and reach of WELL3’s offerings.
Main Features of WELL3
In short, WELL3 is taking a new approach to health data management within the DePIN framework.
- Data decentralization: Health data is securely processed 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.
- Rewarding Wearables for Greater Wellbeing: WELL3 introduces a line of wearables, starting with a smart ring equipped with sensors and algorithms that provides a comprehensive view of a person’s health. Users can earn WELL tokens through active participation and consent 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 have a stake in the governance and continued development of the platform.
- Complete ownership of personal data: By leveraging WELL3's DePIN and DID technologies, users have complete ownership over their personal information and data, and are also protected from 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 multiple 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 into multiple platforms and services, WELL ID eliminates the need for multiple passwords and redundant verification processes. WELL ID offers a unified identity solution that simplifies digital interactions and improves security.
What is WELL token? And what does it do?
The WELL token acts as a utility and governance token within the WELL3 network. It powers a network of healthcare ecosystem partners and their users, and operates across all Layer 1 (L1) and Layer 2 (L2) chains.
More specifically, the following are the use cases for the WELL token in the WELL3 ecosystem:
- Supports the WELL3 ecosystem such as DePIN ecosystem rewards, health data sharing, and activity-based incentives.
- As a reward for contributing to the WELL3 decentralized network
- Identity creation and decentralized identification management through WELL ID
- Act as a currency for both digital and physical purchases in the WELL3 ecosystem
The distribution of the WELL token is as follows:
- Maximum supply: 42,000,000,000
- 71% of tokens to community initiatives
- Lock: The unlock schedule is spread over different time periods to align long-term interests and promote stability. WELL will be unlocked over the course of 24 months depending on the Token Release Schedule.
Conclusion
WELL3 is bringing advanced technology to health and wellness, focusing on secure, data-driven approaches. Using DePIN, DID, and ai, WELL3 aims to deliver personalized health solutions while ensuring data security and user engagement.
