FIT is the main currency for all In-app transactions on the Calo metaverse. The token operates under the decentralized Binance Smart Chain network and has unlimited supply thus, the metaverse initiates the corresponding dispersal of FIT tokens for every completed challenge by users on the chain. These include result recognition, tokens, currency holding income, and an NFT mining pool based on the Health Mining mechanism where all private keys are recorded to ensure fairness. FIT unlocks and facilitates participation in successive activities on the app platform. The FIT token is burned through Shoe minting, leveling-up sneakers, stone upgrades, and unlocking spaces on the metaverse. The token's several use cases motivate the community to exercise more and earn extra passive income.
A Bit About FIT Token
Tuan Phan and Tri Nguyen co-founded the token as a Game token to reward players and users in the Calo Metaverse. All in-app transactions take place using FIT as the main currency and BNB as gas fees. To participate in Move-to-Earn in the Calo Metaverse, players are required to have NFTs SNEAKER where they subsequently receive FIT tokens and other in-game items to continue participating in the app activities. The Calo metaverse has an In-app marketplace where players can sell, buy, lease, or rent NFT Sneakers. The Sneaker type determines the amount of FIT a player earns. Higher performance from the players guarantees more FIT tokens. To maximize their reward potential, players have to move at the shoes' ideal speed or risk losing profits by up to 90% when they slip out of this range. Players on the Calo metaverse can choose to use their earned FIT tokens in games or cash them out for profit.
The FIT token, like many other Move-to-earn currencies, rewards users on its native platform for engaging in movement activities like running, walking, and other general physical routines. To get started, users must download the Calo metaverse app, which is available for both Android and iOS users. Users will need to create a wallet account and send FIT to the wallet to facilitate payment for NFT Sneakers in the App's marketplace and BNB for transaction gas fees. Sneakers acquired in-app are symbolized as NFTs that can be traded alongside the FIT tokens earned while engaging in the game. Players need the stamina to use NFT Sneakers to earn FIT while moving. The Stamina is replenished throughout the day, generated at a 25% rate every 6hrs after Sneaker purchase. Different quality Sneakers generate different attributes and amounts of FIT ranging between 4 FIT and 6.25 FIT. In Single mode, a larger 'performance' attribute earns players more FIT per Stamina. 1 Stamina is burned after 5 minutes of activity. The more a player engages in the in-app activities, the more rewards they earn.
Utility of FIT Token?
The FIT token is the main currency for all in-app transactions on the Calo metaverse. FIT together with governance token CALO is used to cover shoe minting costs. Users of the Calo Metaverse can upgrade their Sneaker level by burning FIT tokens.
Burning FIT at level 30 allows the classification and customization of Sneakers which comprises changing names, adding citations, and adding attribute points. Burning FIT upgrades users' stones and unlocks new spaces on the metaverse.
Fit is used as a fee to synthesize Mana from Small to Medium and Medium to Large. The FIT token enables players to rent sneakers with 30% going to the renter and 70% to the owner.
The Calo app has an Invite-to-Earn feature where users use unique referral codes to invite friends and get rewarded for each successful referral.
FIT Token Price detailsBSC Contract address: 0x77922A521182a719A48ba650aC2A040269888888
›› Details & Tokenomics
Advantages of FIT Token+ The token encourages healthy living via its move-to-earn mechanism.
+ Users of the FIT token can cash in for profit.
+ Incurs low gas fees while utilizing the token.
+ Facilitates fast transactions while on the Binance Smart Chain.
+ Has a burning mechanism via shoe minting and upgrades.
Disadvantages- It is currently only available on a few exchanges.
- The token is subject to inflation due to its unlimited supply.
- FIT token does not facilitate staking for users to earn rewards.
- A relatively new token under development.
- FIT faces competition from other move-to-earn tokens in the crypto market.
Costs▪ Rated at 9/10
FIT is the main transaction currency on the Calo platform while BNB is used for gas fees. For in-app activities, users are charged a 2% marketplace trading fee and a 4% marketplace Royalty fee. NFT creators earn royalty fees. A 6% tax is charged for sneaker minting and 8% for sneaker renting.
For in-app transfers of FIT tokens from wallet to spending, users pay a gas fee in BNB. Transactions between in-app wallets when transferring sneakers or shoeboxes from spending to wallet require users to pay gas fees plus FIT Tokens depending on the sneaker quality.
Reputation and Buzz▪ Reputation rated at 8/10
▪ Buzz rated at 8.5/10
The FIT token is yet to generate massive buzz from Move-to-Earn fans due to incomplete projects which are key in the Web3 sector. The token still has the potential to claim a major position in the Move-to-Earn industry as the Calo Run app gains traction and more users.
Who is the founder of FIT Token (FIT)?
Tuan Phan and Tri Nguyen founded the FIT token together with the Calo Run app.
Does FIT Token run on its native blockchain?
FIT is an ERC-20 token based on the Binance Smart Chain network.
What is the total supply of the FIT Token (FIT)?
The FIT Token has an unlimited market supply.
History of FIT Token
November 2021- Calo metaverse introduces FAT tokens as an entrance ticket for all its activities. Users earn these tokens with the number of calories they burn as proof of their hard work.
December 2021- Calo metaverse introduces Carlo Vault where users can generate revenue and demand FAT tokens to enter Calo's challenges. The revenue is redistributed to various sources.
April 2022- Calo Metaverse releases its official whitepaper detailing the utility of the FIT token as a Game token.
May 2022- Calo metaverse officially launches a new version with a token name update from FAT token to FIT token together with in-app updates on the marketplace, NFTs sneakers, and on-chain wallet. The FIT token receives a listing on Pancakeswap with a listing price of $0.02 and its contract address is revealed as 0x77922A521182a719A48ba650aC2A040269888888
August 2022 - Calo App officially launches Caloverse - an ecosystem in Calo Metaverse’s Quantum Realm that focuses on projects like Calo Run, which improve Public Health and develop a healthy lifestyle. Players on the Calo Run universe engage in outdoor activities such as walking and jogging while getting rewarded with FIT tokens.
January 2023 - Calo metaverse and Kappa Vietnam form a strategic partnership to release a limited NFTs Sneaker. Players can buy, sell, lease Sneakers, and engage in physical activities to capture rewards and income. This marks the first move-to-earn project and sports brand partnership in Vietnam.