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Meet Well3, the Multichain Framework Transforming Health Data Managementby@welltoken
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5,659 reads

Meet Well3, the Multichain Framework Transforming Health Data Management

by Well3June 27th, 2024
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WELL3 is a pioneering force reshaping health and wellness through Decentralized Physical Infrastructure Network (DePIN) and integrated AI systems. With over 1 million pre-registered users eagerly anticipating its launch, WELL3’s mission is to enhance well-being through secure, data-empowered health journeys.
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Overview

Company: WELL3

Token ticker: $WELL

Blockchain: Multichain

Sector: Decentralized Physical Infrastructure Network

Business Model: a DePIN and AI platform in the wellness industry

(DePIN) and Decentralized Identity (DID)

What does WELL3 do?

WELL3 — a pioneering force reshaping health and wellness through Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID) and integrated AI systems. With over 1 million pre-registered users eagerly anticipating its launch, WELL3’s mission is to enhance well-being through secure, data-empowered health journeys. By leveraging DePIN, blockchain, and AI analytics, WELL3 ensures a personalized user experience that is securely authenticated, while fostering a community where millions unite in their pursuit of well-being. This approach allows users to elevate data ownership and security standards, seamlessly blending AI insights to tailor wellness solutions that align with their vision of a secure and health-conscious future.

Key Milestones and Achievements

The WELL3 community is vibrant and expansive. With their help, WELL3 has achieved numerous record-breaking achievements.


  • Public Sale – In just seven days, the public sale registered a total value locked (TVL) of 15,237.2 ETH or $55M USD. Moreover, over $5 Million was raised through seed round and NFT sales.


  • WELL ID – After the announcement of the launch of WELL3 Ring – a pioneering wearable that converts personal wellness metrics into on-chain data, over 900,000 users have signed up for its corresponding NFT whitelist, and registered on the WELL3 ecosystem.


  • WELL3 NFT project – Since its launch on February 10th, 2024, Well3NFT has rapidly ascended to become the largest NFT collection on the opBNB chain, with over 324,000 owners and 8 million NFTs created by April 27, 2024.


  • $17M transactions have been created on WELL3.


  • WELL3 has established partnerships with leading entities including Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance and Lumoz.


  • Strong strategic alliance – In pursuit of interoperability and a seamless user experience across multichain, WELL3 has formed a strategic alliance with leading chains such as Polygon, Solana, Base, Ton, Avalanche, Arbitrum, BNB Chain, Sei, Algorand, Blast and telos. This collaboration ensures that users benefit from a multichain and scalable ecosystem, enhancing the overall functionality and reach of WELL3’s offerings.

Key features of WELL3

In a nutshell, WELL3 is leading a transformative approach in health data management under 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 user data remains private and secured.


  • Rewarding Wearables for Enhanced Wellness: WELL3 introduces an innovative line of wearables, starting with a smart ring equipped with state-of-art sensors and algorithms that provides a comprehensive view of an individual's health. Users can earn $WELL tokens through active participation and consenting to share their anonymized health data. This token-based ecosystem not only boosts user engagement by rewarding healthy behaviors and data sharing but also ensures that users have a stake in the governance and ongoing development of the platform.


  • Complete ownership over personal data: By leveraging WELL3's DePIN and DID technologies, users not only have complete ownership over their personal information and data, but are also safeguarded against unauthorized access, data breaches, and frauds.


  • Multichain: WELL3’s multichain framework spans multiple blockchain platforms including Bitcoin, Ethereum, Polygon, Solana, Blast, and TON. This broad horizontal coverage allows WELL3 to leverage the strengths of various 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 Across Ecosystems: Designed to seamlessly integrate across various platforms and services, WELL ID eliminates the hassle of multiple passwords and redundant verification processes. Whether it’s accessing health services, participating in wellness programs, or engaging with partner ecosystems, WELL ID provides a unified identity solution that simplifies digital interactions while enhancing security.

What is $WELL token? And what does it do?


The WELL token acts as both a utility and governance token within the WELL3 Network, embodying the core principles of Wellness, Health, and Governance. It powers a dynamic network of health ecosystem partners and their users, functioning seamlessly 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 as DePin Ecosystem Rewards, health data sharing and activity-based incentives.

  • As a reward for contributing to the WELL3’s decentralized network.

  • Identity creation, management, and KYC-as-a-service via DID.

  • Act as a currency for both digital and physical purchases in the WELL3 Ecosystem.


Distribution of the $WELL token is as follows:


  • Max supply: 42,000,000,000
  • 71% of tokens to community initiatives
  • Lock up: The unlock schedule is spread across different timeframes to align long-term interests and promote stability. $WELL will unlock over the course of 24 months per the Token Release Schedule.