If you follow us on Twitter, you might have seen a recent poll regarding a change to our logo. We’ve decided to re-brand our mobile app and our browser extension into StormX, and with the help of your input, we have also decided on a brand-new logo. We want to thank everyone who voted on social media! This is a team effort and we couldn’t have done it without you! 🤩
Executing on the White Paper Vision
The new StormX brand solidifies our original vision of a single, go-to app with the mission to “Earn anywhere, anytime, from any device”. Our goal since the very start has been to empower users around the world and increase their earning potential using the power of blockchain. Our white paper focused on three main products — Play, Shop, and Gigs. With the launch of the Shop feature late last year, we are now two-thirds of the way to our final goal. Read more about our Shop feature launch here.
Not only does this re-brand change our platform names, but it also changes our token. Very soon you’ll all become holders of the new StormX token (STMX), rather than STORM. These StormX tokens will automatically work with our newly launched Rewards program where users can earn additional perks when they hold our token.
Launching Automated Staking Rewards
With our updated Smart Contract, we’ve also made it so that users can earn additional rewards through staking. The staking can be done through the user’s own wallet and won’t require us to have custody. This is a great solution that utilizes the decentralized aspect of blockchain by allowing users to earn rewards by holding their own tokens.
Finally, we listened to the community and have removed “god mode” meaning no one is able to print or destroy tokens even if someone were to hack the contract. This makes the contract even more secure.
Transition & Timeline
The new StormX token does not have a release date yet, but it will be happening very soon so stay tuned. We’ve partnered with Quantstamp, the best smart contract auditor in the business, to create the contract and have created a seamless way to swap the tokens when the time comes. You’ll be able to swap using gas fees paid in ETH. Not to worry, the community will have ample time to make the switch and there is no action required on your part at this time.
We will be working with some of our top exchange partners as well to make this process as seamless as possible to our community.
Leaderboard & Native Language Support
We’ve also put in place a leaderboard where users can see their all-time accrued bolts and see how they compare to all of our other users. We love a good competition and hope that this gives you a little more drive to earn more. Seeing as our leaderboard has no geographic boundaries, we are also continuously working to make StormX accessible to our users across the globe. So far, we’ve launched the Shop feature internationally and have released translated versions of the app for our users who prefer Korean or Portuguese. To see how to change the in-app language, read this article.
Massive Growth in Shopping
This year, we’ve seen HUGE growth with Shop feature on StormX. However slow or small it may have been, we’ve always seen growth in the Shop feature since its inception. In the past month, the unique users on the Shop feature have continued to grow quickly. This growth can be attributed to the launch of the Shop feature on our mobile app as well as our international launch. With the toll that COVID-19 has placed on economies around the world, it has now become more of a necessity to earn when you shop and we are honored that our users are choosing us to do so.
StormX Rewards — Offering the Highest Cash Back
If you’ve been following our updates, you’re probably aware of our effort to improve our token utility. With the launch of StormX Rewards, we were able to create the best of both worlds by allowing our token holders to receive the best benefits of our app. Our highest level “Diamond” users can earn up to 87.5% crypto back from some of our top stores.
As part of our upgrade, users who hold Storm tokens will receive extra crypto back and additional benefits. The more Storm tokens you own and hold, the more your account will be upgraded to higher tiers, giving you more perks. This feature is only possible because we have our own token and we’re able to offer much higher crypto back than any of our competitors.
Stack Earnings for Higher Rewards
Now in addition to the higher crypto back from the StormX Rewards, we will be able to reward users even more crypto through staking from our new smart contract.
(Example: Earn 6% crypto back from eBay and an additional 6% crypto back for owning Storm tokens, and stake your entire balance to accrue more each month).
By stacking the rewards together, we can allow users to earn much higher cashback than any of our competitor platforms. The best part about this is that users can control their own rewards through their own wallets. We do not need to hold custody which creates a decentralized solution with the best benefits.
A Bright 2020 for StormX
We’ve already accomplished so much in 2020, but we are so excited about all the future milestones our team will hit this year. In the upcoming months you will see the following updates:
- In-app token purchasing
- New StormX Token released with staking added to our rewards program
- More big, global brands
We’ve already massively improved the discovery UX for shops/offers in our last update and in our most immediate engineering sprint, we are reducing our backlog of technical debt. Once the technical debt is resolved we can expect better performance and fewer bugs going forward.
Lastly, a reminder that we are deprecating SMS login for a more seamless email login. Many users have been asking for this due to issues receiving the SMS code and also because of the desire for phone number privacy. Moving forward, login options will be via email, Facebook, or Google.
Thank you again to our supportive community. None of this could be done without you!