The first Storm Loyalty Program Bonus Event payments were sent out today.
Hi, Storm Community:
The first batch of Storm Loyalty Program Bonus have been sent out today. It has been a long grinding road since January 2018 by the Storm team to get the Storm Loyalty Bonus payments absolutely right — from the approach and methodology, the testing, the calculations, to the complicated international compliance and tax process that was deployed. It’s been a highly complex and detailed project — and worth quite a lot of Storm Tokens. Over 320 million Storm Tokens are part of this first Storm Loyalty Program Bonus Event, in fact.
And thanks to the incredible hard work of the Storm team, we did it the right way. Simon and I are very proud of the amazing work being done day in and day out. We would especially thanks to Reo, Sean, Shane, Mollie, Jason, Perry, Jon, Madison, Anna, Maria, and our other cofounder, Calvin. This would not have been possible without all of your many hours and late nights. This was the effort of the entire company.
Details about the first Loyalty Bonus Event process:
Basic Qualifications from the Storm Token crowdsale: To be qualified for the bonus event, there was basic criteria for qualification, 1) a participant in the original genesis Storm token crowdsale (or presale) which happened November 7, 2017 to December 7, 2017, or 2) a user of our Storm Play app with an eligible Storm wallet registered in the application before December 12, 2017. For more details, read the original blog post.
Other detailed requirements to qualify:
There were other detailed qualifiers for wallets to be eligible for the Storm Loyalty Bonus, which were naturally included in the qualification process. For transparency, the detailed requirements included:
- Must be an ERC-20 compatible wallet
- Must NOT be an exchange wallet
- Must not have accepted a payment by StormX (because then that would mean the wallet was not full of genesis Storm tokens purchased or earned in our Storm app, per the original qualification requirement). This would mean that any wallet that has a transaction from StormX, Inc. or StormX Global SEZC, Inc. is not qualified because that meant the wallet was either for an advisor, partner, investor or an employee. Most of the people who were paid by StormX are not qualified.
- Wallets that made a 0 Storm token transaction to another wallet are considered qualified and valid (0 Storm tokens being transferred from Wallet A to Wallet B). (Reminder, disqualification is still possible if there were any genesis tokens that were sent out of the initial genesis wallet.)
- Wallets that made a Storm token transaction of any amount to their own wallet are considered qualified and valid (1 Storm token went from Wallet A to Wallet A)
Categories of users in the first Storm Loyalty Program Bonus Event:
There were multiple categories of users that were managed in the calculation for the first Storm Loyalty Program Bonus Event.
- Storm Play users: Date starts at end of Crowdsale (December 7, 2017). People that registered a qualifying wallet in the Storm Play application, which includes wallets with 0 token balance
- Crowdsale participants: Date starts at end of Crowdsale (December 7, 2017) and includes wallets with 0 token balance
- Presale participants: Date starts at the time the transaction was received from StormX.
- People that participated with Qtum: Date starts at the later of the end of Crowdsale or their transaction date (December 7, 2017 or later date of transaction)
- People that participated in the Storm token crowdsale and also the Storm Bounty Program (Bounty was June 2017 to December 2017). Some bounty participants were allowed. Any wallets with bounty payments that had transactions out were disqualified per the basic qualification rules.
Note on what was not allowed:
A couple scenarios were also not possible with this first Storm Loyalty Bonus Event and included:
- No partial payments per wallet were allowed.
- Any supporters from any listed OFAC country was not included.
Remember, as most of the Storm team is made up of U.S. citizens, we do everything we can to follow all the laws, rules, policies and taxes. Storm is here for the long game and to build the future.
Storm is all about 1) quality over quantity, 2) the long term plan and 3) a real product with real users and real customers. The Storm Loyalty Program Bonus Events #2–4 will have a required registration and verification review process (similar to the one that Storm used for the Storm token crowdsale, which for example, required a valid national ID.)
Noteworthy facts about the Storm token:
The Storm Token smart contract was created on November 6, 2017.
- Block: 4499859
- Date: November 6, 2017
At the end of the Token Crowdsale, the transfers lock was lifted from the Storm Token smart contract.
- Block: 4694166
- Date: December 7, 2017
All measured, the first Storm Loyalty Program Bonus event calculation time ended when we closed Bonus Event #1 on June 7, 2018.
- Block: 5746408
- Date: June 7th 12:01:09 am PST (7:01:09 am UTC), which was the closest time to 12:01 am PST.
As always, the Storm team is here to serve and build the future of advancement with the Storm platform. This is truly about the ability to “earn anywhere, anytime, from any device”.
Arry Yu, COO of Storm
PS if you haven’t already, please download the Storm app (Android).
PSS Or we also have the Storm iOS Beta out. iOS users, you can sign up for the Storm iOS Beta here.