StormX Rewards Launch

Simon Yu
· 2 min read

We’re excited to announce what is probably our biggest update yet:

StormX Rewards.

Storm token holders can now earn up to 87.5% crypto back on your purchases from StormShop.

Yes, you read that right. 87.5% crypto back.

Stores like eBay will give you the opportunity to earn up to 21% crypto back. The rewards program will also give you unbelievable rates from other top tier shops like Walmart, Target, Microsoft, Samsung, NewEgg, and 500+ stores.

The more Storm you own, the more crypto back you can earn.

Tier Structure

Bronze — 3,000 Storm Tokens

Silver — 31,000 Storm Tokens

Gold — 310,000 Storm Tokens

Platinum — 3,100,000 Storm Tokens

Diamond — 6,200,000 Storm Tokens

NOT YOUR KEYS, NOT YOUR WALLET

Unlike most centralized companies, we do not need to have custody of the crypto you hold for the rewards program. This is where the beauty of blockchain and decentralization comes in. We can simply verify your wallets through Trust Wallet, Opera Touch or any Web3 Wallet that supports Storm tokens.

Lessons learned from 2017–2018

In early 2017, Bitcoin transaction costs increased significantly, from near zero to 50 cents overnight, due to increased popularity. We ended up pivoting to Ethereum to only have the same problem again when Ethereum jumped from $10 to $400 in a short period of time, making gas costs expensive.

As a result, we decided to tokenize our company by creating a patented off/on chain technology to facilitate micro-transactions efficiently to become the token for earnings. However, like most tokenized companies in the 2017–2018 era of wanting to become the token for “X”, we were a bit ambitious on our goals.

While we had lots of users receiving Storm tokens on one hand, it was difficult for the companies we work with to make transactions using Storm tokens. Onboarding and offboarding fiat solutions became a challenge and it was difficult for companies to make transactions with Storm tokens because they had to use multiple exchanges to buy Bitcoin, convert it to Storm, then send it to users which became a pain point.

We learned a lot and spent quite a bit of time redesigning our token economics to have our token be more useful with our products. We’re excited as our token holders can now receive the best benefits of our products, aligning the two more closely.

Smart Contract Update & Staking Rewards will come next

Our team is currently busy working on a smart contract upgrade. Once completed, your tokens held in your accounts will be eligible for additional staking rewards in addition to the high crypto back rewards.

Why our vision matters the most now

From the inception of our company, our focus has been to build a platform where users can earn. In 2014, we learned there was no single platform where users can easily earn online. Through blockchain technology, we discovered we can send value to users anywhere across the world, no matter where they lived, for fractions of a penny.

The ability to earn more money, whether it’s through micro tasks or shopping, will become more important than ever as it becomes more of a necessity than a hobby over the next few years.

As always thank you for supporting StormX and we look forward to 2020 with you all.


Earn Crypto while you shop!

StormX (iOS) StormX (Android) StormX (Chrome Extension)
Keep reading