The StormX Roadmap | Q4 2021 - Q1 2022

Matthew Chuen
· 5 min read
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Hey Stormers!

With the governance token, the US debit card roll-out, and amped-up marketing efforts in the works, there’s a lot to look forward to. We're kicking this off by sharing the StormX Roadmap for Q4 2021 & Q1 2022. So, without further delay - here's what's planned for the coming months.

Q4 2021

VIP Customer Support

StormX is always looking to improve our customer experience for our most active users. We are excited to announce for our platinum, diamond, and high volume shop users we will grant you access to a direct line to the StormX team including Simon, the CEO to receive expedited support!

Gas Fees

We are aware that the current gas fees estimates are the pain point of staking your hard-earned $STMX. Gas estimates have sometimes been too high or too low causing some users to miss out on staking. The root cause of this issue is two-fold. Firstly, Ethereum gas fees have skyrocketed due to increasing chain activity. This is out of our control and we are eagerly awaiting the release of more mature L2s like Optimistic and zkRollups on Mainnet to lower gas fees. Secondly, metamask was having issues estimating gas fees correctly due to the sheer complexity of estimating fees. Thankfully, how Ethereum calculates gas fees was changed with the release of EIP-1559. MetaMask is now better able to estimate gas fees correctly.

With that said we are updating our staking dApp immediately to conform to MetaMask so that gas fee estimates are much more accurate.

Q1 2022

Launch Governance Token

Governance is almost here! As you may know, a few months back we got our community to Yay or Nay our governance token proposal. With the approval of 95.63% of voters, we set to work, starting the project. For more details on eligibility and the ins and outs of the new token head over here.

Power users of the StormX platform will be able to claim their governance tokens when we launch. The snapshot cutoff date for being an eligible power user is being moved to January so more users can receive governance tokens for completing actions such as shopping, staking and more.

If you have your StormX tokens on an exchange you may want to move your tokens to a connected StormX wallet so you can stake $STMX and be eligible for receiving more governance tokens at launch.

We’re also going to announce the name of our token next week! So watch out for that.

KuCoin and More Exchange Wallet Integrations

Connecting your wallet to your account is a crucial step in making the most out of StormX. For this reason, we believe it’s important for our users to have a wide variety of wallets to choose from. Not only will this make StormX even more accessible to new users, but it will also allow you to have more choices when deciding as to where to store your $STMX and help create easier fiat onramps for users globally, and in the US.

Furthermore, we are well aware of the friction caused by high gas fees on the Ethereum network. Our first action to mitigate this is adding a wallet integration with our friends at KuCoin, which will allow users to buy and hold STMX, receive membership benefits, and avoid the high gas fees associated with transferring to Metamask or other 3rd party wallets. After KuCoin, we will continue adding more integrations with top exchanges, so that StormX users can continue maximizing the value of their STMX holdings. If you’re eager to get onto KuCoin already, feel free to check them out here.

Shop Tracking 2.0

We pride ourselves on being able to provide you with a seamless experience when shopping online. However, when working with as many merchants as we do, there are times where we lose tracking on orders. We aim to provide you all with as smooth an experience as possible, that’s why we will be dedicating development time to ensure we eliminate these issues. The first phase of this has already been completed. We’ve re-architected our backend system to be simpler so we can do better on-going root cause analysis of issues. We are also working more directly with account managers at our partner stores to improve existing integrations.

Launch Debit Card

For all of those who have been eagerly anticipating the launch of our debit card, especially those who signed up from our initial announcement, you’ll be glad to know we can now confirm that we are entering the first stages of the US debit card roll-out!

The much anticipated StormX Debit Card will feature extended Crypto Cashback rewards, and allow you to earn up to 15% Crypto Cashback across 15,000+ physical stores.

Fee Structures:

ZERO PIN Transaction fees
ZERO Monthly fees
2% foreign transaction fees

Reward Opportunities:

Up to 5% Crypto Cashback on everyday purchases*
Up to 8% Crypto Cashback on Amazon*
Plus, many more to be announced!

So, more about the rollout. The app will continue its alpha testing into January, with a target date of launching our Beta in February. For our Beta, we will be accepting a small cohort of 1000 users from the top of the waiting list along with key community members to take part. More on this closer to the time.

Our official debit card launch will commence after the close of the Beta.

StormX Checking Accounts

And last, but by no means least (in fact, we saved the best for last😉), we are happy to let you know that your debit card will be receiving a powerup, thanks to the introduction of checking accounts. Soon, users will have the option of depositing cash on to their StormX debit card via an ACH transfer from another checking account.

StormX checking accounts will include all of the features you’ve come to expect from traditional banking accounts, including an ABA routing number, account number, and easy integration with other banking providers. Users will be able to take portions of their paycheck and directly deposit them into their StormX debit card accounts for immediate spending and rewards!

*Terms & Conditions apply

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