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StormX staking is finally going live!

Simon Yu
· 2 min read

StormX staking is finally going live! DeFi Integrations here we come!

We’re excited to announce the StormX staking platform will be live on November 27, 7pm GMT.

You can check out the live countdown timer from our website at https://stormx.io.

StormX has already created one of the best crypto cashback platforms allowing users to earn Bitcoin, Ethereum, Litecoin, MakerDao, Yearn Finance, or StormX by shopping from over 700 stores globally, including eBay, Nike, NewEgg, Walmart, AliExpress, and many more.

StormX (STMX) token holders are already able to receive awesome benefits such as cashback bonuses of up to 250% and faster withdrawal times. However, token holders can now add weekly staking rewards to the list!

We’ve laid out some questions you might have.

What is the starting APY?

The starting rate will be set at 50% p.a. and will decrease over time. The earliest members who stake will receive the highest benefits so be sure to sign up as soon as possible!

What do I need in order to receive the staking rewards?

There are two requirements in order to get you ready to stake, and also for you to be able to receive your rewards.

1. You must download our iOS, Android, or Chrome button to stake. All you need is an email address and a wallet like MetaMask to get started. It’s that easy!

2. You will need to upgrade your rewards membership to our bronze tier. All users start on purple, and to upgrade you will need to hold 3000 STMX which can be purchased via the methods shown on the rewards tab on either the iOS/Android app or the Chrome button.

Who holds custody of the STMX tokens?

Users connect their own web3 wallet such as MetaMask or Trust Wallet to the staking contract, we do not control the private keys and allow our users to hold custody of their own crypto. Decentralization is the key, and we want to offer our users the comfort of knowing their crypto belongs to them.

When are Staking Rewards Sent?

Staking rewards are sent once a week on Sundays at midnight (GMT +0) for users that have successfully staked their tokens. The tokens are credited to the user’s StormX account where they can withdraw into their wallet.

What happens if I Unstake Before the Weekly Rewards are Sent?

If you unstake before the weekly reward period, you will not receive the reward for that week. You’ll also be unable to stake until the following week so try not to unstake often.

What other benefits do I get other than staking?

By staking your STMX tokens, you will also be upgraded within the app to Bronze, Silver, Gold, Platinum, or Diamond tiers depending on how many tokens you have staked allowing you to earn up to 250% Crypto Cash Back bonus rewards and faster withdrawals from your shopping purchases.

How do I get STMX tokens?

You can earn STMX tokens through the StormX app or buy them from our partner exchanges such as Binance, Bittrex, Upbit, or Voyager (available in the US).

Refer your friends!

You can also earn up to $1,000 in STMX tokens for getting your friends to join the Rewards Program! You can read more about it here.

Simon Yu
CEO & Co-Founder, StormX.

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