What Is StormX?
STMX (formerly STORM) is an ERC-20 token native to the StormX ecosystem, which includes a crypto reward app, as well as a browser extension. The project was founded in 2015 and described as an easy way to earn crypto, even for people who aren’t sure what crypto is. The app lets its users get cashbacks from their purchases in service’s online partner stores, as well as earn rewards for completing microtasks such as taking surveys. The rewards are deposited into the StormX user account in cryptocurrency which then can be moved into a connected wallet. There are several currency options – not only the STMX tokens but also BTC, ETH and several others are available.
Besides being one of the reward currencies, STMX tokens have other use cases within the ecosystem. The StormX membership is multi-tiered, meaning that larger rewards with reduced wait times go to the upper-tier members. To level up, a user just has to hold a certain amount of STMX in a wallet connected to his account. Also, members can stake their STMX tokens to earn additional rewards. Another interesting feature which has been announced in early 2021 is the plan to add debit card functionality, which would hold funds in STMX or other crypto and swap them to fiat at the moment of purchase. This will allow users to spend their rewards more easily.