StormX is a blockchain-based rewards platform that enables users to earn cryptocurrency rewards through shopping at partner stores and completing microtasks. It operates on the Ethereum blockchain and uses the STMX token as its native currency.
StormX integrates with various e-commerce platforms to offer cashback in cryptocurrency for purchases made at participating stores. Users can also earn rewards by completing microtasks such as surveys, watching videos, and playing games. The platform provides a non-custodial wallet, giving users full control over their cryptocurrencies. It also features staking and governance mechanisms that allow users to earn interest on STMX tokens and participate in community voting.
StormX's potential use cases include:
Founded in 2015 by Simon Yu and Calvin Hsieh, StormX initially started as a platform for completing micro-tasks for non-crypto rewards. It evolved to integrate cryptocurrency rewards via a successful ICO in 2017, raising $32 million. The platform underwent a significant token swap from STORM to STMX in 2020 to improve security. StormX has also expanded its offerings to include a debit card and has formed partnerships with major entities, including the NBA's Portland Trail Blazers.