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ToggleIn the era of the gig economy and rapidly growing cashback shopping, global users are seeking fairer, more transparent solutions with lower fees compared to centralized platforms like Upwork or Rakuten. StormX (STMX) is one of the pioneering projects applying blockchain to solve this problem, transforming online money-making and daily shopping into a truly rewarding experience. What makes this project special? Let's explore with Allinstation!
What is StormX (STMX)?
StormX is a Web3 platform that helps users:
- Earn crypto cashback rewards when shopping online with commercial partners.
- Receive STMX token rewards for completing micro-tasks (surveys, app testing, etc.).
StormX is built on the Ethereum blockchain and operates as a decentralized ecosystem, aiming to reduce intermediary fees and increase transparency in the freelancer and consumer economy.
StormX aims to address issues in the freelance industry, especially micro-tasks. Currently, large companies like Fiverr, TaskRabbit, Upwork, and MTurk have expanded their global networks but are negatively impacting this industry. Freelancers often lose up to 40% of their rewards due to restrictive withdrawal policies and transaction fees on these platforms.
- Automatically trigger cashback when users access partner brand websites.
- Display information about cashback rates and reward times.
- Operates smoothly, similar to utilities like Honey or Rakuten, but with cryptocurrency rewards.
StormX Mobile App (iOS & Android)
- Where users can manage both Cashback & Tasks features.
- Simple, easy-to-use interface, supporting multiple languages.
- Connect electronic wallet, Staking, manage levels and track rewards in a single app.
Overview of STMX Token and Tokenomics
Basic Information
- Token Name: StormX
- Ticker: STMX
- Contract: 0xbe9375c6a420d2eeb258962efb95551a5b722803
- Blockchain: Ethereum
- Token Standard: ERC-20
- Token type: Utility Token
- Total Supply: 12,500,000,000 STMX
- Circulating Supply: 11,000,000,000 STMX
STMX Token Allocation
- 4.17B STMX: Sold in ICO (2017)
- 2.5B STMX: Held by Company
- 2.3B STMX: Locked
- 1B STMX: User & Community Rewards
Token Applications
- Task & Cashback Rewards
- Platform Fee Payment
- Stake to Receive Benefits & Rewards
- Governance (Expected to Expand in the Future)
2025 Roadmap
- Implement multi-chain system (Expand to BNB Chain, Arbitrum…)
- Develop StormX DAO – Community Governance Mechanism
- Expand B2B Task Services for Businesses
- Web3 Collaboration with NFT/GameFi Brands
Project Team, Investors, and Partners
Project Team
StormX currently has a team of global engineers and operations experts, with headquarters in Seattle, USA. Below are the key members:
Simon Yu – CEO & Co-founder
- Originated from the financial sector.
- Has appeared on major media channels like Forbes, CNBC, and Bloomberg.
- Simon has guided StormX's development strategy from MVP stage to millions of global users.
- Previously built fintech startup CakeCodes, the predecessor of StormX.
Calvin Hsieh – CTO & Co-founder
- Technology expert with years of experience building large-scale software systems.
- Responsible for core technology, system architecture, and blockchain integration for StormX.
Andy Kleitsch – CPO
- Strong background in user experience (UX/UI) and digital product development.
- Previously worked at Amazon and top technology companies.
Investors
StormX has gone through 3 major funding rounds, with total capital raised reaching ~$45.75 million, including ICO and private/strategic rounds.
Starting with a successful ICO in late 2017 (11/7 to 12/8/2017), the project raised a total of $30.72 million with a token sale price of $0.0113/STMX. This was one of the standout ICOs at the time, achieving a maximum ROA of up to 21.82x (+2,082%).
After the ICO phase, on 4/13/2021, the project announced a strategic funding round raising $6.03 million. Investors included Plug and Play, Cultur3 Capital, Ohana Northwest, and some notable angel investors like Anthony Yoon, Chun Wang, and Sean (Solme) Kim. This funding round marked the transition from an ICO project to a professional Web3 startup, expanding scale and investment relationships.
On 7/27/2021, StormX completed another funding round worth $9 million, led by Optimista Capital. The successive successful funding rounds in 2021 demonstrated StormX's ability to build significant investor trust, especially in the context of the growing gig economy and cashback model.
Partners
StormX has built an extensive network of commercial and technical partners to expand the application of STMX token and consolidate its position in the crypto market.
Commercial Partners:
- Over 1,000 global brands supporting cashback through StormX such as: Nike, Adidas, eBay, AliExpress, Lenovo, Samsung, Microsoft Store, Agoda, Booking.com…
- These partners are directly integrated through extension or app, helping users receive rewards when shopping.
Web3 Ecosystem Partners:
- Crypto.com: Expanding STMX usage in payments.
- Travala.com: Collaboration in travel and crypto booking.
- Shopping.io: Supporting STMX spending when shopping at Amazon, Walmart…
Technical Partners:
- Quantstamp: Ensuring smart contract security.
- Chainlink (indirectly): StormX has mentioned integrating verification data from oracle.
- MoonPay, Simplex: Supporting on-ramp to buy STMX with fiat.
Summary
StormX (STMX) is a blockchain application project in the cashback and gig economy sector, helping users earn rewards when shopping and completing online tasks transparently, without intermediaries. With over 2.4 million global users, hundreds of commercial partners, and support from major investment funds, StormX is establishing its position in the Web3 space targeting mainstream users.
Despite having a practical application model and an experienced team, STMX is still a Token in the consumer ecosystem, so price fluctuations may be affected by market trends and user behavior. Investors need to carefully consider and closely monitor the roadmap and platform performance before making long-term decisions.
