What Is STORMx (STMX)?

STORMx is an app and a chrome extension. Extensions are software programs that are built on web technologies such as HTML. With the STORMx extension, users can customize the Chrome browsing experience. STORMx claims to allow users to get cryptocurrency in many ways. Whether users are shopping, completing tasks, or staking existing STMX tokens (earlier STORM tokens), users can get the cryptocurrency at every step of the way. 

The whitepaper states that in the current freelancer market industries charge up to 40% in transaction fees. The problem with the current system is that there are too many middlemen involved. Consequently, the services become expensive and inefficient. STORMx seeks to solve this contemporary problem by integrating blockchain technology with the micro-task application BitMaker. 

STORMx envisions operating the Storm Market as a decentralized platform. The Storm market is a user portal into STORMx’s existing micro-task marketplace. In this Storm Market, anyone is able to offer or get engaged in tasks. STORMx aims to provide three distinct categories of tasks: 

1. Freelance labor such as micro-tasks and QA testing; 

2. Promotional user engagement; 

3. Opportunities for shopping where users can use STMX tokens. 

The StormX members can use the crypto app or the Chrome button while purchasing stuff online. The Chrome button claims to operate seamlessly in the background. STORM tokens were ERC20-compliant tokens that ran on Ethereum-based smart contracts. StormX did a token swap and changed to STMX. The transfer of digital tokens from one blockchain into another is called a token swap.  

History of STORMx (STMX)

The CEO and cofounder of STORMx is Simon Yu. The CTO and another cofounder is Calvin Hsieh. In 2017, StormX originally minted 10 billion STORM tokens. StormX changed the ticker name from STORM to STMX in the summer of 2020. The new smart contract is claimed to have improved security and also allows members to stake STMX tokens to earn rewards.