StormX

StormX (STMX) is a solution based on cryptocurrency that was established in 2015. It is designed to provide users with compensation in crypto for most of their online purchases. This is achieved through a mobile app and browser extension. The platform also allows users to stake the native STMX token to enhance their compensation. StormX has received support from various entities and has developed its product to become a recognized player in the crypto compensation community. The platform is unique in that it is the first crypto compensation solution that allows users to receive compensation and rewards for their fiat purchases.

StormX operates by integrating its blockchain platform with everyday purchases, thereby aiming to bring crypto into the mainstream financial system. The platform extends beyond compensation, capturing the interest of crypto enthusiasts who are looking to receive compensation by staking native tokens and performing everyday tasks. The STMX token allows users to lock staking contracts and receive compensation. With over 750 online stores part of the StormX compensation program, customers can easily accumulate compensation rewards. Some of the online shops provide compensation of up to 87.5% in crypto, which is a high rate for traditional compensation programs.

StormX strives to make crypto more accessible and practical for everyday use. By offering compensation rewards for online purchases, it encourages the use of cryptocurrency in regular transactions. This may contribute to wider adoption of crypto in the mainstream financial system. Additionally, the platform's staking feature allows users to receive compensation, providing an incentive for holding and using the STMX token. This may contribute to increased demand for the token. The platform's integration with over 750 online stores also presents a wide range of use cases, as users can receive crypto compensation from a variety of purchases.

StormX was founded in 2015 by Simon Yu and Calvin Hsieh. Yu, the CEO and co-founder, graduated from the University of Washington in 2014 and participated in a Berkley Blockchain Xcelerator held by the University of California in 2020. Hsieh, the CTO and co-founder, graduated with a degree in computer science and software engineering from the University of Washington and was also part of the Berkley Blockchain Xcelerator. StormX initially launched its token under the ticker STORM. However, in 2020, the company went through a token swap and launched the STMX ticker. As an ERC-20 token, STMX uses Ethereum’s proof-of-stake (PoS) consensus mechanism.