Staking Rates Update 🥩

Great news! 📣 The early incentive program for staking has been a smashing success.

We originally launched with 50% p.a. and have been winding down this massive rate on an almost weekly basis. The reason for lowering the rate is obvious :) This is an incentive for early adopters of our utility token STMX which empowers users to earn more when they shop online 🛍

We’ll be continuing the rate change this Sunday January 17th, 2020 at 00:00 midnight GMT +0 (also known as midnight UK time). The next rate is 27.5% and the following week we’ll change it to 20%.

Once we’ve had some time to reassess the treasury burn we’ll be able to find our next staking rate target. So expect another update next month.

In other news, our average hold time for staking STMX is shooting up 🌟.

We’re at 30 days for hold times in the staking program and it looks like it just keeps going up and up. This is fantastic for the community and shows strong confidence in our mission and utility of the StormX products.

Even with the recent market correction where Bitcoin and Ethereum dropped 20%+, stakers of the STMX token held strong 💪 The Total Value Locked, and average hold times stayed the same and began increasing. Again, this shows real use of the STMX token since Rewards Members have to hold in order to increase their Crypto Cash Back on the StormX platform.

StormX has a bright future in 2021 with the explosion of interest in crypto coupled with a huge spike in online shopping from quarantine.

Excited for another great year 🥳

The StormX Team