Established in 2015, StormX stands out as one of the earliest global platforms leveraging cryptocurrency to serve international markets. Operating through a mobile application and a browser extension, the project aims to provide users with crypto cashback on the majority of their online shopping. It has secured enterprise collaborations with major brands such as Samsung, Nike, and Lego. Additionally, StormX enables users to stake its native STMX token to increase their reward earnings.

The venture has drawn funding from entities including Blockfolio, the Litecoin Foundation, and Kyber Network. Having successfully built its product, StormX has emerged as a leading figure within the crypto cashback sector. The platform also draws user interest by providing cashback rates reaching up to 87.5% on select purchases.

StormX was co-founded by Simon Yu and Calvin Hsieh.

Simon Yu serves as the CEO. He earned his degree from the University of Washington in 2014 and later joined the Berkley Blockchain Xcelerator at the University of California in 2020. Before graduating, he started Penguin Delivery, a venture focused on bringing Korean barbecue tacos to campus students. Following graduation, Yu worked as a financial analyst intern at Amazon and subsequently as a senior credit risk analyst at KeyBank. He established StormX with his team in 2015.

Calvin Hsieh is the CTO and co-founder. He holds a computer science and software engineering degree from the University of Washington and also participated in the 2020 Berkley Blockchain Xcelerator. In April 2015, Hsieh took on roles as a manager and web developer at Bomba Fusion LLC, eventually becoming a co-owner in 2017. He co-founded StormX alongside Simon Yu in 2015.

StormX stands out as the initial crypto cashback service enabling users to gain rewards and cashback on fiat spending. By linking its blockchain infrastructure with daily consumer transactions, it effectively brings cryptocurrency into the broader financial mainstream.

Beyond simple cashback, the platform appeals to crypto fans seeking higher profits through staking native tokens and completing routine tasks. The STMX token permits users to engage in staking contracts to generate interest on their holdings. With a network of more than 750 online retailers, shoppers can accumulate cashback rewards easily. Furthermore, certain participating stores provide crypto cashback rates reaching up to 87.5%, a level unseen in conventional cashback schemes. Additionally, StormX has drawn interest from major industry figures and raised over $30 million in capital.

STMX has a total supply of 10 billion tokens, with a current circulating supply of 8,412,333,047 STMX.

According to the official whitepaper, a quarter of the total token supply was distributed to the company and founding team members. Another 23% of STMX tokens remain locked for platform utilization and support. More than 40% of the total token supply was distributed among several crowdsale events. Lastly, about 10% of the total supply was distributed among users.

StormX initially launched its token under the ticker STORM. However, in 2020, the company went through a token swap and launched the STMX ticker.

STMX operates as an ERC-20 token, meaning its security is derived from Ethereum’s proof-of-stake (PoS) consensus model. In this system, stakeholders serve as transaction validators, a approach that stands in contrast to the proof-of-work (PoW) method employed by Bitcoin.

PoS is highly adaptable because it avoids the heavy electrical and computational demands characteristic of PoW. Furthermore, being an ERC-20 token allows STMX to be broadly distributed and traded. Tokens built on Ethereum can also be incorporated into smart contracts and DApps within the Ethereum blockchain ecosystem.

StormX has been a recognized cashback app since 2015, earning it a prominent spot within the crypto community. Consequently, the STMX token is listed on many different exchanges.

Binance is one platform where you can buy STMX tokens. Additional exchanges that support STMX include: