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Gibraltar, Dec 17, 2024/PRNewswire/ – EARN’M, the mobile finance (MobileFI) and decentralized physical infrastructure networks (DePIN) rewards ecosystem, has announced the launch of the world’s first Initial Merge Offering (IMO). This innovative initiative, set to take place one month after the Token Generation Event (TGE) on December 19, 2024, is a collaboration with the Web3 cashback platform StormX.
The IMO marks a significant step in Web3 consolidation, uniting two successful projects to foster mutual growth in the rapidly evolving blockchain and crypto rewards landscape. The merger is designed to streamline operations and unite communities, liquidity, technology, and distribution for EARN’M and StormX.
Simon Yu, founder of StormX, commented on the IMO’s historic nature: “This is the first IMO in history, and we’re proud to be leading the charge. This vehicle will become commonplace as powerful projects come together in the Web3 space.”
Key Details of the IMO
– Token Exchange: STMX token holders can exchange their tokens for EARNM tokens at a ratio determined after the first month of trading. The exchange rate will be based on both projects’ average fully diluted valuation (FDV) during that period. The offer applies to all unlocked STMX tokens, allowing users to transition their holdings to the new EARNM token.
– Staking Incentives: To incentivize participation in the IMO, EARN’M is offering up to 250% annual percentage yield (APY) for staking its native token during the IMO period, encouraging strong community engagement.
– Strategic Focus: Both projects aim to optimize operations in the rewards and loyalty space. The consolidation aims to expand opportunities for their communities, leveraging both platforms’ strengths to enhance users’ value.
Background and Significance
EARN’M’s MobileFI ecosystem has seen impressive growth, turning smartphones into ‘EarnPhones’ and engaging over 45 million users globally. The platform has facilitated more than $350 million in user earnings and savings. In 2023, Deloitte ranked EARN’M as North America’s fastest-growing software company, with a 32,481% revenue growth over three years.
StormX, a Binance-listed company, has led the Web3 cashback space since 2017. Known for its strong Asian presence, StormX allows users to earn cryptocurrency as cashback while shopping online. The company’s $STMX token facilitates rewards, and users can stake tokens for additional benefits and discounts.
Gastón Klanian, General Manager of EARN’M, emphasized the IMO’s broader impact, saying, “Consolidation happens to every emerging industry, and we’re excited to finally bring this to market and set a new precedent as Web3 continues to mature.”
The Future of Web3 Consolidation
The IMO represents a strategic move to address fragmentation within the Web3 ecosystem, where rapid expansion can sometimes lead to community fragmentation and diluted impact. By merging, EARN’M and StormX aim to strengthen their networks, drive innovation, and ensure sustainable growth. This merger is part of a broader trend in Web3, where projects are looking to consolidate resources and increase their collective influence.
As Web3 continues to mature, initiatives like the IMO are expected to play a pivotal role in shaping the future of blockchain technology and decentralized finance.
About EARN’M
EARN’M is a leading rewards ecosystem integrating mobile technology with decentralized finance. With over 45 million users, EARN’M allows users to earn and save through its MobileFI and DePIN platforms. The company has been recognized for its rapid growth, achieving a 32,481% increase in revenue over three years.
For more information about EARN’M, please visit: Website
About StormX
StormX has been a pioneer in the Web3 cashback space since 2017, allowing users to earn cryptocurrency rewards while shopping online. Its $STMX token is at the core of its ecosystem, facilitating cashback rewards and staking benefits.
For more information about StormX, please visit: Website
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