EARN’M Unveils Industry-First Initial Merge Offering (IMO) in Collaboration with StormX
Gibraltar, Gibraltar, December 17th, 2024, Chainwire
EARN’M, the MobileFI and DePIN rewards ecosystem, announces the world’s first-ever Initial Merge Offering (IMO), set to take place one month after its Token Generation Event (TGE) on December 19th. In collaboration with StormX, this IMO marks a transformative step in Web3 consolidation.
EARN’M is a MobileFI and DePIN rewards ecosystem that turns smartphones into EarnPhones. The team behind EARN’M, Mode Mobile, was ranked #1 by Deloitte as North America’s fastest-growing software company in 2023, achieving 32,481% revenue growth rate over a 3-year period.
The pre-IMO collaboration showcases the metrics for EARN’M, including:
- $70M+ in combined Web2 and Web3 revenue.
- 45M+ community userbase.
- $350M earned and saved by users.
StormX is a Binance-listed project that has been operating in the cashback space since early 2017. With a strong Asian trader community and as the top Web3 cashback player, they have achieved over $500M+ daily volume and high liquidity from the top spot and perps exchanges in the World.
True Web3 Consolidation
The goal of the merger is to bring two solid projects together for mutual benefit of both organizations. Web3’s rapid expansion often fragments communities and weakens the ecosystem’s collective impact. Consolidation through IMOs introduces sustainable growth by merging efforts across liquidity, community, technology, and distribution. This strategy strengthens networks, accelerates innovation, and ensures long-term viability in a fast-evolving landscape. The IMO will allow StormX and EARN’M to grow together on a common mission and being the leader in Web3 rewards.
“This is the first IMO in history and we’re proud to be leading the charge. We think that this vehicle will become commonplace as powerful projects come together in the Web3 space,” said Simon Yu, Founder of StormX.
“We’ve known the StormX team for over seven years and have been ideating on this concept for a very long time,” said Dan Novaes, EARN’M Founder.
“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,” added Gastón Klanian, General Manager of EARN’M.
About the IMO
The merger will allow STMX token holders to exchange their tokens for EARNM tokens at a ratio determined after the first month of trading, based on the average fully diluted valuation (FDV) of both projects during that period. For more information on the rate, users can visit their website. This exchange will apply to all unlocked STMX tokens, giving users the option to fully transition their holdings to the new EARNM token. This initiative represents a strategic move aimed at combining the strengths and technologies of both platforms to deliver enhanced value to their users.
The merger is centered on expanding opportunities in the rewards and loyalty space, an area of focus for both companies. By merging, StormX and EARNM intend to optimize their operations and introduce more innovative solutions to benefit their communities.
To incentivize participation, EARN’M is offering up to 250% APY for staking its native token during the IMO period. This effort ensures strong engagement and rewards for its growing community.
About EARN’M
EARN’M is at the forefront of mobile innovation, with a community of over 45 million users who have collectively earned and saved over $350 million. The team behind EARN’M has been recognized as Deloitte’s Fast 500 #1 Fastest Growing Software Company in North America, achieving 32,481% revenue growth, surpassing notable companies in the Web3 space.
About StormX
As a pioneer in the Web3 cashback space, StormX has been at the forefront of crypto rewards since 2017, empowering users to earn cryptocurrency while shopping online. At the core of this ecosystem is the $STMX token, which facilitates cashback rewards and allows users to stake for additional benefits and exclusive discounts across thousands of global retailers.
