Bitcoin News and Finance
Damex Releases in-App Utility Token Damex Token, Enables Users to Earn Rewards for Staking Tokens Skip to main content

Damex Releases in-App Utility Token Damex Token, Enables Users to Earn Rewards for Staking Tokens

PRESS RELEASE. WATERPORT PLACE, GIB., March 20th, 2023 – Digital Asset Management Limited and the Damex group (“Damex” or “Damex.io”)), a Distributed Ledger Technology provider based in Gibraltar, recently announced its utility token IEO, the Damex Token ($DAMEX), which can be used within the Damex App along with other non-fungible tokens (NFTs), to earn rewards for adopting a healthier and more active lifestyle.

Damex announced its token IEO for 19th April. Its utility went live and was tested during the Q1 of 2023, with future developments for both the Damex Token and the Damex App slated throughout the year. The total supply is 370 million Damex Tokens.

The goal of these new offerings by Damex is to encourage users to become healthier individuals while, at the same time, educating them about cryptocurrency and promoting environmental sustainability.

What can users gain in exchange for staking Damex Tokens?

For instance, when a user stakes 5,000 Damex Tokens, they can get access to a VIP Premium membership, as well as enjoy zero exchange fees while using the Damex App. Premium Subscription members can enjoy benefits such as:

  • Access to top-tier exercise challenges
  • Get a premium member card
  • Unlock cash-back incentives on all tiers
  • Get early access to new Damex features

During its first round of private sales (Q4 2022) for the Damex Tokens, Damex raised $3 million. During its second private sale (Q1 2023), Damex raised $1 million.

The core Damex Tokens will be created on Ethereum and will then be bridged to other blockchain protocols such as Solana and BSC. Aside from being used for staking and rewards, the Damex Token will allow users to vote on key features within the Damex ecosystem and key features, including Damex Token listing and Damex App features.

Damex also introduces its Buy Back and Burn Programme, where 20% of the profits will be used to purchase the Damex native tokens off the market. The tokens will either be burned or used as incentives for users.

Users can earn rewards when they complete challenges, which will change every three months. Furthermore, the NFT rewards will vary monthly. For example, if a user completes the Marathon challenge with a step goal of 60,000 steps, which is equivalent to the London Marathon, they can receive standard rewards such as 0.10% cash back and 10% off exchange fees. Premium Members can receive 0.15% cash back, while VIP Premium members (5,000 Damex Tokens) can receive rewards, such as 0.2% cash back, free NFT airdrops, and zero exchange fees on the Damex platform.

The Damex Token has received investment from several investors, including:

  • CSPDAO
  • Cetacean Capital
  • Odin Capital
  • Funfair Ventures
  • Coin IX
  • Alpha Praetorium Capital
  • Kebblar Capital
  • Belobaba
  • Catenam Capital

Using the Damex digital asset finance application, users can deposit cryptocurrencies, exchange crypto for fiat currencies, and pay for purchases using their Damex Visa debit cards. The Damex App was launched in its beta version on February 17, 2023, with the initial exchange offering for the Damex Token scheduled for April 19, 2023. The Damex App is currently open in the UK and EEA.

About Damex.io

Damex.io are a digital asset group of companies trading since 2017. Digital Asset Management Limited (trading as Damex or Damex.io) is a Distributed Ledger Technology (DLT) provider that received its Distributed Ledger Technology authorisation from the Gibraltar Financial Services Commission in 2019. The Damex Token is issued by Damex Limited and is registered with the Gibraltar Financial Services Commission for the purposes of its token offering.

Visit www.damex.io to get the latest updates and official information on the Damex Token. Interested individuals can also contact Damex via its social media channels. Telegram: damex_io Facebook: damex.io. Twitter: @damex_io. LinkedIn: https://www.linkedin.com/company/damexio/.

Headquarters: Damex.io, Suite 2.4 & 2.5, Waterport Place, Gibraltar, GX11 1AA

Support Office hours: Monday-Friday, 9:00-18:00.

 

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory