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Damex Releases In-App Utility Token Damex Token, Enables Users to Earn Rewards for Staking Tokens – Press Release Bitcoin News
press release
PRESS RELEASE. WATERPORT PLACE, GIB., 20 March 2023 – Digital Asset Management Limited and the Damex Group (“Damex” or “Damex.io”)), a distributed ledger technology provider based in Gibraltar, recently announced their utility token IEO, the Damex Token ($DAMEX), which can be used in 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 April 19. The tool went live and was tested during the first quarter of 2023, with future development for both the Damex Token and the Damex app planned throughout the year. The total supply is 370 million Damex Tokens.
The goal of these new offerings from Damex is to encourage users to become healthier individuals, while educating them about cryptocurrency and promoting environmental sustainability.
What can users get in exchange for staking Damex tokens?
For example, when a user stakes 5,000 Damex tokens, they can access a VIP Premium membership, in addition to zero exchange fees while using the Damex app. Premium subscription members can enjoy benefits such as:
- Access to top level training challenges
- Get a premium membership card
- Unlock cashback incentives at all levels
- Get early access to new Damex features
During its first round of private sale (Q4 2022) for 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 connected to other blockchain protocols such as Solana and BSC. Apart from being used for staking and rewards, the Damex Token will allow users to vote on key features of the Damex ecosystem and key features, including Damex Token listing and Damex App features.
Damex is also introducing its Buy Back and Burn program, where 20% of the profits will be used to buy the original Damex tokens from the market. The tokens will either be burned or used as incentives for users.
Users can earn rewards for completing challenges, which 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% cashback and 10% off exchange fees. Premium members can receive 0.15% cashback, while VIP Premium members (5,000 Damex tokens) can receive rewards such as 0.2% cashback, free NFT airdrops and zero exchange fees on the Damex platform.
Damex Token has received investments from several investors, including:
- CSPDAO
- Capital of whales
- Odin’s capital
- Funfair Ventures
- Coin IX
- Alpha Praetorium capital
- Keblar capital
- Belobaba
- Catenam capital
Using the Damex digital asset financing application, users can deposit cryptocurrencies, exchange crypto for fiat currencies and pay for purchases with their Damex Visa Debit Card. The Damex app launched in its beta version on February 17, 2023, with the first exchange offering for Damex Token scheduled for April 19, 2023. The Damex app is currently open in UK and EEA.
About Damex.io
Damex.io is 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 authorization 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 the token offering.
Visit www.damex.io to get the latest updates and official information about Damex Token. Interested persons can also contact Damex via social media channels. Telegram: damex_io Facebook: damex.io. Twitter: @damex_io. LinkedIn:
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 action 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.
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