As 2023 draws to a close, we thought this would be a good time to look back and reflect on the remarkable journey Storex has had this year. It has been a year of groundbreaking achievements and milestones for the project that have not only shaped our platform but also the way that users will engage with cryptocurrency in the future. Here’s a snapshot of our most pivotal moments of the year!
Public Beta Launch: A New Era of E-commerce
This was the year that saw Storex officially launch into public beta. This major step forward for the project has been met with incredible enthusiasm and support from the community, as evidenced by the thousands of transactions and interactions made on Storex already and those numbers continue to rise daily. The feedback and testing from our users have been invaluable and have aided us in fine-tuning the Storex experience and helping to propel us to new heights!
Throughout the year, the beta has undergone several big updates which have added more features and addressed feedback we have received from the community. These updates have ranged from integrating trading and KYC verification into the marketplace to a brand new, overhauled login system aimed at incentivising traditional web2 users to enter the world of crypto. It is also worth mentioning the dozens of quality of life improvements that have been made to ensure that Storex is as user-friendly as possible. Of course, there is still more to be done on this front and over the coming months you will continue to see the Storex platform improve and evolve to allow users to have the very best cryptocommerce experience possible.
After our final update in the coming weeks, the public beta will finally conclude (after approximately seven months of testing) as we look to officially launch Storex to the public.
Revolutionizing Access: A Seamless Login System
In our quest to make crypto trading accessible to all, we developed a brand new login system using Multi-Party Computation. This allows users to effortlessly create a blockchain account on XPR Network without ever knowing they are interacting with the blockchain itself while maintaining custody of their private key without the usual hassle and stress.
No longer is access to Storex restricted to those with WebAuth. Now, users can create a Storex wallet in one click through Google, Facebook, X, Discord and many more. This innovative feature allows users to sign up and engage with the marketplace effortlessly, bypassing the need for WebAuth, resulting in a more inclusive, frictionless and secure way to explore the world of crypto-commerce.
Enhanced Functionality: Metal Swap Integration and KYC Verification
One of the key aims of Storex has always been accessibility and ease of use. Our focus this year has therefore been on enhancing the platform’s functionality to allow users to seamlessly access and use the vast range of DeFi solutions built by Metallicus on the XPR Network.
This year, we successfully integrated trading via Metal Swap directly into the Storex UI as well as KYC verification. Users of Storex can complete on-chain KYC and trades without ever having to leave Storex — this integration has made swapping cryptocurrencies free and easy, enabling users to trade a variety of crypto assets seamlessly and most importantly, without needing to pay any gas fees whatsoever. We strongly believe that these features are central to the success of any cryptocurrency e-commerce marketplace.
We also implemented the ability to deposit and withdraw multiple cryptocurrencies to and from the XPR Network blockchain without the need to ever leave the marketplace. This highlights our commitment to providing comprehensive solutions within our ecosystem while also promoting the XPR Network and the range of products developed by Metallicus which merge effortlessly into Storex.
Token Staking: Surpassing the Billion Mark
Another significant accomplishment for Storex this year was the staking of over 1 billion STRX tokens. Earlier in the year, we replaced the old staking contract with our brand new, bespoke staking system which allows users to select APR multipliers based on their lock up duration.
At the time of writing, over half of the total supply is currently staked with stakers earning anywhere from 9% to 29% APR. Not all STRX tokens are in circulation either which means that over 62% of all circulating tokens are currently staked. This is a phenomenal achievement by the community and demonstrates the confidence our users have in the value and future of Storex.
Exchange Listing
Back in May, Storex became the first Proton altcoin to be listed on a centralized exchange outside of the Proton ecosystem. Our listing on LAToken marked an important chapter in our story and was a symbolic step forward as we look to further exchange listings in the future.
One of the most important benefits of our exchange listing was our addition to CoinGecko which we hope will further help Storex tap into a broader audience and provide greater visibility as we continue to progress. Through CoinGecko, Storex now appears on a range of Cryptocurrency asset tracking apps, including Delta, allowing STRX holders to add their token to their portfolios and record and track their assets in real time.
Looking to the Future: A Brand New Age of Cryptocommerce
2024 promises to be an exciting year for everyone involved in crypto, XPR Network and of course, Storex. In the coming weeks, we’ll be releasing our final update to the public beta which will add arbitration — a key component in ensuring that transactions between users are completed smoothly and fairly. Once this testing phase has concluded, we will be ready to officially launch Storex to the public.
In addition to this, we will shortly be releasing a roadmap to the community which will highlight new features which we plan to add to Storex over the coming year as well as to outline our intentions in how we plan to continue to move Storex forward. Throughout the next 12 months, we have many more exciting features, innovations and improvements for the marketplace which we look forward to announcing and releasing.
As we look back on this transformative year, we are filled with gratitude for our community’s support. Your trust and engagement with us has been the driving force behind every innovation, every new feature and every new milestone we reach.
Here’s to a year that has set the stage for an even more exciting future — together. Let’s continue to redefine the landscape of cryptocurrency e-commerce.
Thank you for being a part of our journey…so far!