Damex Introduces New Native Token for the Damex App, Token launch scheduled for 19th of April
Beta version of the Damex App currently available to limited users—Full launch coming soon. Damex launches the Damex Token to promote a healthier lifestyle among users. Both products aim to educate users about cryptocurrency while offering incentives and promoting sustainability.
GIBRALTAR, March 15, 2023 (GLOBE NEWSWIRE) — Digital Asset management Limited and the Damex group (“Damex” or “Damex.io”) is launching two new offerings, the Damex App (the “App”) (currently in beta) and the Damex ($DAMEX) Token. Both offerings aim to encourage users to adopt a healthier lifestyle while offering financial incentives and promoting environmental sustainability. The App had its soft launch in August 2022 and was made available via a private invitation for a limited number of users. (Full Launch is coming soon) The Damex Token IEO is scheduled for the 19th of April 2023.
The Damex App is a Digital Asset Finance App that uses non-fungible tokens (NFTs) and Damex’s proprietary cryptocurrency token, the Damex Token. The App makes digital asset finance more accessible and engaging through gamifying user experiences.
Inspiration for both the Damex App and the Damex Token stemmed from the COVID-19 lockdowns, which put a mental and physical strain on millions of individuals globally. Through these new offerings, Damex aims to give back to its communities by supporting individuals and encouraging them to adopt a healthier lifestyle, educating users about cryptocurrency, and promoting sustainability through encouraging physical activity and offering financial incentives.
Using modern technology, Damex aims to penetrate the fitness industry, a growing industry estimated to be worth over USD 87 billion globally.
The App is currently in its beta version, while the Damex Token is a utility token that can be used within the app.
Damex App key features:
- Fiat and crypto wallets
- Damex Debit Card Program
- Gamification (Step and NFT)
- Allows users to exchange fiat and cryptocurrencies, pay using crypto and fiat, and plant trees
Some of the App’s future features to watch out for include the following:
- Additional features such as life/health insurance and loan/credit line
- NFT trading
- Stock and traditional assets trading
The Damex App also introduces a leaderboard; users must complete tasks and meet specific criteria to climb the ranks. The Top 20 users will be able to access select rewards including quarterly NFT rewards, cash back incentives, refer-a-friend bonuses, and discounts on trade fees.
Damex Token key features:
- In-app utility token (the Damex Token)
- Can be staked to earn rewards
For instance, staking 5,000 Damex Tokens will give users access to features such as zero exchange fees while using the Damex App and access to VIP Premium. Premium Subscription Members can unlock benefits, including access to top-tier exercise challenges, a premium member card, cash back incentives (all tiers), and early access to new features. Users can then spend their rewards using the Damex Visa debit Card.
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 based in Gibraltar as a broker/dealer and custodian of digital assets. It was co-founded by Sam Buxton (CEO), Thomas Johnson (Ops Director), Philip Vasquez (CLO), Jeremy King (CIO) and Scott McKim (COO). Damex.io was one of the first companies in Gibraltar to receive the Distributed Ledger Technology authorisation from Gibraltar’s Financial Services Commission in 2019.
The Damex Token has received investment from Cetacean Capital, Odin Capital, Funfair Ventures, Coin IX, Alpha Praetorian Capital, Belobaba, Catenam Capital and more.
Damex Limited is registered with the Gibraltar Financial Services Commission for the issuing of the Damex Token. Please visit the Damex.io website for the white paper, terms and conditions and official notices.
To learn more about Damex and its latest offerings, visit www.damex.io. Twitter: @damex_io. Facebook: damex.io. Telegram @damex_io
Contact: Media Team
Email: [email protected]