[Update] Notice of STMX Delisting

Hello. This is the most reliable global standard digital asset exchange, Upbit.

StormX (STMX) has been designated for delisting by the Digital Asset Exchange Association (DAXA). DAXA can jointly designate delisting, determine delisting support termination, and other measures for investor protection.

Please check the detailed information below, and we ask our members who hold the digital asset to verify the following details.

• For the safe asset management of our customers, Upbit plans to provide necessary token swaps for StormX (STMX) regardless of the communication results.

STMX (StormX)

• According to the exchange, StormX (STMX) is scheduled to merge with EARN'M (EARNM) in mid-January. Members are advised to be cautious about the price volatility of StormX (STMX).

[Notice on the Merger of StormX (STMX) and EARN'M (EARNM)]

• On October 1, 2024, the StormX (STMX) exchange announced the merger details with EARN'M (EARNM), a platform for rewards. The announcement stated that during the voting process, STMX holders can swap their STMX for EARN'M's new token, EARNM.

• Reference: Proposal on the Merger of StormX and EARN'M

• From October 13, 2024, to October 20, 2024, the governance vote on the merger of StormX (STMX) and EARN'M (EARNM) was conducted, and the proposal was approved.

• Reference: StormX 1st Governance Vote Result

• For STMX holders who could not participate in the vote due to staking, the same proposal was approved in the governance vote conducted from October 22, 2024, to October 29, 2024.

• Reference: Announcement on the 2nd Governance Vote of StormX

• Reference: StormX 2nd Governance Vote Result

• Following this vote result, after the merger of StormX (STMX) and EARN'M (EARNM), STMX holders can swap their STMX for EARNM, and the swap ratio will be determined based on the pre-merger average fully diluted valuation (FDV) of StormX (STMX) and EARN'M (EARNM).

• STMX FDV: The specific date determined by the exchange or the average FDV of the last 30 days before the merger

• EARNM FDV: The average FDV of the first month from the first trading day of EARNM

• Accordingly, if the STMX FDV is 1 billion dollars and the EARNM FDV is 2 billion dollars, the post-merger FDV will be a total of 3 billion dollars. After this, STMX holders will receive 33.33%% of the new token supply, and EARNM holders will receive 66.66%%.

• According to the exchange, the token generation event (TGE) of EARNM is scheduled to be held on December 12, 2024, and the official merger of StormX (STMX) and EARN'M (EARNM) is expected to take place 6 to 8 weeks after the TGE, as confirmed in the exchange's announcement.

• Reference: Announcement on the Merger of StormX and EARN'M (10/1)

• Reference: Twitter Announcement on EARNM TGE (11/7)

• Reference: Announcement on EARNM TGE (11/5)

• Upbit will communicate with the exchange regarding the proposed merger and will notify members of any additional changes through announcements.

• EARN'M (EARNM) is not a digital asset supported by Upbit.

Members of the Digital Asset Exchange Association (DAXA) can jointly designate delisting, determine delisting support termination, and conduct investigations on digital assets traded on the exchange, monitor market conditions, and provide rapid information and response for investor protection.

Upbit will always strive to ensure the safest trading for our members.

Thank you.

※ Virtual assets are high-risk products and may result in the loss of all or part of the investment funds.

*This information is automatically generated.