Introducing IMX To Power Ethereum’s First Layer-2 for NFTs

Important: No IMX tokens have been minted. Do not purchase anything marketed as IMX until an official announcement is made. United States citizens or residents are not allowed to receive IMX tokens due to regulatory uncertainties in the US. Please read here for more information.

Latest Update: 22 October 2021 at 1:00 PM (AEST)

We are thrilled to announce IMX, the native ERC-20 utility token of Immutable X. Immutable X is Ethereum’s first zk-rollup protocol for minting and trading NFTs, built in partnership with StarkWare. During its mainnet Alpha period, Immutable X has facilitated millions of dollars in NFT volume and more than 250,000 NFT trades.

Currently, some of the largest companies in the world are building NFT experiences. Many are exploring competitive blockchains or sidechains due to the scalability and user experience challenges of Ethereum. Immutable believes developers shouldn’t have to choose between the security and network effects of Ethereum, and building a fantastic experience for their users — and these companies agree. Immutable X makes building world-class NFT projects simple by providing a powerful underlying scaling solution, a global order book and asset registry, and an NFT-native wallet experience, all exposed through simple APIs and SDKs.

IMX is designed to accelerate the growth of Immutable X by incentivising protocol adoption and trading activity, and to reward those users and developers who contribute to building a scalable NFT ecosystem right here on Ethereum.

Tokenomics

There will 2,000,000,000 IMX tokens, provisionally allocated to the following areas:

Currently, IMX has three primary use cases:

  • Fees: 20% of every transaction fee on the protocol will be paid in IMX. If you do not own any IMX, IMX will be automatically purchased using your ETH (creating a frictionless user experience).
  • Staking: all IMX used to pay transaction fees is sent to a staking rewards pool. This pool will be proportionally distributed among users who are currently staking IMX — the more you stake, the more you’ll earn.
  • Governance: as an active member of the Immutable X community, you have an IMX-weighted vote on the future of the protocol.

Earning IMX

There is an ongoing IMX Play to Earn campaign to reward users who contribute value to the Immutable X protocol. You can find more information by clicking here.

After the IMX Play to Earn campaign ends, tokens will be rewarded on an ongoing basis to developers, traders, and users who contribute to protocol growth. Every time a user performs an action which is beneficial to Immutable X (such as trading), they will earn points. A rewards pool will then be distributed proportionately amongst points holders.

Currently, we’re planning to reward users for the following actions:

What’s Next?

You can learn more about Immutable X and IMX on our website or whitepaper. You can also join our growing communities on:

Disclaimer

This communication is not for distribution to U.S. newswire or similar services or for any dissemination in the United States. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, IMX Tokens to any U.S. person (including, without limitation, any citizen or resident of the United States) or in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the laws of any such jurisdiction.

Please see our website for full legal disclaimer here.

--

--

--

Powering the next generation of web3 games on Ethereum L2. https://www.immutable.com/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Double your Income by Buying this Cryptocurrency Coin

Here’s my grumpy little bitcoin🤣🤣🤣

Finding Gems With Tokemon

Monero Hardfork and Temporary Issues With Transactions

CybermilesNFT Newsletter — From arts to sports, NFT crosses boundaries constantly

Pollen Live on Mainnet with First Virtual Asset Management Module

NFT with the power of a neuron or DEX (Internet Computer protocol)

Saja Token Review: Is Saja Still a Scam? New Updates

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Immutable X

Immutable X

Powering the next generation of web3 games on Ethereum L2. https://www.immutable.com/

More from Medium

Announcing our Partnership with Genopets: The World’s First Move-to-Earn NFT Game, Built on Solana

Venly x TRM2 — NFT Drop — 100 MEMPHIS Race Cars

What is a Solana NFT? (Part 4)

Caveworld to Integrate Chainlink Tools to Increase Transparency and User-Friendliness