What is Immutable X? Information about IMX Token

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What is Immutable X?

Immutable X is the first layer 2 blockchain designed specifically to support the rapid minting and trading of NFTs on the Ethereum platform. The project employs StarkWare’s Zero Knowledge Rollups technology to address the high gas fee issues associated with Ethereum.

Immutable X utilizes ZK Rollup—a blockchain scaling solution that allows users to perform seamless transactions on Layer 2 by:

Conducting off-chain transactions and generating “Validity Proof” for these transactions.
Sending these proofs to a smart contract on Layer 1.
On-chain assets of users are held in smart contracts and can only be released after the proofs have validated the legitimacy of the user’s assets.

Immutable X Products

Passport: Immutable Passport is a non-custodial authentication and wallet solution that streamlines user login without requiring passwords. This product ensures security, smooth operation, and effective gamer engagement.
Checkout: Immutable Checkout is a comprehensive payment solution that manages the entire payment process within a game or marketplace. It allows users to deposit funds, buy, or trade assets instantly, integrating various payment methods.
Orderbook & Marketplace Network: Immutable Orderbook enables marketplaces, studios, and creators to increase revenue and liquidity by sharing NFT orders across leading NFT marketplaces.
Mint: Immutable X’s minting tool allows users to mint NFTs without paying transaction fees while maintaining Ethereum’s security.
Trade: Immutable Trade offers rich trading capabilities through optimized smart contracts and APIs for NFT liquidity.
SDK: Immutable SDK provides projects with access to Immutable X’s APIs and smart contracts, enabling developers to quickly and securely leverage web3 infrastructure. This allows developers to focus on perfecting their products while Immutable X provides the necessary infrastructure for operating a blockchain game.
Developer Hub: Immutable DevHub allows developers to launch and manage their projects easily, giving them control over activities like launching NFT collections, performance analytics, access management, and personalized guidance.
Blockchain Data API: Immutable Blockchain Data API offers studios and developers all the online data they need to build a complete game through a simple, powerful, and scalable set of APIs.
Immutable zkEVM: Immutable zkEVM is a blockchain designed for games, featuring EVM compatibility, low transaction fees, high scalability, and security inherited from Ethereum.

Key Features of Immutable X

Fast and Secure: The Immutable X protocol can handle more than 9,000 TPS—an extremely high speed on Ethereum. It is a non-custodial protocol, meaning you have full control over your assets, secured by the Ethereum blockchain.
Zero Gas Fees: Built on StarkWare’s advanced zk-rollup technology, Immutable X allows you to mint and trade NFTs with zero gas fees.
Build Instantly: Immutable X makes Ethereum easy to use at scale, eliminating the need to choose between user experience and leading underlying technology. Its APIs lower the entry barriers for developers, allowing them to build projects on Ethereum immediately.

Team

James Ferguson: CEO of Immutable X since 2018, previously founder of Shopyak and Rivlr, an esports platform.
Robbie Ferguson: Co-Founder of Immutable X with several years of blockchain experience, previously worked in Data Analytics Blockchain at KPMG.
Alex Connolly: Co-Founder and CTO of Immutable X, studied at the University of Sydney, one of the world’s top universities.

Investors and Partners

Immutable X has completed four funding rounds, raising nearly $280 million:

July 9, 2018: Seed round with $2.4 million led by Continue Capital and Nirvana Capital.
September 23, 2019: Series A round with $15 million led by Galaxy Digital EOS and Naspers Ventures.
September 14, 2021: Series B round with $60 million, involving eight investment funds, including Bitkraft Ventures, King Rival Capital, Alameda Research, Prosus Ventures, Galaxy Interactive, Fabric Ventures, Air Tree, Reinventure, Apex Capital, and Vayner Fund.
March 8, 2022: Raised $200 million, with participation from Tencent, Parafi Capital, Temasek, and Declaration Partners.

Immutable X boasts many prominent partners from both the crypto and traditional markets, including OpenSea, GameStop, Amazon, and Rarible.

Immutable X Ecosystem

Immutable X’s ecosystem is diverse, encompassing over 300 different games and more than 20 marketplaces.

What is IMX Token?

Basic Information about IMX Token

Token Name: Immutable X
Token Symbol: IMX
Blockchain: Ethereum
Smart Contract: 0xf57e7e7c23978c3caec3c3548e3d615c346e79ff
Total Supply: 2,000,000,000 IMX
Max Supply: 2,000,000,000 IMX
Circulating Supply: 1,572,824,817 IMX (as of August 13, 2024)

IMX Token Allocation

Ecosystem Growth: 51.74%
Project Development: 25%
Private Sale: 14.26%
Public Sale: 5%
Foundation Reserve: 4%

IMX Token Release Schedule

The token was released on November 5, 2021, and is planned to be fully unlocked by November 2025 (4-year vesting period).

Uses of IMX Token

Protocol Fees: 20% of Immutable protocol fees must be paid in IMX tokens. These fees can be paid directly in IMX, or Immutable will automatically swap the actual purchasing currency (e.g., ETH) for IMX on the open market. This means users do not need to hold IMX tokens to trade on the protocol.
Staking: IMX tokens received as part of the fee mechanism are sent to a “staking pool.” Monthly, this pool is distributed proportionally among all users actively staking their IMX tokens on Immutable X. User rewards are proportional to the amount of IMX they have staked relative to all other active stakers. Staking will be activated a few months after the token launch.
Governance: Token holders have the right to propose and vote on token-related proposals.

Where to Trade IMX Tokens?

IMX tokens can be traded on major exchanges such as Binance, Coinbase, OKX, and Bybit.

Trade IMX on Binance Here!!!

Similar Projects

Immutable X is a layer 2 solution on Ethereum similar to Optimism, Arbitrum, zkSync, StarkNet, and more.

Conclusion

Immutable X is a promising project with many advanced products and solutions, addressing current issues of NFTs on Ethereum and creating new opportunities for users and developers.

This article provides valuable information about Immutable X and IMX Tokens. If you have any questions, please leave them in the comments section for immediate clarification.