What currency is Immutable(IMX)?

As the native token of the Immutable X protocol, IMX serves as a governance, utility, and transaction fee token, empowering stakeholders with ecosystem decision-making, earning rewards through staking, and ensuring smooth network operations.

Dec 08, 2024 at 11:23 pm

What Currency is Immutable(IMX)?

Immutable (IMX) Token Overview

Immutable (IMX) is an Ethereum-based token designed to power the Immutable X protocol, a decentralized platform for trading non-fungible tokens (NFTs). IMX serves as the platform's native governance and utility token, enabling holders to participate in the ecosystem's governance, stake their tokens, and pay for network fees.

Key Features of IMX Token:

• Governance: IMX holders can participate in the governance of the Immutable X protocol by submitting and voting on proposals related to the platform's development, feature implementation, and resource allocation.
• Staking: IMX can be staked to earn rewards and support the security of the Immutable X network. Stakers contribute their tokens to a pool, helping to validate transactions and secure the platform.
• Transaction Fees: IMX is used to pay for transaction fees on the Immutable X network. Users pay a fraction of IMX to mint, trade, or transfer NFTs, ensuring the smooth functioning of the platform.
• Ecosystem Fund: A portion of IMX tokens is allocated to the Immutable X Ecosystem Fund, which supports the growth and development of the platform and its community.

IMX Token Allocation

The IMX token supply is allocated as follows:

• Circulating Supply: The number of IMX tokens currently in circulation.
• Treasury: A reserve of IMX tokens held by the Immutable X team for ecosystem development and strategic partnerships.
• Early Contributors: Tokens allocated to early contributors who helped develop and support the Immutable X platform.
• Future Issuance: A pre-determined number of IMX tokens that may be issued in the future to support the growth and adoption of the platform.

The specific allocation percentages for each category are subject to change and may vary based on the platform's development and market conditions.

IMX Token Distribution

The IMX token distribution is designed to ensure a fair and equitable distribution among various stakeholders, including:

• Public Sale: A portion of IMX tokens was made available through a public token sale, allowing individuals to purchase tokens and participate in the platform's development.
• Strategic Sale: A portion of IMX tokens was sold to strategic partners and investors, providing support for the platform's expansion and long-term growth.
• Team and Advisors: A portion of IMX tokens is allocated to the Immutable X team and advisors who contribute to the platform's development and vision.
• Community Airdrop: A limited number of IMX tokens were distributed to early adopters and community members as a token of appreciation for their support.

The exact distribution percentages for each stakeholder may vary based on the time of distribution, market conditions, and platform development.