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What is IMX coin? Introduction to the issue price, total amount and white paper of IMX coins

IMX coin is a cryptocurrency that facilitates NFT trading on Immutable X, a decentralized platform offering low fees and high transaction speeds.

Oct 13, 2024 at 11:30 pm

What is IMX Coin?

IMX coin is the native cryptocurrency of the Immutable X ecosystem, a decentralized platform for trading non-fungible tokens (NFTs). The platform is designed to overcome the limitations of traditional NFT markets, such as high gas fees, slow transaction speeds, and lack of liquidity.

Issue Price

The IMX coin was issued at a price of $0.10 during its initial decentralized exchange (DEX) offering (IDO) on October 14, 2021.

Total Amount

The total supply of IMX coins is limited to 2 billion.

White Paper

The Immutable X white paper provides a comprehensive overview of the platform, including its technical architecture, governance model, and token economics. Key points from the white paper include:

Platform Overview: Immutable X is a layer-2 solution built on top of the Ethereum blockchain. It leverages zero-knowledge proofs to enable fast and gas-efficient NFT transactions.
Token Use Cases: IMX coins can be used for various purposes within the Immutable X ecosystem, including:
- Paying transaction fees on the platform
- Staking to earn rewards and participate in governance
- Purchasing NFTs and other digital assets
Governance: IMX coin holders can participate in the governance of the Immutable X platform through the Immutable DAO (decentralized autonomous organization). The DAO is responsible for making decisions regarding the platform's development and operations.

Conclusion

IMX coin is an important part of the Immutable X ecosystem, providing utility and governance rights to its holders. With its strong focus on NFTs and its innovative platform design, Immutable X has the potential to revolutionize the NFT market.

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