What Is Immutable?

Immutable is an Ethereum layer 2 scaling solution that focus on NFTs and gaming.

It offers instant transaction confirmation and near-zero transaction fees for minting and trading NFTs.

Users can create and trade ERC-721 and ERC-20 tokens at lower costs on Immutable layer 2 blockchain.

Immutable was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly.

IMX token distribution.

• 51.74% Ecosystem Development (e.g., user rewards and developer grants)
• 25% Project Development
• 5% Public Sale
• 14.26% Private Sale
• 4% Foundation Reserve

IMX max supply: 2,000,000,000 IMX

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51.74% of IMX token supply has been allocated to ecosystem development to incentivize developers and users who contribute to liquidity provision, trading, and building applications on Immutable X. 

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51.74% of IMX token supply is used to fund programs like trading and staking rewards and numerous grant programs designed to attract more developers to build on the platform. 

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IMX tokens utility.

IMX is the native token of Immutable platform. It is an ERC-20 token.

1. Fees

Immutable does not charge gas fees for NFT trading and minting, it charges 2% protocol fee on every transaction settled through the Immutable globle shared orderbook. From there, 20% of the protocol fee is converted to IMX and transferred to the staking reward pool.

2. Staking

Using the 20% protocol fee allocation, IMX tokens will be distributed to stakers on every 14 days staking cycle. Users can re-stake IMX at the end of 14 days cycle to compound their staking rewards.

3. Governance

All IMX holders can vote on the platform and token-related proposals including allocation of token reserves, awarding developer grants, activating daily rewards, and charges in token supply. Voting power is determined by the number of tokens the user holds.

According to cryptoslam.io Immutable X ranks number 7 the most widely used blockchain for NFTs.

There are Immutable X and Immutable zkEVM 

Immutable X does not support smart contracts but immutable zkEVM does.

About Immutable

Ranking: 45^th largest crypto by market cap.

Market cap: $765 million.

Fully diluted market cap: $1.31 billion.

Total value locked: $32.77 million.

Type of layer 2: ZK-rollup.

Transaction per second: Immutable can process 9,000 TPS.

As of September 22, 2023.

Immutable helps solve problem of NFTs and gaming on Ethereum. It offers near-zero transaction fees that suitable for gaming and NFTs that usually have a lot of transactions.