Immutable X imx
Summary
Immutable X (IMX) is the native cryptocurrency powering the Immutable ecosystem.
Immutable is an all-in-one gaming ecosystem created and developed by its parent company Immutable Pty Ltd. It aims to bring digital ownership NFTs to the world by penetrating the nearly 3 billion gamers worldwide.
Immutable is creating the leading and unified ecosystem to make building and playing web3 games accessible, safe, and scalable for the world. Our ecosystem will empower players to have full ownership and agency over their in-game assets, and provide the web3 games of tomorrow with all the scaling support and tools they need to become a massive success
Understanding its different entities
Before diving in, it’s critical to define the different entities and understand holding IMX ≠ equity in Immutable & doesn’t necessarily capture the same level of success as the business entities or the platforms’ success.
- Immutable Platform: The developer platform and ecosystem building and scaling web3 games on Ethereum and Polygon. This platform is where IMX fits into.
- Immutable Pty Ltd: The legal entity of Immutable, which builds out and contributes to the Immutable platform.
- The Immutable Group: Consistents of the Immutable Platform and Immutable Games.
- Immutable Games: A web3 game development and publishing studio with popular titles such as Gods Unchained and Guild of Guardians.
- Digital Worlds NFTS Ltd (‘The Foundation’): The issuers of IMX and rolling out its tokenomics.
The Immutable ecosystem explained
Immutable separates itself from others in the gaming space by creating an all-around gaming ecosystem to onboard gamers and developers on every step of the gaming journey. It has the wallet, infrastructure, developer tools and platform to combine web3 gaming in one ecosystem. It also has other associated entities, such as its Immutable Gaming Studio (separate from the Immutable platform) that builds out and develops games.
Think of Immutable as a gaming ecosystem broken down into two parts (i) Products (ii) Infrastructure.
(i) Immutable has 6 core products
- Passport: An all-in-one wallet keeping users in control of their digital assets. It streamlines the user onboarding process through a passwordless sign-on, web2 social integration and one wallet for all games.
- Mint: The tools to create NFTs.
- Marketplace: A place to sell, buy and browse in-game tokens and NFTs. The place to sell your gaming assets.
- Trade: Ensuring smooth and liquidity NFT markets.
- Checkout: A complete checkout solution across the Immutable ecosystem.
- Developer tools: Blockchain data and APIs to provide developers with the tools to build games and experiences.
(ii) Infrastructure
Immutable’s platform is powered and underpinned by two foundational pillars:
- Immutable X: Released first, it’s a more centralised platform powered by Starkwares StarkEx engine, optimised for specific games.
- Immutable zkEVM: It’s an upcoming general-purpose layer for developers to launch games.
History
IMX started as the core token underpinning the Immutable X platform, although it has since grown with the soon-to-be launch of Immutable zkEVM. The Immutable platform has now developed to cater for two core foundations powering its ecosystem, with IMX having a more significant role.
Immutable remains one of the most popular platforms for games to develop, with ~200 games funded and being developed, with some of the most significant games, such as Illuvium.
IMX Token
Immutable X’s native token is IMX. IMX has a maximum supply of 2B, with just over 50% circulating in the market. IMX is a utility token designed to accelerate the adoption of Immutable X and align incentives to reward contributors to make it one of the leading platforms for web3 games.
Token utility
4 key use cases drive IMX:
- Governance: IMX is used to vote on Immutable’s future development and expansion.
- Fee Utility: 20% of fees on the platform must be paid for in $IMX. If users do not currently own $IMX, Immutable will convert the fee by purchasing $IMX on the open market.
- IMX gas: The core gas currency for Immutable zkEVM, becoming the native network token.
- Staking rewards program: A new utility that rewards stakers with fees paid to incentivise adoption (more below).
Tokenonomic changes
In July 2022, IMX tokenomics were changed, with the most significant change combining IMX staking and rewards into one, transforming more into a utility token to reward network usage.
All fees paid in $IMX are now sent to the ‘staking reward pool’. By staking $IMX, users can earn rewards from this pool if they meet the eligibility requirements. The change aims to align incentives to encourage more network usage while rewarding holders via a flywheel:
- Activity on the protocol generates staking rewards
- Greater staking rewards increase the utility of IMX
- Enhanced utility of IMX results in more games, marketplaces, and traders
- More games, marketplaces, and traders create more trading volume
The IMX token is an ERC-20 utility token built for rewarding pro-network activities on Immutable X, such as trading, liquidity provision, and building applications. The token aligns incentives between traders, creators, and marketplaces so that all participants benefit from protocol activity
IMX supply
IMX is distributed as follows:
- 51.74% is allocated to Ecosystem Development
- 25.00% is allocated to Project Development
- 5.00% is allocated to Public Sale
- 13.96% is allocated to Private Sale
- 0.30% is allocated to Additional Community Growth
- 4.00% is allocated to Foundation Reserve
IMX supply emissions schedule
With ~50% of its supply already in the market, the rest is expected to enter the market by 2026.
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