Immutable X (IMX) is a layer 2 scaling solution for NFTs on the Ethereum blockchain. In this article, as Kriptokoin.com, “What is Immutable X?” We will answer the question. In addition, we will touch on other questions about the project.
What is Immutable X? What does it do?
Immutable X, called IMX for short, is an Ethereum-based and Layer-2 protocol designed for NFT trading. The platform is also a solution to typical problems with Ethereum-based transactions by granting instant trade confirmation without gas fees. Additionally, Immutable X (IMX) is an open source platform for developers and tech enthusiasts to build more comprehensive and easy games and applications on the Ethereum chain. At the same time, the platform prides itself on its high security and convenience for NFT trading.
What is IMX coin?
IMX coin is the native token of Immutable X. MX Token can be used for a wide variety of benefits such as:
- Users can use IMX tokens as payment for any Immutable X transaction as 20% of the transaction fee will be reserved in the form of IMX tokens.
- Staking of IMX tokens is enabled for rewards incentivized in a certain amount of “Stake Reward Pool” allocated from the total supply.
- IMX tokens also give their holders administrative rights to vote on the community’s proposals to guide the development roadmap of the platform.
How does Immutable X work?
Immutable leverages an easy-to-use dashboard to simplify the NFT creation process. The interface allows you to formulate, issue and distribute ERC-721 and ERC-20 tokens. The Immutable X Volition model is used when printing, buying, selling and transferring assets. During the configuration of your NFT, you can decide whether to keep assets Validium ZK protected or ZK Aggregated. Anyone can stake IMX tokens to secure passive rewards. Staking helps secure the network. It’s a great way for new users to get consistent returns. Also, all Immutable stakers receive a portion of the network fees automatically distributed to your wallet. The IMX token works as the main utility token for the Immutable X network. This token is used to pay for the execution of smart contracts and the printing of assets. It can also be traded on popular exchanges and sent globally like a regular cryptocurrency. You can also stake this versatile digital asset.
What is Immutable X? How to get IMX coin?
Immutable X is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where Immutable X is traded are listed as follows: Binance, OKX, Bitget, BTCEX. Users who want to invest in the project should open an account on one of these exchanges.
