Immutable(IMX)

Overview

Immutable (IMX) is the native token of Immutable X, a layer-2 scaling solution built for NFT trading and blockchain gaming on Ethereum. Immutable X uses zk-rollup technology to bundle many transactions together before recording them on the Ethereum mainnet, which is intended to reduce gas costs for minting and trading NFTs while increasing throughput. The project was developed by Immutable, a company founded in 2018 and headquartered in Sydney, Australia, and launched using StarkWare's STARK proof technology.

The IMX token is used within the network for paying transaction fees, staking, and voting on protocol governance proposals. A portion of the trading fees generated on Immutable X marketplaces is settled in IMX, and the token has a maximum supply of 2 billion units. Immutable later introduced an additional zkEVM chain, extending the ecosystem to support Ethereum-compatible development environments.