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What is Immutable X? Complete set of Immutable X & IMX tokens
- Immutable X . Overview
- What is Immutable X?
- How Immutable X . works
- Highlights of Immutable X
- Immutable X's featured products
- Immutable X Developers, Investors and Partners
- Overview of the IMX . token
- What is IMX used for?
- Information about the IMX . token
- IMX Token Allocation
- IMX . Token Locking Plan
- IMX . Token Allocation Schedule
- IMX . token exchange and storage wallet
- summary
Immutable X . Overview
What is Immutable X?
Immutable X is a project that uses ZK Rollup technology to improve the processing speed of NFT buy, sell and mint transactions generated from the Ethereum blockchain platform . Thanks to ZK Rollup technology, Immutable X can process about 9,000 transactions per second, especially with no gas fees for peer-to-peer (P2P) transactions. It is because of these things that Immutable X is considered a perfect solution for today's NFT transactions.
How Immutable X . works
Immutable X works by using ZKRollup which allows transactions to be processed off the main Ethereum chain. Thereby helping to increase transaction speed and reduce the amount of gas fees to be paid.
ZK Rollup works by pooling multiple transactions into a single off-chain transaction and executing them. It then sends SNARK (succinct non-interactive argument of knowledge) back to the main chain as proof of the validity of the transactions made. This makes ZK Rollup-validated transactions faster and cheaper and reduces the load on the Layer 1 main chain.
Highlights of Immutable X
Fast transaction processing speed with near-zero gas fees : Immutable X is developed based on StarkWave's most advanced ZK Rollup technology. Therefore, transactions of buying, selling or minting NFT will be processed quickly by Immutable X without too much gas fee, even the gas fee is almost zero for peer-to-peer transactions ( P2P).
High security inherited from Ethereum : Immutable X is a Layer 2 built on the Ethereum blockchain, so it inherits the security of this platform.
API Abstraction Layer : Immutable X combines with the REST API programming interface to help project developers create NFT applications more conveniently. Specifically, on Immutable X, users' buying, selling, swapping and minting NFT transactions are all simplified into API calls without having to interact directly with smart contracts. As a result, project developers who are new to the field will be able to launch projects more quickly and easily.
Explanation of words : REST API (also known as RESTful API) is a standards-compliant application programming interface (API) of the REST architecture used in the back-and-forth interaction between clients (computers and servers). client) and server (server).
Immutable X's featured products
NFT-Enable Wallets: Immutable X currently supports all types of utility Ethereum wallets on browsers such as Google Chrome, Brave, Coc Coc, Firefox… In addition, Immutable X also allows users to easily connect to wallets NFT-specific storage.
Platform SDKs : Immutable X provides an SDK (Software Development Kit) that allows partners to more easily connect to Immutable X.
Shared Liquidity & Order-book : Immutable X provides a global Order-book model to optimize liquidity on its platform. This means that NFT buy/sell orders are created on Marketplace A but can still be executed on Marketplace B. With this model, users' transactions go faster.
Immutable X Platform: Here, investors can mint, deposit, withdraw and swap their NFT assets.
Immutable X Marketplace: Where investors will buy and sell their NFT assets.
Immutable X Play to Earn : Here, people can join the game Gods Unchained (card game) to earn money.
Immutable X Developers, Investors and Partners
Immutable X . Development Team
The core members of Immutable X include:
James Ferguson, Co-Founder and CEO of Immutable X : He has 7 years of experience as CEO and manager at companies working in the field of e-commerce and technology such as Nulux, building Gods Unchained.
Robbie Ferguson, Co-Founder of Immutable X : He has 5 years of experience working in KPMG's blockchain data analytics field.
Alex Connolly, CTO of Immutable X : He has 5 years of experience in developing NFT projects.
Immutable X . Development Team
Investors and partners of Immutable X
Immutable X raised US$15 million in September 2019 from major companies such as Naspers, Galaxy Digital, Coinbase, Apex Capital, Nirvana Capital, Continue Capital.
Investors of Immutable X
Overview of the IMX . token
What is IMX used for?
IMX is the official token of Immutable X, it is used to:
Participation in governance (Governance) : IMX owners have the right to propose and contribute ideas to help developers build Immutable X projects.
Transaction Fees : Users will use IMX to pay transaction fees on Immutable X.
Staking : IMX is used as a reward for staking participants on Immutable X's system.
Information about the IMX . token
- Token Name: Immutable X
- Ticker: IMX
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0xf57e7e…6e79ff
- Token Type: Utility, Governance
- Total Supply: 2,000,000,000 IMX
- Circulating Supply: 235,284,001 IMX
IMX Token Allocation
- Ecosystem Development : 51.74%
- Project Development : 25%
- Token Sales (Public & Private) : 19.26%
- Foundation Reserve : 4%
IMX Token Allocation
IMX . Token Locking Plan
The IMX token locking plan is shown in the figure below.
IMX . Token Locking Plan
IMX . Token Allocation Schedule
All 20,000,000 IMX will be distributed within 54 months (equivalent to 4.5 years). The detailed IMX token allocation roadmap is shown in the figure below.
IMX . Token Allocation Schedule
IMX . token exchange and storage wallet
Currently, IMX has been listed and supported for trading on many major cryptocurrency exchanges such as Binance, Coinbase, OKX, Huobi...
IMX is an ERC-20 standard issuance token. Therefore, you can store IMX on e-wallets that support ERC-20 tokens such as MetaMask, Myetherwallet, Trust Wallet, Atomic Wallet, imToken, Ledger, Trezor, etc.
summary
Above is all information about Immutable X project and IMX token. Immutable X is a Layer 2 solution using ZK Rollup technology that helps solve problems that the Ethereum blockchain is facing such as high gas fees. In addition, Immutable X provides an infrastructure for developers to build NFT games. With the current development trend of NFT, Immutable X is likely to be one of the notable projects by the end of 2021.
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