We are excited to announce the listing of Immutable X, shortly-called IMX, is an Ethereum-based and Layer-2 protocol that is designed for trading NFTs.
The high cost of minting NFTs on Ethereum remains one of the major roadblocks preventing these assets from reaching mainstream use. Unfortunately, Ethereum 2.0 is still a few quarters away from merging with the mainnet. As of now, the immediate solution is layer-2, and that’s what Immutable X is building.
Let’s dive deeper to learn more!
What is Immutable X?
Immutable X is a layer 2 protocol for trading Ethereum NFTs that gives users instant trade confirmation, huge scalability (9,000 transactions per second), and zero gas fees without compromising user ownership. Immutable X’s goal is to make minting and trading NFTs easier than trading traditional digital assets.
In all reality, Immutable X is a layer 2 scaling solution that leverages the power and security of the Ethereum blockchain, rather than compete against it. Let’s take a look at what Immutable X offers their users.
Immutable X Exchange
Immutable X Exchange is the platform’s very own marketplace, even though it was named as an “exchange.”
It is a peer-to-peer platform that offers zero gas fees and 9,000 TPS speed, which is essential for gamers as every second counts, literally, in their gameplays because little delays or interference can cause major negative outcomes in their quests and game standings.
The Exchange is valuable, not only for gamers but also for artists and traders as well, as it allows them to execute non-custodial trades. The beauty of these features is that it provides users with more power because it retains users’ ownership of their NFTs’ private keys.
Immutable X Mint
Immutable X equips users with the capability for the creation and large-scale distribution of NFTs, and whether users mint a single or bulk item, the platform can execute all minting processes free from any charge.
Also, NFTs that have been minted on Immutable X are immediately available to trade on the open market while maintaining the security provided by Ethereum.
Immutable X Link
Immutable X link serves as the user’s connection between their Immutable X key on the L2 exchange and their private key on the main blockchain of Ethereum.
It has the same functions as the Ethereum wallet manager as it can also execute the same authentication and authorization functions inside the exchange. And after everything has been verified, they will then be transferred to the main blockchain.
What is IMX token?
IMX is the native token of Immutable X. It’s an ERC-20 utility and governance token with a 2 billion total supply. IMX is used to pay for transaction fees and incentivize users and developers on Immutable X. They can earn IMX tokens by contributing to the platform’s growth, such as trading NFTs and building applications.
As a utility token, IMX allows token holders to earn rewards through staking in reward pools. They can also participate in the governance of Immutable X by submitting and voting on community proposals. The more IMX coins they hold, the greater their voting power.
IMX is available for trading with $USDT pair on FMFW.io!
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FMFW.io does not provide financial, legal, accounting, or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. All users are advised to consult with their financial, legal, accounting, and tax advisers regarding any potential investment or trading activity.