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About Immutable
Key Points
- Immutable is a layer-two scaling solution for NFTs on Ethereum.
- It aims to solve Ethereum’s limitations: low scalability, poor user experience, illiquidity, and slow developer experience.
- Users benefit from instant trading, massive scalability, and zero gas fees for minting and trading NFTs.
Founders and Team
- Founded by James Ferguson and Robbie Ferguson, both Forbes 30 Under 30 entrepreneurs.
- The team consists of over 100 members from various backgrounds.
- Raised a seed round in 2018 and a $15 million Series A in September 2019.
About Immutable X
Introducing Immutable (IMX): A Revolutionary Blockchain Solution
Immutable proudly positions itself as the pioneering layer-two scaling solution for NFTs on Ethereum, effectively mitigating the limitations inherent to the Ethereum network. By doing so, Immutable’s blockchain overcomes the hurdles of low scalability, subpar user experience, illiquidity, and sluggish developer experience that have long plagued Ethereum. In its place, users can revel in instantaneous trading and unparalleled scalability, all while enjoying the benefits of zero gas fees for minting and trading NFTs, without compromising the integrity of user or asset security.
Thanks to this innovative technology, users will be empowered to create and distribute digital assets, including ERC-20 and ERC-721 tokens, on a massive scale. Chris Clay, Game Director of Gods Unchained, a pioneering project already leveraging Immutable, noted that Immutable enables Gods Unchained to implement a novel meta-system that was previously unattainable. By doing so, Immutable strives to craft a world-class experience for both users and developers, fostering a seamless and immersive environment.
The Visionaries Behind Immutable: Meet the Founders
Immutable was founded by James Ferguson, a visionary entrepreneur who made Forbes’ prestigious 30 Under 30 list, and previously spearheaded a software development team at a billion-dollar eCommerce powerhouse. He was joined by his brother Robbie Ferguson, a Thiel fellow and fellow Forbes 30 Under 30 honoree.
The team boasts a diverse membership of over 100 individuals, hailing from a broad range of backgrounds, including blockchain, FAANG, finance, fintech, and management consulting. Following a successful seed round in 2018, the company secured a substantial $15 million Series A investment in September 2019. This impressive funding round was backed by an esteemed group of investors, featuring some of the most prominent names in blockchain investing, including Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital.
Unveiling the Unparalleled Advantages of Immutable X
Immutable X stands to reap the benefits of being a pioneering layer-two solution that leverages zk-rollups, with an exclusive focus on NFTs. As zk-rollups continue to gain prominence as a scaling solution, the project finds itself at the forefront of innovation within the Ethereum ecosystem. With its potential to achieve transaction speeds exceeding 9,000 tps, Immutable X is well-positioned to emerge as the de facto “NFT blockchain” of the future.
A pivotal element in realizing this vision is the API abstraction layer.
Leveraging REST APIs, Immutable X simplifies every NFT-related interaction,
including minting, trading, and transferring, into straightforward API calls.
The company expects this to be a crucial factor in enticing new entrants, such as
established gaming and content companies, to join the space.
Furthermore, users will no longer need to navigate between networks when linking their wallets. The protocol incorporates an intermediate layer, dubbed the “Link,” which facilitates a seamless, NFT-centric wallet experience, thereby enabling Immutable X to seamlessly integrate with third-party marketplaces while mitigating security risks.
By leveraging a shared global order book that facilitates protocol liquidity, NFT marketplaces can be seamlessly built on Immutable X without the need for a backend infrastructure. As a result, third-party marketplace solutions can coexist harmoniously with the protocol’s native marketplace. Furthermore, this solution is expected to significantly lower the barriers to entry for content creators and smaller developers, fostering a more inclusive ecosystem.
What Is the Circulating Supply of Immutable (IMX) Coins?
IMX, the protocol’s native ERC-20 utility token, serves three primary purposes: facilitating fee payments, enabling staking, and governing the network. Notably, 20% of the protocol’s fees must be settled in IMX, while users can stake IMX to receive a proportionate share of the network’s fees. Furthermore, token holders are empowered to vote on governance proposals, with their voting power tied to their IMX holdings. The total supply of IMX is capped at two billion, with the following token distribution:
- Ecosystem cultivation and growth – 51.74%: allocated for user incentives, developer grants, liquidity provisioning, and marketing initiatives.
- Project development and advancement – 25%
- Private sale – 14.26%: featuring a one-year cliff, followed by a monthly unlock schedule spanning two years.
- Public sale – 5%: with a six-month unlock period.
- Foundation – 4%: dedicated to ecosystem development-related initiatives, including liquidity provisioning, with a one-year cliff and a monthly unlock schedule over four years.
The Immutable Network’s Unwavering Security: A Pillar of Trust
Immutable is a layer-two blockchain that boasts zero gas fees, allowing operators to autonomously determine their own trading fees. Notably, unlike other Ethereum scaling solutions, Immutable is impervious to 51% attacks, as it is not a centralized side chain, instead leveraging the native security of the Ethereum blockchain. By harnessing zk-rollups, Immutable enables assets to be traded on the second-layer blockchain, while the validity proof of each transaction is securely stored on the layer-one blockchain, namely Ethereum.
Immutable opted to remain on Ethereum as a first-layer solution, driven by the team’s conviction that Ethereum best embodies the philosophy of trustless, decentralized asset ownership. As the team succinctly puts it, Ethereum has consistently prioritized decentralization over short-term scalability upgrades, despite grappling with the challenges of exorbitant gas fees and network congestion, thereby solidifying its position as the premier blockchain for NFT projects to build upon.
Acquiring Immutable (IMX): A Comprehensive Guide to Exchanges and Marketplaces
IMX is proudly listed on esteemed cryptocurrency exchanges, including OKEx, Huobi Global, Bybit, and Bitget.
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