Immutable X is a layer-2 scaling solution built on the Ethereum blockchain, designed to enhance the performance of non-fungible tokens (NFTs) by offering instant confirmations and low gas fees.
Immutable X provides users with a choice between two distinct layer-2 solutions for their transactions: ZK Rollups and Validium. Immutable X refers to this selection process as "Volition." MORE ABOUT ZK ROLLUPS IN LINK BELOW
IMX is an ERC-20 utility token designed to reward pro-network behaviors such as trading, liquidity provision, and application development on Immutable X. IMX is currently used for three main purposes: • Fees: 20% of Immutable’s protocol fee must be paid in IMX tokens. • Staking: IMX tokens received as part of the fee capture mechanism described in 6.1 will be sent to the “staking rewards pool”. • Decentralized Governance: Token holders can be able to vote on token-related proposals via decentralized governance.
Source: https://iq.wiki/wiki/immutable-x/ Show Less
