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What is the issue volume of IMX coins? One article to introduce the application scenarios of IMX coins
With a total issuance of 2 billion IMX tokens, the platform provides various applications, including transaction fee payments, staking for rewards and governance participation.
Oct 12, 2024 at 10:23 pm
What is the issuance amount of IMX tokens?
Immutable X (IMX) is a layer-2 scaling solution for the Ethereum blockchain, designed to improve the scalability and cost-effectiveness of NFT transactions. IMX tokens are the native utility tokens of the Immutable X ecosystem and are used for various purposes, such as paying transaction fees, staking, and governance.
The total issuance amount of IMX tokens is 2 billion, with the initial circulating supply being 527,181,971 IMX (as of August 2023).
Application Scenarios of IMX Tokens
IMX tokens have a wide range of applications within the Immutable X ecosystem, including:
- Transaction fees: IMX tokens are used to pay for transaction fees on the Immutable X network, which are significantly lower than those on the Ethereum mainnet.
- Staking: IMX tokens can be staked to earn rewards and participate in the governance of the Immutable X protocol. Stakers receive a portion of the transaction fees generated on the network, as well as voting rights on protocol updates and development proposals.
- Governance: IMX token holders have the right to participate in the governance of the Immutable X protocol through the Immutable X DAO (decentralized autonomous organization). IMX token holders can vote on proposals related to the development and operation of the Immutable X protocol.
- Gas-free NFT trading: IMX tokens can be used to enable gas-free NFT trading on the Immutable X marketplace. By using IMX tokens, traders can avoid paying transaction fees when buying and selling NFTs on the marketplace.
- Rewards for liquidity providers: IMX tokens can be used to incentivize liquidity providers on the Immutable X decentralized exchange. Liquidity providers can stake their IMX tokens to earn rewards and help support the stability of the exchange.
- Access to exclusive features: IMX tokens can be used to access exclusive features and benefits within the Immutable X ecosystem, such as early access to new NFT drops and special promotions.
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