IMX Staking Will Begin on Immutable zkEVM at 00:00 UTC on June 19

On June 12, Immutable revealed that IMX staking will begin on Immutable zkEVM at 00:00 UTC on June 19. This timing also marks the end of staking

Immutable announced that IMX staking on Immutable zkEVM will commence at 00:00 UTC on June 19, kicking off a new chapter in the platform's evolution. This announcement marks the conclusion of staking activities on Immutable X, with users' staked funds being automatically unstaked and returned.

Those wishing to continue their staking journey and reap the benefits will need to manually migrate their tokens and restake them on zkEVM by 11:59 UTC on June 18. This crucial step is part of the broader merge between Immutable X and zkEVM, which aims to integrate both platforms seamlessly.

The process of transferring tokens will vary based on the specific wallet used by the user and their preferred bridging tool. For optimal guidance, users are advised to consult the Immutable support portal.

Reward Cycle and Eligibility Conditions for IMX Staking on zkEVM

With the transition to zkEVM, there will be a two-week reward cycle for IMX staking, commencing from June 19. To be eligible for staking rewards, IMX token holders must actively participate by trading at least one NFT within a cycle.

The amount of reward will be determined by the value of the staked time and the time period for which it remains active. Furthermore, trading volume from zkEVM orderbook integrations will be assessed to calculate the reward.

At the start of each new cycle, the time used to calculate each staker’s portion of the reward will reset. From the 2% trading fee on NFT sales, 20% will go to stakers, and the remaining 80% will be used for liquidity provision.

This design is intended to encourage active participation from token holders through both staking and trading activity on zkEVM.

Those who wish to withdraw their IMX from staking can do so at any time. However, it's important to note that early withdrawal from an active cycle will result in a reduced reward payout.

Only the duration of time that IMX is actively being staked within an cycle will be used to calculate the final reward amount. This strategy is designed to incentivize users to make a sustained commitment to the platform and engage more deeply with the marketplace.

Payouts to stakers will transpire every two weeks, taking into account the measured staking behaviour and trading activity.

Bridge Options Open for Migrating IMX to zkEVM Network

Two primary bridge methods are available for transferring IMX from Immutable X to zkEVM networks. Users can opt for the Layerswap tool, facilitating direct network transfers. Alternatively, they can choose to bridge via the Ethereum mainnet before transferring to zkEVM.

Once assets arrive at zkEVM, the process of staking can begin through the updated staking interface. A range of wallets are supported, including hardware devices, Metamask, and the Immutable Passport solution, catering to diverse user preferences and security needs. Each bridging method will ensure the seamless maintenance of asset integrity during the network transition.

The estimated timeline for completing the bridging process may vary depending on the congestion levels on each network.

Immutable Merge Aims to Integrate Game and Token Ecosystems

The broader goal of the Immutable X and zkEVM merge is to integrate both platforms' game assets, token ecosystems, and user bases.

Since its early 2024 debut, zkEVM has become a chain of choice for popular titles like Guild of Guardians, which recently announced its migration. To date, zkEVM has executed nearly 150 million transactions, highlighting its significant usage.

The chain offers complete support for EVM smart contracts and ERC1155 tokens, enhancing the flexibility of trading assets. Developers will benefit from optimized liquidity mechanisms and simplified deployment options on the merged chain.

This single environment aims to maximize efficiency for both builders and end users in the long run.

Critical Asset Migration and Regulatory Closure for Immutable

The automatic migration of assets from Immutable X will be based on the specific wallet used by the user. For Passport users, their assets will be accessible in their zkEVM Passport, while those using other wallets can expect to find them at the same address on zkEVM.

Those wishing to retain manual control over their assets can choose to bridge them to Ethereum L1 before transferring them to zkEVM.

Moreover, games and marketplaces operating on Immutable X will need to update their contracts to function seamlessly on zkEVM. To facilitate this transition, Immutable will deploy equivalent contracts for existing assets and will cover the associated gas fees.

This move to unify the platform comes after a period of regulatory scrutiny. Recently, the U.S. Securities and Exchange Commission closed its investigation into Immutable without any planned enforcement action.

This marks the conclusion of a five-month review, which commenced with a Notice issued in October 2024 regarding the IMX token.