Back to News

Immutable X Launches Its IMX Staking Feature

Twitter icon  •  Published 2 years ago  •  Hassan Maishera

The Immutable X team announced via Twitter on Tuesday that it has launched IMX staking for its users.

The Immutable X team announced via Twitter on Tuesday that it has launched IMX staking for its users. Its users can move their IMX tokens to the Immutable X layer 2 wallets and the staking will commence on July 1. The first phase of staking will begin with automatic rewards for active IMX users at the end of each cycle, before soon switching to a self-custodial staking process with an interactive dashboard in the second phase, the team added. 

Immutable X is an L2 scaling solution for non-fungible tokens (NFTs) on Ethereum, with instant trading, massive scalability, and zero gas fees for minting and trading with shared security with the Ethereum mainnet. IMX is down by less than 1% today and is trading at $0.877 at press time.

Next article TORN Soars Over 500% as Court Overturns Tornado Cash Sanctions

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.