All transactions in without disclosing their exact details. This process significantly increases transaction throughput while maintaining the security guarantees of the underlying Ethereum blockchain. Immutable X uses zk-rollups to enable it to process over 9,000 NFT transactions per second, demonstrating a significant leap in scalability.

Asset Minting: On Immutable X, assets can be minted directly on Layer 2 while retaining the security of the Ethereum mainnet (Layer 1). This approach means users can create NFTs with zero gas fees, which is a significant improvement over the traditional NFT minting process, which can be very expensive due to Ethereum’s gas fees. This feature not only makes NFT creation easier, but also opens up new possibilities for NFT applications and use cases.

Sign transactions: Immutable X introduces an innovative method of signing transactions. To ensure security and comply with Ethereum standards, users on Immutable X require STARK-friendly key pairs. This key pair originates from the user’s Ethereum wallet, ensuring a seamless and secure link between their Layer 1 and Layer 2 activities. This transaction signing method is critical to maintaining the integrity and security of transactions on the Immutable X platform, while providing a user-friendly experience.

Fees: Immutable X charges a 2% fee on all major asset sales and NFT transactions. This fee model aligns incentives among application developers, marketplaces, and traders within the ecosystem. Additionally, the marketplace on Immutable X can set fees on top of the base fee. Asset originators can also choose to implement royalties on their NFTs, allowing them to earn a percentage of each subsequent sale of the asset. This fee structure not only serves as a revenue source for the platform, but also incentivizes continued participation and investment in the Immutable X ecosystem.

IMX token

The IMX token has multiple functions within the Immutable X ecosystem. First, it incentivizes activities that benefit the network, such as trading and liquidity provision. The utility of the IMX token is critical to aligning the interests of various stakeholders including traders, creators and markets, ensuring that all parties benefit from the development and success of the protocol.

The total supply of IMX tokens is capped at 2 billion. The distribution of these tokens supports the development of the ecosystem, with 51.72% dedicated to this purpose. This distribution includes rewards to users, developer grants, liquidity provision, and marketing campaigns. In addition, 25% of the tokens are used to develop the Immutable X protocol, 13.86% are used for private investors, 5.42% are used for public sales, and 4% are used for ecosystem development-related initiatives, mainly to provide liquidity.

In terms of utility, the IMX token has multiple applications:

Fees: Users must pay 20% of the Immutable X protocol fees in IMX tokens. The fee can be in IMX or automatically converted from the trading currency.

Staking: IMX tokens received in the fee capture mechanism will be pooled as staking rewards. Users who stake IMX tokens on Immutable

Governance: IMX token holders have the right to participate in decentralized governance, voting on proposals related to token reserves, developer funding, and token supply changes.

Ecosystem Development: The IMX token is critical to incentivize and drive ecosystem development. Users can earn IMX tokens by participating in pro-network activities, which not only promotes usage of the Immutable X platform but also encourages broader participation and investment in the ecosystem. Developer grants, funded through ecosystem development allocations, are designed to stimulate innovation and development of the platform, further promoting the growth and sustainability of Immutable X.

in conclusion

The Immutable X white paper provides an insightful roadmap for NFT revolution on the Ethereum blockchain, leveraging state-of-the-art technology to expertly address current challenges. The platform’s groundbreaking features like the ZK-Rollup scaling engine, user-friendly API abstraction layer, and innovative tools like NFT-enabled wallets and platform SDK redefine scalability and user engagement. The IMX token is at the heart of this ecosystem, incentivizing participation and ensuring a harmonious alignment of interests among all parties involved. Immutable is the driving force behind the platform, bringing strong expertise and a forward-thinking approach to digital asset management. As we witness the continued evolution of the blockchain and NFT landscape, Immutable X has clearly positioned itself as a key influencer poised to shape the future of NFT trading and digital ownership.