Immutable X to commence staking campaign

Ethereum’s first Layer-2 scaling solution, Immutable X, has announced plans to commence its next staking campaign by July 31 on Twitter. As revealed, the staking campaign would run for two weeks and end on the 13th of August at exactly 23:59 UTC.  

As revealed, the staking campaign will manifest on Layer 2. However, the popular layer 2 scaling solution reaffirms its commitment to continuously offering staking incentives for its users. It promises to work towards improving customers’ experience. 

In addition, Immutable X stated that users must possess at least ten IMX tokens within the staking period, which according to the protocol, will enable users to earn rewards. 

Similarly, Immutable X introduced a reward calculator. As revealed, this calculator will assist users in estimating their incentives. Additionally, Immutable X announces its mission to invest in a long-term and sustainable procedure for staking. Also, it noted that rewards must be equal to the original means of value to guarantee that the protocol and token remain resilient.

Immutable X also announced a technique to ensure that the goal of aggregating rewards equals the actual source of value. The firm stated the estimations of IMX staking rewards are specified by protocol fees amassed through NFT transactions on its platform, hence, sustaining a reasonable means of rewards through NFTs transactions on the protocol. 

Reportedly, Immutable X allotted about 50% of its total IMX token supply for community development to aid the protocol’s adoption. Also, it noted that its users are eligible to enjoy the recorded successes of the protocol.

Recall that a popular GameFi company identified as GameStop announced a partnership with Immutable X. As revealed, both companies were said to have raised over $100 million to support the development of the GameFi industry. GameStop noted it is banking on Immutable X zero gas fee to trade and mint NFTs in a carbon-neutral environment.

According to Coinmarketcap, Immutable X native token, IMX token trades at 0.8972. It also records a live market capitalisation of $211,096,840.

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