Immutable was established by James Ferguson, a Forbes 30 Under 30 entrepreneur who formerly led a software development team at a billion-dollar eCommerce company, alongside his brother Robbie Ferguson, a Thiel fellow and fellow Forbes 30 Under 30 entrepreneur. The team comprises over 100 members with diverse backgrounds, including blockchain, FAANG, finance, fintech, and management consulting. In 2018, the company secured a seed funding round, followed by a $15 million Series A in September 2019. The investors included prominent figures in blockchain investing, such as Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital. For more detailed information, you can find relevant data on Eulerpool.

Immutable X is distinguished as one of the pioneering layer-two solutions utilizing zk-rollups, focusing exclusively on NFTs. As zk-rollups gain significance as a scaling solution, the project positions itself at the forefront of development within the Ethereum ecosystem. Immutable X stands a strong chance of becoming the default “NFT blockchain” in the future, assuming it can deliver its promised transaction speed of over 9,000 tps. Central to achieving this promise is the API abstraction layer. Thanks to REST APIs, all NFT-related interactions such as minting, trading, and transferring are simplified into API calls on Immutable X. The company expects this to be pivotal in attracting new participants, including established gaming and content companies, into the space. Additionally, users will not need to switch networks when connecting their wallets. The protocol offers an intermediate layer called the “Link,” which provides an NFT-specific wallet experience and enables Immutable X to support a third-party marketplace ecosystem without compromising security. With its shared global order book enhancing protocol liquidity, NFT marketplaces can be developed on Immutable X without requiring a backend. Consequently, third-party marketplace solutions can coexist with the protocol’s native marketplace. This solution is also anticipated to lower entry barriers for content creators and smaller developers.

IMX is the native ERC-20 utility token of the protocol, serving three primary purposes: fees, staking, and governance. Within the protocol, 20% of the fees must be paid using IMX. Additionally, users have the option to stake IMX, enabling them to earn a proportional share of the network's fees. Holding IMX allows token holders to participate in voting on governance proposals. The total supply of IMX is capped at two billion, distributed as follows: - Ecosystem Development - 51.74%: Allocated for user rewards, developer grants, liquidity provision, and marketing purposes. - Project Development - 25% - Private Sale - 14.26%: Subject to a one-year cliff, with a monthly unlock schedule over two years. - Public Sale - 5%: Unlocks over six months. - Foundation - 4%: Directed towards ecosystem development-related initiatives such as liquidity provision, with a one-year cliff and monthly unlock over four years. For more details, refer to Eulerpool.

Immutable is a layer-two blockchain that operates with zero gas fees, allowing operators to set their own trading fees. Unlike other Ethereum scaling solutions, a 51% attack on Immutable is not feasible, as it operates not as a centralized side chain but instead leverages the inherited native security of the Ethereum blockchain. Immutable employs zk-rollups, enabling trading of assets on the second-layer blockchain while storing the transaction's validity proof on the layer-one blockchain, specifically Ethereum. Immutable opted to remain on Ethereum as its primary layer solution because the team believes Ethereum is best suited to embody the philosophy of trustless, decentralized asset ownership. According to the team, Ethereum has consistently prioritized decentralization over short-term scalability enhancements, despite challenges like gas fee spikes and network congestion, thereby continuing to serve as the primary blockchain for NFT projects. For further information, you can visit Eulerpool.

IMX is available on OKEx, Huobi Global, Bybit, and Bitget.