The 4 token use cases of $IMX are: Transaction fees, Staking, Governance, Gas token--Transaction fees

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NingNing
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1 year ago

The 4 Token use cases for $IMX are: Transaction fees, Staking, Governance, and Gas token.

  • Transaction fees. 20% of the transaction fees on the Immutable protocol must be paid using $IMX. If the user's address does not have $IMX, the protocol will automatically convert 20% of the transaction fees into $IMX on the open market.

  • Staking. Protocol transaction fee income will be rewarded to users staking $IMX, with a distribution every two weeks. The prerequisite is having traded NFTs on the Immutable X order book during the period.

  • Governance. $IMX holders can participate in protocol governance through proposals and voting.

  • Gas token. After the launch of the L2 Immutable ZkEVM mainnet, $IMX will serve as the native gas token for that game-specific L2.

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