What is Immutable?
Immutable is a Layer 2 blockchain solution launched in 2018 that focuses on scaling Ethereum for NFTs and gaming applications. Built on top of Ethereum, Immutable leverages the StarkEx zero-knowledge rollup technology, developed by StarkWare, to deliver high throughput and low-cost transactions while inheriting Ethereum’s security. Its primary use cases include powering NFT marketplaces, enabling play-to-earn games, and supporting digital asset trading with minimal fees and carbon neutrality. Immutable’s native token, IMX, facilitates utility and governance within its ecosystem.
The platform is distinguished by technical features such as instant trade confirmation, zero gas fees for NFT minting, and massive scalability without compromising user custody. Immutable operates via a permissionless proof-of-stake mechanism, and its ecosystem partners include major Web3 gaming studios and NFT projects. Key entities in the Immutable ecosystem are James Ferguson and Robbie Ferguson (co-founders), StarkWare (technology partner), StarkEx (core protocol), IMX (native token), and the ERC-721 and ERC-1155 token standards, which underpin NFT functionality. Solidity, Ethereum’s native programming language, is used for smart contract development on Immutable.
Who are the founders of Immutable?
Immutable was founded in 2018 by James Ferguson and Robbie Ferguson, two brothers from Sydney, Australia. Both founders previously worked at eCommerce and fintech startups before launching Immutable, originally known as Fuel Games. Their vision was to create scalable blockchain infrastructure for mainstream digital asset ownership and gaming. The company quickly gained traction, evolving from early blockchain games to building the Immutable X protocol in collaboration with StarkWare.
Immutable project milestones
- 2018 — Immutable (originally Fuel Games) founded by James and Robbie Ferguson in Sydney.
- 2019 — Launch of "Gods Unchained," one of the first major blockchain-based trading card games, on the Immutable platform.
- 2021 — Mainnet launch of Immutable X, the Layer 2 protocol for NFTs and gaming, powered by StarkEx zero-knowledge rollups.
- 2021 — IMX token released through a public sale and introduced as the core utility and governance token.
- 2022 — Strategic partnerships announced with major gaming studios and NFT projects, expanding Immutable's ecosystem.
- 2023 — Upgrades to protocol scalability and integration of ERC-1155 support for advanced NFT functionality.
How many IMX coins are in circulation?
IMX has a maximum supply capped at 2,000,000,000 tokens. The circulating supply of IMX fluctuates as tokens are unlocked based on the project's vesting schedule for team, ecosystem, staking, and rewards allocations. The current circulating supply can be checked on major market data providers such as CoinGecko and CoinMarketCap for the latest figures. IMX is subject to a fixed supply model, with new tokens released according to predetermined distribution plans.
Tokenomics of Immutable (IMX)
IMX is the native utility and governance token of the Immutable protocol. Its core utility includes paying transaction fees on the Immutable X network, incentivizing ecosystem development, and enabling decentralized governance through community voting. IMX holders may stake their tokens to earn rewards from protocol fees, subject to periodic staking program updates. The token distribution model allocates portions to the team, investors, ecosystem rewards, and user incentives, with a fixed maximum supply of 2 billion IMX tokens.
IMX follows a deflationary model, as a portion of network fees are burned or distributed to stakers, reducing circulating supply over time. Transaction fees on Immutable X are paid in IMX, which can be earned or purchased on various crypto exchange aggregators. Governance rights are granted to IMX holders, allowing them to participate in protocol upgrade decisions and ecosystem proposals. The tokenomics are designed to align incentives between users, developers, and network validators.
Risk disclaimer: Cryptocurrency markets are highly volatile. Always do your own research before making any swap or investment decision.
Key features of Immutable
- Layer 2 scalability: Uses StarkEx zero-knowledge rollups from StarkWare to process thousands of transactions per second with minimal gas fees.
- Proof-of-Stake security: Leverages Ethereum’s underlying Proof-of-Stake consensus for settlement and security, inheriting its robustness.
- Zero gas NFT minting: Enables users and developers to mint NFTs on Immutable X with no gas fees, reducing barriers for digital asset creation.
- Advanced NFT standards: Supports both ERC-721 and ERC-1155 token standards, expanding possibilities for gaming and collectibles.
- Interoperability: Facilitates seamless integration with Ethereum wallets and DeFi protocols through standard bridges and APIs.
- Decentralized governance: IMX token holders can propose and vote on protocol changes, ensuring community-driven development.
Average fees on the Immutable network
Fees on the Immutable network are typically low due to the efficiency of StarkEx rollup technology. Most standard transactions, such as NFT trades and transfers, cost only a fraction of a dollar as of recent network activity. Fee levels may vary depending on network congestion, transaction complexity, and the type of operation (e.g., minting, trading, withdrawing to Ethereum mainnet).
Immutable employs a hybrid model where users pay fees in IMX tokens, and some operations may incur additional Ethereum gas costs if bridging assets. Factors influencing fees include the volume of transactions processed in a batch and current Ethereum gas prices, although Layer 2 rollups generally keep these costs predictable and in the low tier.
IMX crypto wallets
IMX is supported by a range of crypto wallets, offering users multiple storage and transaction options on both desktop and mobile. These wallets allow you to store, send, receive, and swap IMX tokens and interact with Immutable-powered applications.
- MetaMask — Popular browser extension wallet compatible with Ethereum and Immutable X Layer 2; supports NFT and token management.
- Immutable Wallet — Native wallet designed specifically for interacting with Immutable X applications and NFT marketplaces.
- Trust Wallet — Mobile multi-coin wallet with a built-in DApp browser, supporting IMX and thousands of other assets.
- Ledger — Hardware wallet known for high security; IMX can be managed via Ledger Live when connected to MetaMask or compatible interfaces.
- Coinbase Wallet — Mobile and browser extension wallet supporting IMX, ERC-20 tokens, and direct NFT management.
Why exchange Immutable on SwapSpace?
- Aggregator model: SwapSpace is a crypto exchange aggregator that compares IMX rates from multiple partner exchanges in real time, helping you find the best available exchange offer at the moment of your swap.
- Non-custodial process: Your IMX is sent directly to your wallet by the integrated exchange provider; SwapSpace never holds your funds at any stage.
- No sign-up or registration: You can exchange Immutable or swap IMX instantly without creating an account, submitting an email, or passing KYC procedures for crypto-to-crypto swaps.
- Fixed and floating rate options: Choose between fixed rate for price certainty, or floating rate for current market pricing during your IMX exchange.
- Wide coin coverage: SwapSpace supports thousands of cryptocurrencies, allowing you to swap IMX with a wide range of other coins in one place.
- 24/7 live support: Access to live customer support at any time if you encounter issues or have questions about your IMX swap.
- Instantly routed swaps: Most IMX exchanges are completed within minutes after your deposit reaches the network, thanks to the aggregator’s efficient routing system.
Cryptocurrency swaps carry inherent risks. Always check network details and rates before you exchange IMX or swap Immutable tokens.
