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Sunday, January 23, 2022

Immutable Shares Update on IMX Airdrop

This post was originally published on Play-to-earn

Immutable has shared an update and a reminder about their IMX token airdrop, that they will hand out to users of their Immutable X layer-2 solution. The IMX Play to Earn campaign will end next week, so you will have one more week to move your Gods Unchained cards over and play a game.

The snapshot for the Alpha rewards will take place on September 21st, at 11:59pm UTC. There will be a claiming process to obtain your rewards. Keep in mind, users from the USA will not receive IMX but earn USDC instead. There will be a pricing mechanic that changes a bit.

In short, there are two airdrops. There’s the retrospective airdrop, for those who played one game, had their wallet connect and NFTs transferred before July 22nd, 2021. And there’s the alpha airdrop, using the same criteria but with a snapshot date of September 21st. So, that’s four days from now.

Users will earn rewards based on the amount of assets they hold in their wallet at the time of the snapshot. When the claiming process goes live, users will have 90 days to get their IMX rewards.

What is IMX

The IMX token functions as a utility token on the Immutable X scaling solution. As you might know, Immutable created Immutable X to make transferring NFTs a lot fast and cheaper. Different from for example Polygon, Immutable X taps directly into the security of the Ethereum blockchain, therefore truly earning the label ‘layer-2 solution’.

There will only be 20 million IMX on the market. On Immutable X they will use IMX in three different ways:

  • Fees – 20% of all transaction fees will be paid using IMX. When you don’t have IMX, it will automatically make a token swap in the background.
  • Staking – When you have IMX, you can stake it to earn more. The more you stake, the more you earn.
  • Governance – Those who hold IMX tokens can vote on community governance decisions.

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