Ethereum

Immutable

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In July 2024, the vesting of 125 million IMX tokens allocated for developer rewards will commence on a monthly basis. Immutable, a layer-2 nonfungible token (NFT) scaling solution on the Ethereum network, has decided to defer the vesting of these 125 million IMX tokens, valued at $67 million as of the current publication, until July 2024.
Robbie Ferguson, co-founder of Immutable, disclosed this strategic move on October 17, emphasizing its contribution to the long-term sustainability of the platform. Ferguson stated, “When we ultimately choose to unlock these tokens, the process will follow a linear monthly vesting schedule over time, as opposed to a single, abrupt release.”
Ferguson also shared insights into the current status of Immutable, highlighting the existence of more than 200 funded games developed on the platform. Simultaneously, he asserted that Immutable’s treasury boasts a four-year runway to support its 270-strong team. Presently, 52% of the 2 billion <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s in Immutable’s possession are earmarked for project development and ecosystem incentives.
Looking ahead, the project envisions the launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) alongside the introduction of cross-rollup liquidity. Additionally, the debut of blockchain games within its ecosystem is on the horizon. According to Ferguson, “The games that received funding two years ago are set to go live in the next 12 months. We anticipate significant success, with the user adoption curves of web3 being shaped not only by prominent exchanges but also by the success of major games.”
In March 2022, Immutable secured $200 million in a Series C funding round led by Singaporean state-owned investment firm Temasek. Other participants included Animoca Brands, Tencent, Arrington Capital, and Princeville Capital. At that time, the project clarified that the funds would be directed towards enhancing Immutable’s layer-2 scaling solution on Ethereum and expanding the Immutable Gaming Studio.
The post <a rel="noopener noreferrer nofollow" title="Immutable postpones" href="https://thebittimes.com/tag/immutable-postpones.html">Immutable postpones</a> by a year the $67 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="vesting" href="https://thebittimes.com/tag/vesting.html">vesting</a>. appeared first on BitcoinWorld.
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/immutable-postpones-by-a-year-the-67-million-token-vesting-tbt67064.html">https://thebittimes.com/immutable-postpones-by-a-year-the-67-million-token-vesting-tbt67064.html</a>

Immutable postpones by a year the $67 million token vesting.

TheBitTimes

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