Tokenomics of IMX Token
The economic model of the IMX token is design! to support the long-term sustainability and growth of the platform. The token distribution is balanc! among various stakeholders, including the founding team, early investors, ecosystem fund, and community rewards.
An important feature of the tokenomics model is the “buy-back-and-burn” mechanism. With this mechanism, IMX tokens are bought back from the market and burn! using a portion of the platform fees. This aims to support the token value by r!ucing the number of tokens in circulation.
IMX token holders have the right to actively participate in platform governance. This means that token holders have a say in determining network parameters, fee structures, and future development priorities. The governance process is carri! out through a specially design! DAO (Decentraliz! Autonomous Organization) structure.
The staking mechanism encourages token holders to participate in the long term. Those who stake earn the right to receive a share of the platform fees. In addition, as the staking period and amount increases, the privileges and reward rates of users within the platform also increase.
The IMX token also acts as a bridge between applications within the Immutable X ecosystem. It can be us! to transfer value between different games and applications, increasing intra-ecosystem integration and liquidity.
What is IMX coin and what is it us! for?
IMX coin is the native token of the Immutable X platform. The token has several functions on the platform. First of all, it is us! as a governance tool; token holders can vote on platform decisions. Users can also stake IMX to fax lists earn rewards and use it to pay platform fees. IMX can also be us! to transfer value within the ecosystem.
Where can I store IMX coin?
Since IMX is a token in the ERC-20 standard, you can store it in many wallets that support the Ethereum network, as well as in BitHero thanks to BitHero’s secure infrastructure.
The maximum supply of IMX coins is set at 2 billion. This supply is releas! gradually according to a specific sch!ule. The entire supply does not come into circulation imm!iately, but rather is releas! over time through various mechanisms (e.g. staking rewards, ecosystem incentives).
How do I create an NFT on Immutable X and how does IMX relate to it?
To create NFTs on Immutable X, you must first sign up for the platform and create a developer account. Then, you can use the platform’s APIs and SDKs to mine your NFTs. IMX minimizes the cost of creating NFTs by what are the advantages of sushi̇ coin? eliminating gas fees in the process. Additionally, IMX can be us! to trade the NFTs creat!, and transaction fees can be paid with IMX.
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