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Token vesting delayed by another year, remaining immutable

Token vesting delayed by another year, remaining immutable

In a move that aims to ensure the long-term sustainability of Immutable, the developers of Ethereum layer-2 NFT scaling solution, it has been announced that the vesting of 125 million IMX tokens will be delayed until July 2024. This decision, as stated by Robbie Ferguson, co-founder of Immutable, will see the tokens unlocked gradually on a monthly basis instead of all at once. The delay in vesting is seen as a strategic move to enhance the project’s viability and stability.

Immutable currently boasts over 200 funded games built on its platform, and Ferguson revealed that the company’s treasury has enough resources to support its 270 staff for the next four years. Out of the total 2 billion tokens, 52% are reserved for project development and ecosystem incentives.

Looking ahead, Immutable has plans to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) and cross-rollup liquidity. Additionally, its ecosystem blockchain games are set to debut in the coming months. Ferguson emphasized the importance of these games in driving user adoption and shaping the future of web3.

In March 2022, Immutable successfully raised $200 million in its Series C funding round, with notable investors including Temasek, Animoca Brands, Tencent, Arrington Capital, and Princeville Capital. The funding is intended to further improve Immutable’s layer-2 scaling solution on Ethereum and expand the capabilities of the Immutable Gaming Studio.

Summary:

– 125 million IMX tokens allocated for developer rewards will be vested monthly starting July 2024.

– The delay in vesting aims to enhance Immutable’s long-term sustainability.

– Immutable has over 200 funded games and a treasury that can support its staff for four years.

– 52% of Immutable’s tokens are reserved for project development and ecosystem incentives.

– The project plans to launch zero-knowledge Ethereum Virtual Machine (zkEVM) and cross-rollup liquidity.

– Immutable’s ecosystem blockchain games are set to be released in the next 12 months.

– The company raised $200 million in its Series C funding round to improve its layer-2 scaling solution and expand the Immutable Gaming Studio.

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