Immutable

Immutable X is a Layer 2 scaling network built on top of Ethereum, designed specifically to make minting, trading, and owning non-fungible tokens faster and cheaper than is possible on Ethereum's base layer. It targets game developers and players who need to handle large volumes of in-game assets without paying high transaction fees or waiting for slow confirmations. IMX is the native token of this network, used to participate in the system and pay for certain network activity.

Immutable X uses zero-knowledge rollup technology, meaning it bundles many transactions together and submits a compact cryptographic proof of their validity back to Ethereum for final settlement, inheriting Ethereum's security without requiring every action to be processed there individually. The network has since expanded into a zkEVM environment, allowing it to run smart contracts compatible with Ethereum's standard development tooling. IMX tokens are used within the protocol for fee payments and for staking, which grants holders a share of protocol fees collected from activity on the network.

The protocol collects fees from activity on the Immutable zkEVM chain, generated by users interacting with applications such as NFT marketplaces and games. Over the trailing 30 days, the network collected 528.79 in fees, and over the trailing 12 months it collected 52,211.36. Annualizing from the trailing 30-day figure produces an annualized fee rate of 6,433.61. Fee volume grew by 165.38 over the most recent 30-day period, though the absolute amounts remain modest relative to the network's market capitalization of approximately 113 million dollars.