Hassan Maishera
The Immutable X team announced via Twitter on Monday that it has activated protocol fees. This latest development is the final step ahead of Immutable X’s staking launch next month. The team explained that the protocol fee isn’t a gas fee, nor do you need to pay it in IMX directly. Rather, it is a simple exchange fee on transactions, paid in the currency of the trade. Part of this fee is allocated to Immutable, and part to the $IMX staking rewards pool.
Immutable X is an L2 scaling solution for non-fungible tokens (NFTs) on Ethereum, with instant trading, massive scalability, and zero gas fees for minting and trading with shared security with the Ethereum mainnet. IMX is up by 28% today and is trading at $1.151 at press time.
