Hassan Maishera
The Immutable X team announced via Twitter on Tuesday that it has launched IMX staking for its users. Its users can move their IMX tokens to the Immutable X layer 2 wallets and the staking will commence on July 1. The first phase of staking will begin with automatic rewards for active IMX users at the end of each cycle, before soon switching to a self-custodial staking process with an interactive dashboard in the second phase, the team added.
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 down by less than 1% today and is trading at $0.877 at press time.
