In case you missed it: Eddie Burrowes (SVP of Tokens for Immutable) hosted an AMA on the ImmutableX subreddit, regarding the circulating supply for tokens (IX, GODS, GOG) last week.
We received some great questions from the ImmutableX community about the future of the $IMX token — here’s everything you missed:
How many $IMX tokens will be in CS By Jan. 2024?
By Jan 2024, there will be approx. 1,456m tokens in circulation. This assumes that we (Immutable) choose not to re-lock our tokens again. Breakdown by supply category:Ecosystem Dev: 756mProject Dev (Immutable): 269mPrivate sale: 242mPublic sale: 108mFoundation reserve: 80m
What’s the % of $IMX entering CS by year?
By year:2022: 363% (50% of this is driven by ecosystem development which results in growth for Immutable X!)2023: 58%2024: 24%2025: 11%
Will any $IMX never be in CS? What is the real CS and market cap ? Is it the real one on CMC (235 million)? Or 570 million on Coingecko?
Real CS and market cap is on Coingecko using the methodology we outlined here (https://tokenomics.immutable.com/defining-circulating-supply-b7624c48f6c9). We are working with CMC team to using our new definition.
Will you give gifts e.g. airdropping NFTs to $IMX stakers? Will pre-sale rights be given for games using the platform?
Great questions, as an $IMX staker it would be awesome to have some additional utility and access to exclusive NFTs. This is something we are thinking about and prioritising against all the other things we could be doing to bring value to the token. Hearing that this is something the community wants helps a lot!
Will the stake rate be increased to reduce the circulating supply?
We don’t consider staked tokens to reduce circulating supply (not historically, or in this new standard), as they are not locked up.We are always reviewing incentives that drive the optimal balance of staking, trading, and other value-added activities on our ecosystem.
I know we are in a bear market but when will the $IMX token start to rise?
Good question!I also wonder when ETH, BTC, and the rest of the market will rise :)The mission of ImmutableX is to bring digital ownership to the world through NFTs. And we believe gaming is the best way to do that. We’re in for the long-run and we will not rest until we achieve this mission, no matter the market.In fact, bear markets are for builders and ImmutableX is one of the best builders in web3. We announce and partner with top games every week. Excited to have community members who believe in the mission!
You funded a lot of projects, but what did they give you? They didn’t give anything to $IMX token holders!
Funding great projects ultimate benefit ImmutableX and $IMX holders.We win when trading volume increases (which is how protocols work). The only way to increase trading volume is to have content and NFTs that people trade. When we have more trading, stakers benefit and get more rewards. It’s all connected.Which is why we have IMX rewards focused on all these:
– Grants for more games
– Trading rewards for more trading
– Staking rewards for hodlersIt’s all a big system, and HODLers ultimately benefit!
How long will these tokens be locked, these tokens will be unlocked?
You can refer to the Tokenomics portal or Whitepaper to learn more about the unlock schedule of tokens.On the Supply Schedule page, you’ll see a full breakdown of each allocation item (Ecosystem Development, Project Development, Private Sale, Public Sale, Foundation Reserve) with their corresponding unlock cliff and unlock length.
The token supply has increased, but will you announce big partnerships and keep the price in balance?
Technically, supply is not being added. We are simply updating the way we report on circulating supply to include unlocked tokens that have not been used. These tokens were already unlocked according to the schedule in the Whitepaper.On partnerships, we are constantly looking to drive the best partnerships for the Immutable ecosystem and will announce these partnerships from time-to-time when readyFor example in ImmutableX we have game announcements and partnerships WEEKLY:
– Immortal Game — raised $12m
– Metakey — with DCLBlogger
– 2-year partnership with NFT.NYC
Do you plan to launch on another network i.e. Polygon?
Interesting question! Nope, we have no plans to launch on another network at the moment. ImmutableX also has a cross-rollup strategy! Our CTO and co-founder has a couple of great articles tackling exactly this:
According to the data on this site, the supply will be 700 million on November 11, is it true?
Some of their numbers are slightly wrong. We are working with them to get the right numbers. On November 11 the circulating supply will be approximately 715m. This excludes 125m project development tokens, owned by Immutable, that we are re-locking for 1 year to show the community we are long term believers in IMX.
Thank you for all your questions regarding the circulating supply of the $IMX tokens! If you have any other questions, please post them to r/ImmutableX with the question flair, or pop into our Discord server! 👇
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