Latest Update: 16 September 2021 at 12:20 AM (AEST)
Currently, to ensure IMX is held by those who have contributed the most to Immutable X over its Alpha period, we are running a Play to Earn campaign, where users can earn IMX by trading on the protocol. Initially, these rewards were available to all users of Immutable X.
However, our legal team has recently advised us that though the Rewards are fully compliant, given the ongoing regulatory uncertainty in the US, we should not distribute IMX to US residents at this time. In addition, all participants will need to play a game of Gods Unchained to claim their rewards. Immutable X is committed to being a long-term pillar of the Ethereum NFT ecosystem and partnering with some of the largest companies in the world, and so our principle is to go above and beyond when it comes to legal compliance.
We know this will be disappointing to our US users, who are some of our biggest supporters. We also know many of you will have traded on Immutable X in the hope of sharing in the Retrospective or Alpha rewards. We’re going to make sure you’re still rewarded for your contributions to the Immutable X ecosystem over this time period.
We will therefore be rewarding all US users, who are restricted from receiving their Retrospective or Alpha rewards, with USDC rather than IMX. We are trying to build a truly fairer digital asset trading ecosystem, and ensuring our US users were still rewarded was a matter of principle for us.
For US users at the end of the reward period, we will convert each user’s IMX to USDC via two price options. The USDC will be transferred to the participants’ Immutable X wallet. We will be using the IP address of each trader to determine residency.
Of course, we regret having to make this change so soon after the launch of Rewards — but it was necessary for us to continue rewarding users for their contribution while minimizing regulatory risk to the ecosystem.
You can read the updated version of the Play to Earn campaign and its full claim process in this article.
This communication is not for distribution to U.S. newswire or similar services or for any dissemination in the United States. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, IMX Tokens to any U.S. person (including, without limitation, any citizen or resident of the United States) or in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the laws of any such jurisdiction.
Please see our website for full legal disclaimer here.