Ethereum Layer-2 Scaling Solution Immutable Delays Token Vesting to Enhance Long-Term Sustainability

Developers of Immutable's Layer-2 NFT Scaling Solution Postpone Token Vesting

Immutable, the developers behind Ethereum layer-2 nonfungible tokens (NFT) scaling solution, have announced the delay of the vesting of 125 million IMX in token rewards to July 2024. The tokens are currently valued at $67 million. The decision to postpone the vesting is aimed at enhancing Immutable's long-term sustainability. Instead of a lump sum release, the tokens will be gradually unlocked on a monthly basis, according to Robbie Ferguson, the co-founder of Immutable.

Immutable's Growing Ecosystem and Financial Stability

Robbie Ferguson also revealed that Immutable has over 200 funded games built on its platform. Additionally, the company's treasury has enough funds to sustain its 270 staff for the next four years. Currently, 52% of Immutable's 2 billion tokens are reserved for project development and ecosystem incentives.

Future Plans for Immutable

Immutable has an ambitious roadmap ahead. The project aims to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) and cross-rollup liquidity. Furthermore, the company is set to debut its ecosystem blockchain games. According to Ferguson, the games funded two years ago will go live over the next 12 months. He believes that the success of these games will play a crucial role in driving user adoption in the web3 space.

Immutable's Funding and Focus on Scalability

In March 2022, Immutable raised $200 million in its Series C funding round, led by Singaporean investment firm Temasek. Other participants included Animoca Brands, Tencent, Arrington Capital, and Princeville Capital. The funding was primarily aimed at improving Immutable's layer-2 scaling solution on Ethereum and scaling the Immutable Gaming Studio.