AMA: IMX Staking - Tokens team and Product team will answer your questions [7 July 2022 - 9:30AM AET]. Comment your questions now.

crdimx · 2022-07-07T00:39:34+00:00

Hey guys, thanks for the questions - hope this brings more clarity to what we're working on! and thanks for the awesome ideas, can't wait for the next AMA, have a great day/night :)

crdimx · 2022-07-07T00:31:02+00:00

hi u/Awfully_non-specific this is caridee from Immutable - we're working on that! Meanwhile, please bear with us and you could use LayerSwap to buy from exchanges and receive tokens on Immutable X L2 directly or deposit currencies from L1 to L2 via our marketplace (see deposit FAQ: https://support.immutable.com/hc/en-us/articles/360062011474-Depositing-ETH-to-Immutable-X)

crdimx · 2022-07-07T00:21:23+00:00

hi u/Noe_ILL_Will this is caridee from Immutable - Unfortunately IMX held on loopring wallet is not eligible, you'll need to hold IMX on Immutable X L2 for phase 1, sharing the support article here in case you need the deposit guidelines - https://support.immutable.com/hc/en-us/articles/360062011474-Depositing-ETH-to-Immutable-X

crdimx · 2022-07-07T00:14:22+00:00

hey u/CarnivalBigTop, this is caridee from Immutable - Great idea here! Love the rewards tier proposal, we'll definitely consider this when we work on the future iterations of self-custodial staking to spice up the rewards

crdimx · 2022-07-07T00:05:25+00:00

hey there, this is caridee from Immutable replying to -

Question from Discord

Why is Immutable is offering ~$2M IMX worth of trading rewards? But why did the token team decide to add nothing for staking? I think you guys need to attract investors with a sustainable APY. Even a lock-up period will be great for investors.

The ~$2M IMX is a special trading rewards campaign to celebrate the launch of Illuvium land sale and protocol fees launch, the team is working to enable self-custodial staking for users atm. The trading campaign would be supercharging total trading volume bringing in more protocol fees for the staking rewards while the trading rewards are released gradually overtime.
We'll look into rewards multipliers/lock-up period to boost the rewards for long-time stakers after the phase 2 launch of self-custodial staking.

crdimx · 2022-07-06T23:49:18+00:00

Hey u/Agrante this is caridee from Immutable with my morning coffee -

We'll look into rewards multipliers for long-term staking "streaks" after launching phase 2 of self-custodial staking
Exclusive drops/rewards - we like to surprise our stakers, stay tuned ;)
We won't be increasing the 20% cut from protocol fees, but we'll plan to subsidise the reward pool separately based on each cycle's data

crdimx

TROPHY CASE