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How is the Immutable X Team involved in the IMX Token distribution?
How is the Immutable X Team involved in the IMX Token distribution?

The size of the team, and why 25% of the supply is minted and held by Immutable.

Jeffy avatar
Written by Jeffy
Updated over a week ago

Will the Immutable team receive a part of the token distribution?

No individual members of Immutable X will be receiving the IMX tokens. IMX tokens are issued by an independent Token Foundation which is managed by independent directors.

Why is 25% of the supply minted and held by Immutable?

As IMX will be distributed and used within the Immutable X protocol, we found that unlocking the tokens in L1 linearly, and then moving the tokens into Immutable X will introduce a lot of operational complexity.

Instead, all the locked tokens will be moved and distributed using a Time Lock Vault mechanism. The Time Lock Vault is built using a smart contract. In the meantime, the locked allocation is now stored in secure cold storage.

How big is the Immutable X team?

Currently, we have a team of 300+ people at Immutable. Plus, we are undergoing rapid growth and hiring talent across the world to ensure the success of the protocol, Marketplace, and token. If you're interested in joining the team, click here for more information.

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