Staking is a fantastic way to earn rewards by locking up your IMX tokens. This guide will walk you through the process of staking IMX on Immutable zkEVM, helping you understand how it works and how to maximize your rewards.
How Staking Rewards Work
To qualify for staking rewards, you need to complete two main steps:
- Stake Your IMX Tokens: Deposit your IMX tokens into the official staking dashboard at https://imx.community/staking on Immutable zkEVM.
- Trade on Immutable zkEVM: During each 14-day staking cycle, you must trade at least one NFT on the Immutable Global Orderbook. This step is crucial for ensuring your participation and eligibility for rewards.
Some popular marketplaces that use the Immutable zkEVM orderbook include:
**You can learn more about the Immutable Global Orderbook here.
The Staking Process: Step-by-Step
Follow these simple steps to begin staking your IMX tokens and start earning rewards:
Step 1: Navigate to the Staking Rewards Page
Go to the IMX Staking Rewards page by visiting https://imx.community/staking.
Step 2: Connect Your Wallet
On the staking page, you'll need to connect your cryptocurrency wallet. Look for a "Connect Wallet" button, usually in the top right corner or prominently displayed.
Step 3: Stake IMX Tokens
Choose the amount of IMX tokens you want to stake and confirm the staking action.
Step 4: Trade on the Immutable Global Orderbook:
To be eligible for rewards, make sure to trade at least one NFT on the Immutable zkEVM orderbook during the current staking cycle. Head to one of our partnered marketplaces to purchase at least one NFT.
Step 5: Receive Rewards:
At the end of the 14-day staking cycle, you will be able to see the amount of lifetime rewards and what was rewarded last cycle. The rewards will be automatically deposited into your wallet.
How to Unstake IMX Tokens
After the cycle ends, you can choose to unstake your IMX tokens. They will be unlocked and available for withdrawal.
How Staking Rewards Are Calculated
Your rewards are calculated based on two factors:
- Staked Size: The amount of IMX tokens you’ve staked.
- Staked Duration: The duration for which your IMX tokens remain staked during the cycle.
Time Weighted Stake Amount = Staked Size × Staked Duration
The following formula is used to calculate how much reward an individual will get at the end of a Cycle:
The longer and larger your stake, the greater your potential rewards. Each cycle lasts for 14 days, and rewards are distributed at the end of the cycle.
The following formula is used to calculate the annualized and compounded reward rate you can reference when thinking about maximizing your return:
Annualized Reward Rate = (1 + Cycle Reward Rate)Number of Cycles in a Year − 1
Frequently Asked Questions
1. I’m qualified for rewards, but I can’t see them in my wallet. Why?
There can be up to a 48-hour delay between the end of a staking cycle and the appearance of rewards in your wallet. This is due to fluctuations in processing times and the batching of staking rewards on the Immutable zkEVM. Rewards are converted into IMX tokens by withdrawing from Layer 2 to Ethereum, followed by a swap on a decentralized exchange (DEX). These delays do not affect the start and end times of staking cycles.
2. My rewards seem low. Is something wrong?
Staking rewards are dependent on overall transaction volume on Immutable zkEVM. Therefore, fluctuations in transaction volume can impact the reward amounts. The reward figures displayed on the staking dashboard are annualized, assuming you compound and re-stake your rewards each cycle. This estimate helps project what your rewards could look like if you consistently participate in staking.
3. What’s the minimum amount of IMX I can stake?
There's no specific minimum staking amount, but you should consider that very small amounts may result in minimal rewards that might not justify the gas costs for staking and unstaking transactions.
4. Can I unstake my tokens before the cycle ends?
Yes, you can unstake your IMX tokens at any time. However, if you unstake before the cycle ends, you'll only receive rewards for the period your tokens were actually staked. You'll also still need to complete at least one NFT trade during that cycle to be eligible for any rewards.