Staking allows you to earn rewards by locking up your IMX tokens. Below is a comprehensive guide to help you understand the process and maximize your staking rewards on Immutable X.
How Staking Rewards Work
To qualify for staking rewards, you need to take the following steps:
- Stake IMX tokens: Deposit your IMX tokens into the staking dashboard on Immutable X.
- Trade on Immutable X: Trade at least one NFT on the Immutable X orderbook during the 14-day staking cycle. This ensures your participation in the program and eligibility for rewards.
You can learn more about the Immutable X orderbook here. Some partnered marketplaces using the Immutable X orderbook include:
The Staking Process
Follow these simple steps to start staking and earn rewards:
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Navigate to the Staking Rewards page:
Head to the Staking Rewards landing page and connect your wallet. -
Deposit funds into Immutable X for staking:
Transfer your IMX tokens from your wallet to Immutable X for staking. -
Stake IMX tokens:
Choose the amount of IMX tokens you want to stake and confirm the staking action. -
Trade on the Immutable X Global Orderbook:
To be eligible for rewards, make sure to trade at least one NFT on the Immutable X orderbook during the current staking cycle. -
Receive rewards:
At the end of the 14-day staking cycle, the rewards will be automatically deposited into your wallet. -
Unstake IMX tokens:
After the cycle ends, you can choose to unstake your IMX tokens. They will be unlocked and available for withdrawal.
How Are Staking Rewards Calculated?
Your rewards are calculated based on two factors:
- The amount of IMX tokens you’ve staked.
- The duration your IMX tokens remain staked during the cycle.
The calculation follows this formula:
Rewards = (IMX staked * average time staked in cycle) / Total IMX staked during the 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.
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 X rollup.
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 the Immutable X protocol. 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.