Immutable postpones $67M token vesting in a strategic shift for long-term sustainability
The post Immutable postpones $67M token vesting in a strategic shift for long-term sustainability appeared on BitcoinEthereumNews.com. TLDR Immutable postpones vesting of 125 million IMX tokens, valued at $67 million, to July 2024, aiming to enhance long-term sustainability and steady token release. The company’s future roadmap includes launching its zkEVM, introducing cross-rollup liquidity, and betting big on blockchain games, predicting they will drive web3 adoption. In a significant move indicating the evolving dynamics of the cryptocurrency sector, Immutable, a renowned Ethereum layer-2 NFT scaling solution, has decided to defer the vesting of its 125 million IMX tokens, valued at $67 million. This significant tranche of tokens, previously allocated for developer rewards, will now see their vesting commence in July 2024. Enhancing long-term vision The announcement came on October 17th, when Robbie Ferguson, the co-founder of Immutable, detailed the strategic reasoning behind this delay. According to Ferguson, the decision was primarily taken to fortify the company’s long-term sustainability. He explained, “At a minimum, when we finally do decide to let these tokens unlock – they will be done on a linear monthly vesting schedule over time, instead of a cliff.” This implies a systematic, steady release of the tokens rather than a sudden, massive influx into the market. Ferguson’s commitment to sustainability and growth was evident when he revealed that over 200 games, fully funded, are currently developed on the Immutable platform. Furthermore, the company’s treasury boasts a substantial four-year runway, sufficient to support its 270-member team. To offer a clearer picture of the distribution, 52% of the massive 2 billion tokens of Immutable are earmarked for project advancement and incentives to boost the ecosystem. A glimpse into the future: Immutable’s roadmap Immutable has carved an ambitious path for itself. The immediate roadmap showcases plans to unveil its zero-knowledge Ethereum Virtual Machine (zkEVM). This is coupled with initiatives to introduce cross-rollup liquidity. But it’s not just the technological…
The post Immutable postpones $67M token vesting in a strategic shift for long-term sustainability appeared on BitcoinEthereumNews.com.
TLDR Immutable postpones vesting of 125 million IMX tokens, valued at $67 million, to July 2024, aiming to enhance long-term sustainability and steady token release. The company’s future roadmap includes launching its zkEVM, introducing cross-rollup liquidity, and betting big on blockchain games, predicting they will drive web3 adoption. In a significant move indicating the evolving dynamics of the cryptocurrency sector, Immutable, a renowned Ethereum layer-2 NFT scaling solution, has decided to defer the vesting of its 125 million IMX tokens, valued at $67 million. This significant tranche of tokens, previously allocated for developer rewards, will now see their vesting commence in July 2024. Enhancing long-term vision The announcement came on October 17th, when Robbie Ferguson, the co-founder of Immutable, detailed the strategic reasoning behind this delay. According to Ferguson, the decision was primarily taken to fortify the company’s long-term sustainability. He explained, “At a minimum, when we finally do decide to let these tokens unlock – they will be done on a linear monthly vesting schedule over time, instead of a cliff.” This implies a systematic, steady release of the tokens rather than a sudden, massive influx into the market. Ferguson’s commitment to sustainability and growth was evident when he revealed that over 200 games, fully funded, are currently developed on the Immutable platform. Furthermore, the company’s treasury boasts a substantial four-year runway, sufficient to support its 270-member team. To offer a clearer picture of the distribution, 52% of the massive 2 billion tokens of Immutable are earmarked for project advancement and incentives to boost the ecosystem. A glimpse into the future: Immutable’s roadmap Immutable has carved an ambitious path for itself. The immediate roadmap showcases plans to unveil its zero-knowledge Ethereum Virtual Machine (zkEVM). This is coupled with initiatives to introduce cross-rollup liquidity. But it’s not just the technological…
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