IMX Staking Comes to Immutable zkEVM - Here’s What You Need to Know

In partnership with IMX Ecosystem Foundation we are pleased to announce that starting on the 19th of June at 00:00 UTC, IMX holders will be able to stake directly on Immutable zkEVM and be eligible for fortnightly IMX rewards in recognition of their active engagement with the Immutable ecosystem. This marks a major shift in how rewards are distributed.

Since the inception of IMX staking on Immutable X, 4.8 million IMX has been distributed to the community, averaging 67,605 IMX per week.

As part of the merge of Immutable X and Immutable zkEVM into the Immutable chain, staking on Immutable X will end on the 19th of June.

This blog covers everything you need to know, including how to prepare by moving your funds from Immutable X to Immutable zkEVM.

How Immutable zkEVM Staking Works

Beginning on 19th of June, IMX holders can stake on Immutable zkEVM, actively participate in the ecosystem by trading an NFT and start earning rewards.

Immutable zkEVM staking will also now support Passport wallets.

Here’s how it works:

Fortnightly Rewards Cycle

You must trade at least one NFT during the cycle on a marketplace integrated with the Immutable zkEVM orderbook.
You must have staked IMX during the fortnightly cycle

Some popular marketplaces that use the Immutable zkEVM orderbook include:

Reward Structure

20% of protocol fees on Immutable (from the 2% trading fee collected by Immutable) are allocated to stakers as rewards for active engagement.

Your rewards are calculated based on two factors:

The amount of IMX tokens you’ve staked.
The duration for which your IMX tokens remain staked during the cycle.

The calculation follows this formula:

Rewards = Total IMX Staked During the Cycle / IMX Staked Average Time Staked in 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.

Immutable X Staking Is Ending

Staking on Immutable X will end at the conclusion of the 73rd epoch on 19th of June at 00:00 UTC. Rewards will be distributed and all user funds will be automatically unstaked and returned to their wallet. Users will no longer be able to initiate new staking positions on Immutable X.

Users have two options for migrating to Immutable zkEVM to stake:

Migrate your funds now using a bridge (see below) and stake.
Wait until the Immutable X chain is merged with Immutable zkEVM for an automatic bridge of funds. Users will still need to manually stake on Immutable zkEVM.

We recommend migrating your staked IMX on Immutable X ahead of the merge in order to receive your share of staking rewards.

How to Move IMX from Immutable X to Immutable zkEVM

Here’s a step-by-step guide to moving your assets across:

Step 1: Use a Bridge to Move Funds to Immutable zkEVM

There are two options for bridging funds:

Option 1: Bridge funds from Immutable X to Immutable zkEVM directly via layerswap (Recommended)

Visit https://layerswap.io/app
Connect your wallet on Immutable X that contains your IMX
Select “ImmutableX” as the “From” network
Select “Immutable zkEVM” as the “To” network
Select “IMX” as the asset
Select the desired amount of IMX to bridge
Connect your Immutable zkEVM wallet (Note: If you are bridging to an Immutable Passport wallet you will need to select the options toggle, click “EVM” and select Immutable Passport)
Click “Swap Now”

See a full step by step guide here

Option 2: Bridge funds from Immutable X into Ethereum then bridge to Immutable zkEVM

See a full step by step guide here

Step 2: Stake Your IMX on Immutable zkEVM

Head to the Immutable zkEVM staking page (available on the 19th of June at 00:00 UTC)
Connect your wallet containing IMX
Enter the amount of IMX you wish to stake
Click “Stake”
Trade at least 1 NFT on a marketplace integrated with the Immutable zkEVM orderbook each fortnightly epoch for rewards

In Summary

IMX staking launches on Immutable zkEVM on 19 June.
All IMX currently staked on Immutable X will be unstaked automatically on 19th of June at 00:00 UTC and are available in users wallets.
Existing Immutable X stakers are recommended to bridge to Immutable zkEVM to continue earning staking rewards.

FAQs

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1. What will happen to my staked funds on Immutable X?

On the 19th of June at 00:00 UTC, staked IMX on Immutable X will be automatically unstaked and returned directly back to your wallet.

2. What wallets will be supported for staking on immutable zkEVM?

Immutable zkEVM staking will now support Passport. The following other wallets are also supported:

All major hardware wallets
All major EOA wallets (e.g., Metamask, Rabby)

Support for WalletConnect will be available at a later date.

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.