18 million $IMX, the Immutable X native token, will be unlocked on February 25, worth over $18M and account for 0.9% of the total supply.
Out of the 18 million $IMX token, 9.6 million is for Project Development, while the remaining 8.46 million token to be unlocked are from private sales. According to data from cryptorank.com, the private sales price is $0.1, the current price of $IMX is $1.04.
For $IMX unlocking schedule, 18 million $IMX will be unlocked every month from the Project Development vesting contract and private sales vesting contracts. The exact unlocking date varies each month.
Immutable X operates as a Layer 2 scaling solution for NFTs on the Ethereum blockchain. Utilizing zk rollup technology, Immutable X aims to solve high gas fee and scalability concerns when minting and trading NFTs.