Immutable X Launches Staking Rewards, to Provide 20% of Protocol Fee to $IMX Stakers

Immutable X announced the launch of Staking Rewards. To be eligible for Staking Rewards, users need to stake $IMX, and trade at least one NFT on the Immutable X protocol during a staking cycle (14 days). Immutable X has a 2% protocol fee, 20% of which will be allocated to Staking Rewards. The rewards will be converted to $IMX on the open market and proportionately redistributed to $IMX stakers based on the amount staked.