Ethereum Layer 2 scaling solution Immutable X announced it will launch $IMX staking on July 1st at 0:00 UTC, before which users will need to move $IMX tokens to their Immutable X Layer 2 wallet. The first phase of staking will begin with automatic rewards for active $IMX users at the end of each cycle, before switching to a self-custodial staking process with an interactive dashboard in the second phase. The first stage of staking reward is conditional on the user's Immutable X L2 wallet holding at least 10 $IMX tokens throughout the cycle and trading at least one NFT during the cycle. The first staking cycle is from July 1st to July 30th.
