Immutable launches Trade to Earn Program

Immutable has launched a Trade to Earn Program for its Immutable X NFT platform.

The Ethereum-based Layer 2 platform has started rewarding 40k IMX tokens every day from July 27th to traders who meet the necessary requirements, with the program set to end on August 10th. To qualify, users have to trade $10 or more on the protocol’s Global Order Book, meaning that there are some NFT collections that do not count. Both buying and selling NFTs count towards a user’s trading volume. When buying an NFT, the fees paid as a buyer also count towards the trading volume.

In order to prevent wash trading, only users who hold an NFT for at least 24 hours will have their trading volume counted on that NFT. The amount a user can earn each day depends on both the user’s trading volume but also the overall trading volume on the protocol, meaning that if a user’s trading volume is $100 and the total trading volume is $1000, the user will be able to receive 4000 IMX tokens out of 40k. 

Aside from the Immutable X marketplace, there are other marketplaces that have integrated the protocol’s Global Order Book, making trades on those platforms also eligible for the program. These include the following featured marketplaces: OKX, Mintable, TokenTrove and Kinguin.

The daily token rewards are given out “cumulatively each week by end of day Friday UTC on August 5th and August 12th." A third of the rewards are unlocked straight away when distributed, while 2/3 is unlocked every month during the next 5 months.

Last month, Immutable launched a $500 million gaming fund.