Immutable Delays $67 Million Token Vesting Until 2024
In a recent blog post, Immutable co-founder Robbie Ferguson announced that the vesting of $67 million in token rewards would be postponed until July 2024. This decision is aimed at enhancing the long-term sustainability of the Web3 game development platform.
Token Unlock Postponed
According to the post, Immutable has committed to re-locking 125 million $IMX tokens from the project’s dev allocation for another year. Originally scheduled to unlock in a few weeks, these tokens will now unlock on a linear monthly vesting schedule starting in July 2024.
Immutable currently holds 25% of the IMX token supply on its balance sheet, demonstrating their long-term alignment. The majority of these tokens are held by long-term aligned token holders, with 90% never having been sold.
Expanding Strategic Partnerships
Immutable’s actions reflect their commitment to building during bear runs. In addition to delaying token vesting, they recently partnered with Amazon Web Services (AWS) to facilitate game developers’ access to blockchain networks, further supporting their long-term growth.
Hot Take: Immutable Takes Long-Term Approach for Sustainable Growth
Immutable’s decision to delay token vesting and focus on strategic partnerships highlights their dedication to long-term sustainability and growth in the crypto industry. By re-locking a significant portion of their dev allocation and implementing a gradual vesting schedule, they demonstrate their commitment to responsible token distribution. Furthermore, their partnership with Amazon Web Services showcases their dedication to expanding access and opportunities for game developers in the blockchain space. Immutable’s approach reflects their belief that bear runs are opportunities for building and sets them on a path towards success in the evolving crypto landscape.
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