Immutable's Bold Move: Extending Token Vesting Period to Boost Long-Term Sustainability
Token Unlock Postponed for Long-Term Alignment
Immutable's commitment to the long-term health of their project is evident as they announce the re-locking of 125 million $IMX tokens from the project's development allocation for an additional year. This announcement comes just as these tokens were about to be unlocked, showcasing the company's resolve to ensure stability.
1/ We're here for the long run.— Robbie Ferguson ???? | Immutable (@0xferg) October 17, 2023
Last year, we committed to re-locking 125M $IMX of @Immutable’s Project Dev allocation for another 1 year. A few weeks from now, these tokens are scheduled to unlock.
We’re proud to once again re-lock this allocation until July 2024 at a minimum.
In his follow-up post, Robbie Ferguson explained that when these tokens do finally unlock in July, they will follow a linear monthly vesting schedule over time, in stark contrast to the conventional "cliff" approach. This method is designed to promote responsible token distribution and further align the project with the interests of its dedicated community.
Interestingly, Immutable proudly holds 25% of the supply of the IMX token on their balance sheet, citing a commitment to "long-term alignment." This strategic move demonstrates their belief in their project and the dedication of long-term token holders, with an astonishing 90% of these tokens never having been sold.
Immutable's determination to create a lasting impact is further reinforced by their financial stability. With approximately four years of runway and a workforce of 270 employees, they're making significant strides by expanding their headcount in Japan and Korea, solidifying their presence in key markets.
Expanding Strategic Partnerships for Long-Term Growth
Immutable's actions speak volumes about their philosophy: "bear runs are for building." In this spirit of growth and resilience, Immutable recently joined hands with tech giant Amazon Web Services (AWS) on October 11. This strategic partnership aims to simplify the process of launching products on blockchain networks, providing game developers with a robust platform for their creations. Immutable's dedication to long-term growth, sustainability, and partnerships makes them a standout player in the dynamic world of cryptocurrencies, and their journey continues to be one to watch.