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Immutable X is a layer-2 scaling solution with a focus on NFTs running on Ethereum. Immutable X wishes to solve some of the issues of the Ethereum blockchain, from low scalability and illiquidity, to problems users and developers might encounter. Immutable X wants to provide users with a highly-scalable, safe environment for minting and trading NFTs, with instant trading and no gas fees. IMX is the protocol’s utility token and it is used for governance, staking and payment of transaction fees.