Last updated on: 7 October 2022
One of the key uses of the ecosystem development fund is to incentivise 3rd party developers and IP holders to build amazing applications on Immutable X. Immutable X is a multi-sided network of developers who create NFT content, marketplaces, tools and users who get to benefit from these products to buy and trade NFTs.
The network is currently constrained on the supply-side - without use cases and good UX, there is nothing for users to trade. Similarly we believe many content creators and IP holders will bring their own audiences to Immutable X. Grants are a key lever to win and retain these developers to Immutable X by incentivising them to build on Immutable X and aligning incentives with the success of the overall platform.
Build with Immutable X now.
Developers receive an allotment of IMX tokens in return for bringing volume on Immutable X. Tokens are granted upon achievement of milestones that bring value to the Immutable X ecosystem such as:
The tokens unlock monthly over 24 months. Tokens are distributed monthly on the first Friday of the month to developers that have unlocked tokens. Transfers may be made after this date if outstanding tokens were not transferred on time for any reason.
<aside> 💡 Important to know: If customers don’t hit milestones, we can reallocate those tokens to customers that can deliver on volume. This is better and more value-aligned than the typical grants provided by blockchain projects.
A simple hypothetical example: ****Big Game Co has a grant agreement of 72,000 IMX tokens. Details on their standard agreements are as follows.
Signs in Jan 2022 33% milestone 1 33% milestone 2 33% milestone 3