Immutable operates a full-stack infrastructure platform for web3 gaming that includes blockchains, namely Immutable zkEVM and Immutable X, and other products, such as Passport and Orderbook. Creators & users sell NFTs on Immutable. They receive royalties from secondary sales (supply-side fees).

Immutable is a platform for building web3 games. Immutable was founded by James Ferguson, Robbie Ferguson, Alex Connolly, and launched in 2018. This dashboard includes data from Immutable Orderbook, Immutable zkEVM, and Immutable X.

IMX holders own and govern the protocol. They currently take a cut of the total trading fees paid by NFT buyers on Immutable Orderbook and the total transaction fees paid by transaction senders on Immutable zkEVM (revenue). Immutable's investors include ParaFi Capital, GameStop Digital Ventures, Fabric Ventures, etc.

governance

github

twitter

discord

etherscan

website

Blockchains (L2)

Immutable

# Immutable Token turnover (fully diluted) Methodology

## 1. Overview

Token turnover (fully diluted) for Immutable measures the trading activity and liquidity of the native asset relative to its total potential valuation. This metric is expressed as a ratio, calculated by dividing the daily trading volume by the fully diluted market cap. It provides insight into the velocity of the asset and how frequently the total potential supply of the Immutable asset changes hands in the market.

## 2. Data sources

- **External data**: End-of-day trading volume feeds, price feeds, and asset metadata for the Immutable asset

## 3. Step-by-step calculation

### Component A: Token trading volume extraction

- **Purpose**: Capture the total daily volume of the Immutable asset traded across supported exchanges.
- **Logic**: Daily trading volume is retrieved from external market data feeds using metadata identifiers for the Immutable asset. The volume represents the total USD value of the asset traded over a 24-hour period, aggregated at UTC day boundaries.
- **Key fields**: `total_volume` (trading activity), `timestamp` (timing)

### Component B: Fully diluted market cap calculation

- **Purpose**: Determine the total valuation of the protocol based on its maximum potential supply.
- **Logic**: The fully diluted market cap is calculated by multiplying the total supply of the asset (including all locked and non-circulating units) by the end-of-day asset price. These values are sourced from external metadata and price feeds.
- **Key fields**: `market_cap_fully_diluted` (valuation)

### Component C: Turnover ratio and finalization

- **Purpose**: Calculate the final ratio and ensure data continuity.
- **Logic**: The token trading volume is divided by the fully diluted market cap for each corresponding day. A safe division method is applied to ensure that any instances of zero or missing market cap values do not result in calculation errors. The final dataset is processed to ensure consistent daily granularity, with a zero-filling strategy applied to any days where activity is not recorded.
- **Key fields**: `token_trading_volume`, `market_cap_fully_diluted`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

${token_trading_volume} / ${market_cap_fully_diluted}

Average daily token trading volume divided by fully diluted market cap.

ImmutableIMX

Token turnover (fully diluted)

Token turnover (fully diluted)

Competitive landscape