Digital Assets: Gemini Now Supports Immutable X (IMX), Biconomy (BICO), IoTeX (IOTX), PlayDapp (PLA)

Digital asset firm Gemini noted that they’re pleased to announce support for a new set of crypto tokens.

The following digital tokens are now available for trading on Gemini:

  • Immutable X (IMX)=
  • Biconomy (BICO)
  • IoTeX (IOTX)
  • PlayDapp (PLA)

These tokens are “available for trading on our API/FIX and ActiveTrader applications for USD trading pairs.” They are also “available on the Gemini Mobile App and website for USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs, and are available for custody on Gemini.”

Gemini added that they are excited “to support more than 120 tokens” on their trading platform.

They believe these tokens will “provide value to our users as we continue to support the growth of the DeFi and NFT ecosystems.” They look forward “to supporting new crypto projects on our mission to unlock the next era of financial, creative, and personal freedom.”

As clarified in the update, Gemini supports “the Ethereum (ERC-20) versions of IMX and IOTX.” IMX and IOTX purchased on Gemini can be “withdrawn to Ethereum compatible wallets and swapped to their native versions using a bridge.”

Immutable X is “an Ethereum Layer-2 scaling solution designed for NFTs. Using what is known as zero-knowledge proof technology (ZK rollups), Immutable X aims to increase the rate of on-chain NFT transfers, trades, and mints, and decrease network fees.”

The platform has “a global NFT marketplace that provides increased liquidity by allowing NFTs listed on Immutable X to be traded through other marketplaces.” IMX is “a utility and governance token.”

Its three main use cases are “paying network fees, staking, and governance.”

Gemini supports “the Ethereum (ERC-20) version of IMX, which is a multi-chain asset.” IMX purchased on Gemini can be “withdrawn to Ethereum compatible wallets and swapped to the native version of IMX using a bridge.”

Biconomy is “a cross-chain relay infrastructure platform built for general-purpose applications. Applications built on Biconomy can seamlessly move assets between Ethereum Virtual Machine (EVM)-style blockchains such as Ethereum, Polygon, and Avalanche, among others.”

BICO is “an ERC-20 governance and rewards token compliant with the Ethereum network.”

IoTeX is “an Ethereum Virtual Machine (EVM)-compatible blockchain that aims to integrate with the Internet of Things (IoT)-connected devices.” The IoTeX platform “connects real-world data from trusted devices to on-chain dApps and data oracles, with a focus on security and native, end-to-end encryption.”

Whereas IoTeX launched first on Ethereum, it has “subsequently launched a native mainnet blockchain.”

IOTX is a utility token “for the IoTeX native Layer-1 blockchain.” IOTX is 1) “used to pay gas fees on the IoTeX blockchain, 2) required to stake for network consensus, and 3) used for governance over the network.”

They support “the Ethereum (ERC-20) version of IOTX, which is a multi-chain asset. IOTX purchased on Gemini can be withdrawn to Ethereum compatible wallets and swapped to the native version of IOTX using a bridge.”

PlayDapp is “a platform that integrates blockchain-based software development kits and marketplaces with traditional consumer applications.”

With a focus on interoperability, PlayDapp has “integrated with mobile games to allow for NFT ownership of in-game items.”

PLA is “an ERC-20 utility token compliant with the Ethereum network, and serves as a payment method for marketplace and in-game purchases as well as a reward for in-game achievements or for third-party developers who contribute to the ecosystem.”

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