Impossible Finance is a decentralized platform that combines the functions of a launchpad, incubator and exchanger.
The platform aims to become the best multichain incubator, startup and swap, utilizing a Business-to-Develop (B2D) model to leverage top-notch teams to provide users with high-quality launchpad deal flow.
With this approach, Impossible Finance is uniquely positioned at the intersection of incubator, crypto-funding platform and swap. In fact, the ecosystem offers a full suite of services for both project teams and individual users, providing a one-stop solution for high-quality projects aimed at target markets. Impossible Finance aims not just to sell crypto assets, but to put them in the hands of the earliest community supporters and real users who will utilize the project.
Date of foundation: in 2020.
Core team of Spores Network
Behind the development of the Impossible Finance platform is Calvin Chu, who was previously an analyst at Binance Research.
More info about Impossible Finance
Ecosystem Impossible Finance provides investors with the opportunity to participate in Initial DEX Offering (IDO) format based on the Staking Subscription principle. That is, it is necessary to purchase tokens of the platform and send them to Staking Subscription. In turn, allocation depends on the number of tokens and the staking time. After the end of the staking period it is necessary to redeem the allocation. Impossible Finance’s main product and functionality is the Invest section, which acts as an IDO Launchpad. Within this functionality, the platform offers crypto startups the opportunity to attract funding, encompassing more attention from users and investors. In turn, it is an opportunity for users to participate and purchase tokens of the best early-stage blockchain ecosystems. In order to participate in IDO token sales, users need to hold a certain number of IDIA in staking. In addition, the platform requires a KYC (Know Your Customer) verification procedure. After a user has sent IDIA to staking, they need to be held for a period of time. This process is called Staking Period. At the same time, the platform’s smart contracts perform a calculation for each user, this period is called Allocation Period. Then, after some time it is necessary to buy tokens of the selected IDO project via BUSD. Such a process is called the Purchase Period. After that, the Claim Period opens, during which the user takes the received allocations crypto tokens. Note that there is no minimum amount of IDIA tokens to stake and participate in IDO. However, the more tokens a user holds, the more allocation the user will receive during IDO.
Swap functional of Impossible Finance
Ecosystem Impossible Finance has also released Swap functionality. This approach gives users the opportunity to use the platform as a profitable cryptocurrency exchanger. To do this, it is necessary to connect a cryptocurrency wallet, select the required pair and make an exchange.
Tokens of Impossible Finance
- IF token is the primary asset for managing swap and other non-launch pad products, which can control things like trading commissions and trading discounts.
- IDIA token is the main token for managing the launchpad, such as the various bid parameters for the launch pad process. Thus, IDIA is the main betting asset to receive allocations, while IF is the commission accrual token for the swap system.
Key metrics of Impossible Finance Launchpad
Launched of categories
- DeFi – 40.7%
- GameFi – 29.6%
- Chain – 11.1%
- Blockchain Service – 11.1%
- NFT – 3.7%
- Blockchain Infrastructure – 3.7%
