Impossible Finance is a multi-chain incubator, launchpad, and swap platform that provides a strong product-first environment to top-tier blockchain companies and targeted user populations.

Introduction

Abstract

Decentralized Finance (DeFi) had an explosion of money legos supplanting Traditional Finance (TradFi) solutions in 2020. Because DeFi is open-source, the holy grail of DeFi is to pool liquidity and skill rather than building in isolation. Impossible Finance connects investors, consumers, and projects into a unified multi-chain ecosystem. Regardless of tenures at centralized exchanges, its authors think that DeFi’s composability will power the finest project-launching methods, which is why they created the Impossible Incubator.

Using a builder-first strategy, they concentrate on establishing top teams to assure quality deal flow for both investors and retail consumers. They introduce the Impossible Economy: IF Governance (IF) and IF Decentralised Incubator Entry Tokens (IDIAs) enabling equitable access into project launches to enhance the structure of early-stage investment. Finally, to aid project liquidity, they provide the Impossible Swap: a multi-purpose dex that supports initial launch sales as well as secondary markets for any asset.

Impossible Value Propositions

For Retail Users: Provide unparalleled access to top-tier deal flow and collaborate with their incubator’s promising companies to develop these ecosystems.

For Projects: They provide not only “fair launches,” but also “smart launches,” which connect projects with top-tier investors and ardent retail users. Projects distribute tokens through various tracks using their IDIA framework. They are adamant about constructing the “B2D” – business to developer stack – so that projects may focus on creating. As a result, the IF Community will offer the following consulting services to projects in its BUIDLer ecosystem:

Technical:

  • Research and development to suggest potential architectural improvements
  • Multichain support to help grow and adapt product scope
  • Gas optimization suggestions
  • Referrals to high quality audits, tech integrations, bounty programs and talent

Economic:

  • Optimize token economics
  • Provide data and analytics to provide tight feedback loop on any campaigns
    • Dune Analytics, GraphQL (Bitquery, The Graph), Covalent, Nansen

Marketing/BD/Operations:

  • Hone in the key “killer features” for each project
  • Localized support in operations across all communities
  • Help organize and participate in hackathons
  • Help build ecosystems across core stakeholders: validators, users and devs
  • Warm introductions and grants program support with ecosystem partners
  • Quarterly web showcase/demo of incubated projects
  • Connections to Legal/Compliance/Organizational Registration
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Tokenomics

The Impossible ecosystem will have two assets: IF and Impossible Decentralized Incubator Access Tokens (IDIA).

The ecosystem’s governance token, IF, will be the “mainnet upgrade” of StableX.finance’s STAX governance token, which powers the AMM that serves as the Impossible Ecosystem’s backbone. They started with their AMM and intend to build the complete suite around it, similar to how Google’s “page rank” algorithm led to Drive, Gmail, and YouTube in the Alphabet ecosystem.

Why 2 tokens?

They offer the IF Decentralized Incubator Access (IDIA) Tokens to better match real believers of initiatives within a sector rather than speculation-driven launchpad models. IDIAs are liquid securities that provide investors with first access to transaction flow and allocation within a given industry. This matching also discourages “mercenary investment,” which is short-term and does not last, instead favoring long-term investors for access to highly sought-after project launches. They will first focus on eight industries: user-facing tools, assets (synths), markets (DEXs and AMMs), NFTs, capital efficiency, scaling, privacy, and infrastructure.

IDIA token holders also run the IDIADAO, a public on-chain fund that invests in Impossible projects and uses the earnings to purchase back and create IDIA tokens. Later, they hope to abstract this flow in order to allow “no-principal-loss investing” techniques (similar to PoolTogether) to reinvest income generated in stablecoin AMM pools in Impossible Incubatees. This democratizes the realm of early-stage investing, allowing even your grandmother to participate. Projects may fall under more than one category, since they seek to incubate additional projects that kill two birds with one stone. Additional categories may be added by the community through IF governance.

They also promote and support subDAOs or individual decentralized funds (for example, e-girl capital) to invest alongside IDIADAO. They will reserve 1% of IDIA total supply to sell to user and creator ecosystems such as Metacartel, Lobsterdao, ICO Analytics, Badger, Daosquare, DXDao, LAO, HausDAO, Flamingo, JihoDAO, The Defiant, Our Network, Coin98, Rabbithole, Dune Analytics, Opensea, and Gitcoin & KERNEL donors/recipients.

Token Distribution

Total supply: 1 billion IDIA

Strategic sale: 13% (13 mil IDIA), ~2M USD Circ. market cap on day one $0.06 – 25% liquid (Day 1), remaining 75% vest: 1 year cliff & 1 year linear unlock IDIA Token Distribution

13% Genesis Strategic Participants Sale

10% Incubated Project Teams (give projects access to better deploy their strategic treasuries with potential ecosystem partners), deployed over 5 years.

15% Ecosystem bounties disbursal governed by IDIA token holders, linear over 4 years.

2% Gitcoin Grants support public goods decided by IDIA holders, deployed over 4 years.

20% IDIA DAO allocation, 25% upfront but non-transferable, linearly vest over 4 years

20% Impossible Team 25% upfront but non-transferable, linearly vest over 5 years.

10% IF Staking rewards earned over 5 years

2% Initial Impossible IDO & Liquidity Provision Bootstrapping – locked liquidity

1% Partner DAOs and user ecosystems Sales to bootstrap community

5% is held in reserves TBD – nontransferable for 6 months

The Impossible Finance IDO

Token Sale Details

  • Token Name: Impossible Decentralized Incubator Access Token (IDIA)
  • Launchpad Sale Hard Cap: No less than 240,000 USD*
  • Hard Cap Per User: 10,000 USD
  • Total Token Supply: 1,000,000,000 IDIA
  • Tokens Allocated to Impossible Launchpad: 4,000,000 IDIA* (0.4% of Total Token Supply)
  • Public Sale Token Price: 1 IDIA = 0.075 USD (BUSD) (25% Impossible Discount)
  • Listing Price: TBD – No less than 0.10 USD (BUSD)
  • Token Sale Format: Staking Subscription
  • Sector: Impossible Finance Inaugural Track
  • Supported Staking Tracks: IF staking only

Subscription Timeline

  • KYC Preparation Period: 2021–08–10 5:00 AM (UTC) to 2021–08–12 5:00 AM (UTC): During this period, users can prepare their credentials and pass KYC.
  • Staking Period: After completing KYC, stake IF into Impossible’s Launchpad staking contract and the contract will record user’s staked IF balances for 4 days from 2021–08–12 5:00 AM (UTC) to 2021–08–16 5:00 AM (UTC), user’s IF balance will be captured onchain.
  • Purchase Period: 2021–08–16 10:00 AM (UTC) to 2021–08–17 10:00 AM (UTC): Subscription will open at this time for all eligible users for a 24 hour period – users may elect to purchase any amount of IDIA less than or equal to the allocation derived from the staking period.
  • Claiming Period: starting at 2021–08–17 12:00 PM (UTC): users will be able to claim your IDIA allocation on the Impossible Launchpad.

The IDIA token sale will follow the standard Impossible Launchpad staking subscription format, in which users’ stakeWeight is calculated based on the proportional amount of IF they stake and the duration they stake relative to the total amount and staking duration of the entire pool, with users’ staked IF balances recorded beginning around 2021–08–12 5:00 AM (UTC).

IDIA Token Investor report

Successful fundraising

Holders of the IDIA Token can invest in projects on the Impossible Finance launchpad. They planned their fundraising and only took strategic money that would build the larger Impossible Ecosystem. The fundraising campaign was successfully completed in May 2021.

Technology Checkpoints

v2 Swap completed and upgraded:

  • v2 Swap was released, however it was compromised by a flash loan and a fraudulent ERC token. Within one day after the incident, a post-mortem analysis was published. The impacted users were fully reimbursed through the SAFU insurance scheme. Approximately 80% of the stolen monies were returned to Impossible Finance.
  • With the addition of novelty functions, v2 Swap instantly improved after assault. The xybk invariant has been improved to allow for more capital-efficient stable coin swaps and asymmetric tuning. All v2 updates and testing will be placed in the v3 Swap.

Launchpad ready

Impossible Decentralized Incubator Access Token is a smart launch and IDO of their own launchpad governance and access token (IDIA). Peckshield, BlockSec, Beosin, and numerous peer reviews completed audits.

New tech integration

Core integrations completed with KYC provider Synaps. Transitioning to the multichain world, updates soon to be released on new EVM and non-EVM chains.

STAX to IF Migrated

Successfully migrated over to the new IF Token. 

Adopted Impossible DAO Structure

They have started to adopt a decentralized autonomous organization (DAO) structure powered by snapshot.org

Benefits of a DAO governance structure:

  • Aligns with the standards of global leading defi projects
  • Broadens community participation and reflects the spirit of BUIDLers
  • More transparent and accountable organization

3 Inaugural Council Members with DeFi experience elected from IF’s BUIDLer community:

  • Incubator, Ideas & Smart Contrast Architect 
  • Research & Operations
  • Legal & Compliance Specialist 

Roadmap

They are a product-first ecosystem that will support the most complete DeFi-powered ecosystem, from incubation through launch, exchanging and savings.

Q2 2021:

  • Technical
    • Migrate STAX to IF
    • Upgrade IF swap
    • BSC chain support
  • Operational
    • Onboarding projects on IF incubator and BUIDLer ecosystem
    • Additional partner onboarding
    • Complete IDIA fundraise

Q3 2021:

  • Technical
    • Launch Impossible Launchpad
    • Launch Multipurpose Swap on multiple EVM Chains (ETH, BSC, and Polygon)
    • Launch IF Governance & DAO
    • Work on integrations with other baskets, index, and investment tools
  • Operational
    • Launch IDIA token on Impossible Launchpad for IF Stakers
    • Launch first batch of incubated projects

Q4 2021:

  • Technical
    • Gradually launch IDIA staking tracks
    • Launch IF staking
    • Additional EVM chain support
  • Operational
    • Target 10+ projects on launchpad

2022:

  • Technical
    • Launch principal-protected products, IDIA Index & automated strategies
    • Explore non-EVM chains to deploy on (Solana, Elrond, Cosmos)
    • Additional integrations (i.e. index, tools, etc.)
    • IFUSD Minting
  • Operational
    • Grants Program
    • Insurance Fund
    • Target 30+ projects
    • Setup IDIADAO and Onboard 5 onchain funds

Official Links

Twitter: https://twitter.com/impossiblefi 

Telegram: https://t.me/ImpossibleFinance 

Disclaimer

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