What is Impossible Finance? All about IDIA and IF Token

What is Impossible Finance?

Impossible Finance is a DeFi platform that contains a variety of products such as Launchpad, AMM, and others. The primary goal of the initiative is to develop items that will reward investors.

Furthermore, the initiative offers a fundraising platform called Incubator Fundraising to attract investor investments to develop the project's ecosystem.

The project will try to deliver the following features in order to provide the greatest user experience possible:

• Secure: The project is quite focused on security features by building multiple layers as well as allowing the project to be audited.
• Fast: Impossible Finance users will have access to the best technology platforms, ensuring the shortest wait times and functionalities possible.
• Low fees: Fees for slippage and smart contract transactions would be kept to a minimum amount for users.

At the moment, new projects face numerous obstacles in terms of funding and garnering users' attention. Launchpad is an innovative approach to resolving these issues for new projects.

Additionally, this leaves the development team with more time, allowing them to focus more on operating, developing, and managing the project.

How does Impossible Finance work?

As I previously stated, the project would include a variety of services to fulfill the users’ needs. In this section, I will go through each component in detail to explain how it works.

AMM

This is the first product of Impossible Finance. The features of this protocol are also quite similar to other AMM platforms as users can swap tokens or provide liquidity on the platform to receive rewards.

Learn more: What is AMM?

Impossible Finance's AMM is being evaluated as having a low gas level when compared to major AMM platforms in the market such as Curve or Uniswap.

Launchpad

Launchpad on Impossible Finance is a platform that allows users to purchase early-stage projects.

Users are required to go through the KYC procedure before the project reviews and verifies them for you to participate in the IDO process. The review process will be complete in one day to ensure that buyers do not miss out on any investment opportunities.

The platform is fairly new, therefore, only 3 projects were listed in the past months.

• Blocto: Cross-chain NFT ecosystem.
• Anyswap: AMM, DEX platform.
• IDIA: Token governance.

What are IDIA & IF token?

The project will have two tokens to work in parallel for different purposes: IF and IDIA.

IF will have project management features while IDIA will be in charge of Launchpad administration and used to participate in the IDO process.

Detailed information about IF Token

IF Token Metrics

• Token Name: Impossible Finance Token.
• Ticker: IDIA.
• Blockchain: Binance Smart Chain.
• Token Standard: BEP-20.
• Contract: 0x0b15ddf19d47e6a86a56148fb4afffc6929bcb89
• Token type: Utility, Governance.
• Total Supply: 6,980,129 IDIA.
• Circulating Supply: 45,000,000 IDIA

IF Token Metrics

• Token Name: Impossible Finance
• Ticker: 0xb0e1fc65c1a741b4662b813eb787d369b8614af1
• Blockchain: Binance Smart Chain.
• Token Standard: BEP-20.

IF Token Allocation

• Ecosystem & Incubates: 25%
• DAO & DAO Comm. Partners: 21%
• Team: 20%
• Strategic Sale: 15%
• Staking Rewards: 10%
• Reserves: 5%
• Initial Liquidity Provision: 2%
• Gitcoin Grant: 2%

IF Token Sale & Release Schedule

Impossible Finance ICO ended with $7.2 million raised. The Token Release Schedule is as below:

How to buy IF token

Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.

You can use Coin98 Exchange to swap other tokens for IF following these simple steps with: https://exchange.coin98.com

Step 1: Connect Coin98 Extension Wallet.

Step 2: Select PancakeSwap.

Step 3: Choose coins/tokens for trading:

• Search IF
• If the result does not come up, you can paste the contract of IF into the search box: 0x0b15ddf19d47e6a86a56148fb4afffc6929bcb89

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

How to store IF token

You can store IF token on Coin98 Wallet with these steps:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search IF Token.

Step 3: Click on the correct result, copy the wallet address and send IF to this address.

Roadmaps and Updates

There are few important updates in Q3 2021:

• Launch IDO & IDIA.
• Impossible IDOs & Targeted Launches.

Team, Investors, and Partners

Team

Calvin Chu - Project Founder: He used to work at Binance Research and appraise projects before joining Binance Launchpad.

Investors

Below is a list of investors in the project. Among them is Hashed Capital which is a famous fund that has invested in other popular projects such as Ethereum, Terra, ICP...

Is IF a good investment?

This article has provided some of the main ideas related to the IF token and its implications. There is no financial advice in this post because it is intended to give you a thorough understanding of the project.

However, it is important to note that there are a few key points that investors should take into account before making investment decisions:

• Because the project has only recently started, it is still in the process of developing and improving its features. However, in addition to being a Launchpad platform, Impossible Finance also offers AMM platform features like swapping, liquidity mining, low-gas fees.
• Binance Launchpad is one of the most popular listing platforms with very high ROIs. The project's founder has previously worked with Binance Research and appraised IDOs on Binance Launchpad. With that in mind, Impossible Finance pledges to offer high-quality projects to its Launchpad platform.
• In the roadmap provided by the team, IDO projects on Impossible Finance will perform treasury management after the IDO process. This partnership will help provide liquidity as well as attract users to Impossible Finance. In addition, the project team will participate as technical advisors for projects opened for sale on the Launchpad to ensure the quality for users. However, there aren’t many listings completed on the Launchpad yet, we should monitor succeeding projects and compare their ROI after the listing phase.

Learn more: What is Bibox Token (BIX)? All about BIX Token