August 18, 2021 — Multi-chain DeFi incubator Impossible Finance has confirmed that OpenSwap will be the first project featured on its newly-created launchpad.
An integrated DeFi Hub conceived as an interchain, decentralized liquidity booster for traders, OpenSwap will enjoy a ‘targeted smart launch’ on Impossible’s highly anticipated 3Initial DeFi Offering Launchpad. The announcement follows a recent strategic partnership agreement between the two platforms.
“OpenSwap is a godsend for DeFi traders, enabling them to access best pricing and multiple liquidity aggregation functionalities that are at the cutting edge of the industry,” said Impossible Finance Council Member and Core Buidler, Calvin Chu. “We’re thrilled to back the ultra-talented OpenSwap team, and to showcase what they have to offer via our multi-chain launchpad.”
Impossible Finance’s launchpad launch coincides with the release of the IDIA token, the platform’s dedicated token used for staking and earning allocations within token launches. IDO staking has been a tremendous success, with committed staked capital reaching $1 million within five minutes of opening and hitting an all-time high of $5.3 million thereafter. The event ended up being 22x oversubscribed & over 2,400 users passed KYC .
Inspired by Vitalik Buterin’s DAICO design, Impossible Finance’s new launchpad is intended to support project teams and help target engaged audiences rather than those prone to pump-and-dump. This support encompasses an investor network, incubators, hackathons, and other builder networks. Allocation is made fair through KYC, on-chain whitelisting and staking queues.
Designed to empower customers to make informed swap decisions and acclimate to zero slippage, OpenSwap recently raised $1 million from a strategic funding round, with support from a slew of top-tier VC funds including Coin98 Ventures, NGC Ventures, BR Capital and Prime Block.
About Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform. Built by DeFi veterans, avid hackathon goers, and financial product aficionados, Impossible offers a robust product-first ecosystem that supports and launches top-tier blockchain projects to targeted user audiences.
About Team
Impossible Finance is led by Ex-Binance & DeFi veterans, including Calvin Chu from Binance Research. Calvin was part of the selection, incubation and pre/post launch advisory process for Binance Launchpad with notable projects such as Polygon (Matic), Elrond, Axie Infinity and Harmony.
Instead of joining a prominent venture capital fund or starting his own, Calvin wants to replicate his success at finding top-tier projects at Binance, by building in the open and sharing his knowledge and experience to find the best projects alongside the Impossible Finance community. This is aligned with Impossible’s vision of democratizing finance and making it more accessible to all.
With the extensive support of key leaders in the crypto industry, Impossible Finance strives to simplify DeFi, making it easier for users to enjoy its benefits, in particular fairer investing, cheaper trading and higher passive income.
About OpenSwap
OpenSwap, developed by IJS Technologies, is an interchain, decentralized liquidity booster for traders seeking concentrated, sustained liquidity. With the backing of Impossible Finance and technology contributions from IJS Technologies, an OAX Foundation grantee, OpenSwap has introduced a new feature called liquidity queues, which are equipped with a secure adapter protocol that opens the door to a new type of secure swapping. Traders can take advantage of trusted oracle-based pricing, and liquidity providers gain access to controls and safety measures while earning transaction fees. The team’s goal is to empower users to make smart swap decisions based on real-time and reliable data on an easy-to-use platform, and to facilitate zero slippage.
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2021-08-18 15:00:20
