ZoneBitcoin EditorialA new platform that allows you to make investments in DeFI has just appeared and it isImpossible finance. The protocol is composed of a decentralized incubator and a launchpad for investing in new projects in DeFi.
As a multi-chain incubator and launchpad, Impossible Finance also has a platform integrated exchange on which it is possible to exchange platform tokens.
The platform allows you to invest upstream in new web3 projects with targeted user audiences. This is then an opportunity toinvest in cryptocurrencies when they are in the start-up phase.
In this article we will see how Impossible Finance works and its particularity compared to others launchpads that exist on the market.
What is special about Impossible Finance?
Impossible Finance offers you projects that have been carefully analyzed by a team of experts. The platform promises you due diligence reasonable in order to participate more easily and confidently in early-stage investments.
Better still, thanks to these networks, exclusive offers generally reserved for funds are offered to you without minimum investment. You also benefit from better allocation mechanisms to obtain project tokens in the launch phase.
The goal is then to obtain greater returns on investments, in the event that the projects are a great success.
Impossible Finance: what are the objectives set?
The creation of Impossible Finance products meets specific objectives. This involves accelerating blockchain projects as a maturation agent between blockchain ideas and their realizations. This platform wants to facilitate investment in young projects. This then allows investors to participate financially in start-up projects. The idea is to recover a greater return on investment when reselling the tokens.
Impossible finance is currently available on the Ethereum chain, Polygon, Aribtrum, Aurora and Binance SmartChain. It is planned that other channels will be integrated into the protocols subsequently.
What are the Impossible Finance tokens?
Impossible Finance offers two native tokens for transacting on its platform. These two tokens are theIF and theIDIA. Users have the possibility to use one or the other according to their preferences. Each token has its own particularities.
➡️Token IF
As you can notice, the acronym IF stands for Impossible Finance. The IF token is the governance token of the platform, set up by the IFDAO. The token then allows you to participate in the governance decisions of the project mainly. It is possible to buy the IF token on PancakeSwap.
➡️ Token IDIA
It is with the IDIA token that you can invest in new projects. It will then be necessary to stake IDIA tokens to participate in projects. It is possible to buy IDIA token on exchange platforms like Poloniex or Mexc. It is also possible to buy IDIA token on pancakeswap or on the Arbitrum network on a DEX like Camelot or use a bridge.
It is also possible that certain projects require staking with other tokens, foreign to the Impossible Finance platform.
Note thatImpossible finance always offers you options to choose between IF and IDIA tokens. To make the right choice, it is therefore advisable to take their values into account when carrying out operations. Token prices can change several times within a few hours.
How to invest in Impossible Finance projects?
The first thing you will need to do is complete a KYC to be in good standing with the jurisdiction. This means that you will need to provide a scan of your identity document in order to subsequently use Impossible Finance.
Then, you must choose the project that interests you to invest. By clicking on the details, you will know the launch token price, staking duration and information about the project. It is from this moment that you must make a fundamental analysis and check to tokenomics to select your project.
Then, you will just need to obtain the token requested for staking.
From there, all you have to do is stake the token to be able to invest. The staking period will depend on the project in which you want to invest.
When the launchpad ends, you will automatically receive the tokens of the project in which you invested.
Our opinion on Impossible Finance
Impossible Finance is a new launchpad and in this sense, you have to take the time to discover the platform and see the feedback from the projects launched. Impossible Finance appeared in a bear market and it is therefore not easy to find massive users. Likewise, we observe a general drop in users on launchpads, even on the oldest ones like DaoMaker.
Likewise, there are few projects available on the platform. So, we think we still have to wait before seeing the benefits of Impossible Finance. Indeed, for the moment, due to a lack of numerous users, certain projects are unable to raise the necessary funds.
We also remind you to always do your own research before investing. Check each project carefully. Indeed, investing in projects in the start-up phase does not guarantee the future success of the project.
See also:
- GameFi (FATF): The launchpad tutorial specialized in games (IGO)
- Vent Finance, the crypto launchpad that monitors projects closely
- Liquiditfy: The launchPad that offers NFT airdrops to its members
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Note: This is not investment advice. Always do your own research (DYOR). Only invest amounts you are willing to lose. Trading is an activity that involves risks of loss of capital.
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