Impossible Finance Confirms OpenSwap as Maiden Launchpad Project

Impossible Finance just launched its newly-curated launchpad and confirms OpenSwap to be its first project.

The multi-chain DeFi incubator, Impossible Finance, and integrated Decentralized Finance hub interchain and decentralized booster, OpenSwap will collaborate and enjoy a ‘target small launch’ on the Initial DeFi Offering Launchpad. This latest announcement follows the two companies’ recent partnership agreement.

Impossible Finance Council Member and Core Builder, Calvin Chu, said about the agreement:

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. We’re thrilled to back the ultra-talented OpenSwap to the team, and to showcase what they have to offer via our multi-chain launchpad.

Coming back to Impossible Finance’s new launchpad, it is actually inspired by the design of Vitalik Buterin’s DAICO; hence, it is meant to support project teams and target audiences that truly engage in the platform instead of those who pump-and-dump. The assistance includes but is not limited to investor networks, incubators, hackathons, and other builder networks. Through KYC, on-chain whitelisting, and staking queues, allocation is made fair on the launchpad.

In addition, this launchpad launch of Impossible Finance relatively corresponds to its recent release of IDIA token—the platform’s dedicated token utilized for staking and earning allocations within the token launches. This event was rather a tremendous success notably on IDO staking, reaching $1 million within the first five minutes of the opening and afterwards, reaching an all-time high of $5.3 million. Overall, the event became 22x oversubscribed with over 2,000 users passing KYC.

With the cooperation of both Impossible Finance and OpenSwap, this first launchpad project of the two platforms is off to a great start and conceivably will provide improved services to consumers.