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EM3 Community Interview | What problems does Impossible Finance, founded by former Binance research team members, aim to solve?

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EM3 Community Interview | What problems does Impossible Finance, founded by former Binance research team members, aim to solve?

This article is provided, edited, and for research reference only by the cryptocurrency community EM3. It is not investment advice.

On the 17th, core contributor Calvin of Impossible Finance conducted an AMA interview in the EM3 community. The following day, its LaunchPad token issuance platform governance token IDIA also saw a significant increase. Let's review the content of the interview:

Introduction of Calvin, Core Contributor at Impossible Finance

Calvin: Hello everyone, I'm Calvin from Impossible. Previously, I spent three years in the research team at Binance, mainly designing the listing framework, Launchpad, and in 2019, I worked on Staking products. At Impossible, I am focused on building a decentralized incubation system, Launchpad platform, and DEX.

Issues Addressed by Impossible Finance

Calvin: Even last year, Fair Launch and public offerings seemed unlikely. Providing decentralized financial opportunities to everyone and crowdfunding also seemed improbable. We aim to tackle the most challenging aspects of fundraising and investment and address these issues within a single product. Our goal is to achieve "The Impossible" for projects - enabling funding while building their own communities and user base.

Advantages of Impossible Finance

Calvin: We have a diverse team with rich experience from Binance, Bybit, Matrixport, Republic, Ant Financial, and other major players. At Binance, we assisted many talented teams in launching successful projects on Launchpad, such as popular projects like Axie Infinity, Harmony, Elrond, and Polygon, which are EVM-compatible. This experience gives us a unique competitive edge.

Future Plans of Impossible Finance

Calvin: We are excited to announce that we just launched our first token sale project, IDIA, on the Impossible Launchpad. Within the first 5 minutes of the subscription limit, the capital pledged in IF tokens for subscribing to IDIA exceeded $1 million, and the total staked amount reached up to $5.3 million within three days. Looking ahead, our goal is to incubate and launch over 15 projects next year.

Advantages Compared to Sushi's Launch Platform MISO

Calvin: While there are many centralized and decentralized LaunchPads, Impossible stands uniquely at the intersection of an incubator, LaunchPad, and Swap through our "Business-to-Developer" (B2D) approach. We provide comprehensive service integration for project teams and individual users, offering an all-in-one solution for high-quality projects to meet their target markets. "Impossible" is not just a token issuance platform; it aims to empower projects' earliest community supporters and actual users.

In essence, we believe quality is paramount - by nurturing the best projects, we can create the best launchpad. Also, we have high expectations for Sushi's ecosystem.

As a side note, 0xMaki is actually one of our investors. We are also very optimistic about various decentralized token auction methods, such as Balancer LBP, Sushi Miso, etc. - their tools are very useful.

Developing Impossible Finance aims to be a complete launchpad suite, where project teams do not need to understand auction theory for IDOs, as I have a background in economics and have paid the tuition for them. Project teams won't need to worry about that, haha.

Token Investment Decided by Community or Team?

Calvin: In the short term, decisions are made by our team, but in the long term, we hope to gradually transition into a DAO model. In the world of Crypto, we all are part of Web 3, and if interested, you can refer to our article on the Impossible DAO.

Preventing Excessive Token Volatility in Investments

Impossible Finance requires IF token staking to participate in IDOs. Some in the community inquire whether there will be situations of significant price surges before IDO investments and sharp declines after IDO. Is there a way to prevent such occurrences?

Calvin: There are methods to address this, such as single-coin staking activities or LP dual-coin liquidity, which are currently under consideration.

Why Choose BSC for Launch?

Calvin: BSC is still considered a "stepchild" of Binance, but for many Binance users, it is the first market to participate in DeFi with low fees, making it essential to introduce more friends to the world of Web 3. We will continue to maintain a relationship with BSC that is not entirely independent but not entirely dependent.

How to Evaluate Projects Worth Incubating?

Calvin: Each case is unique, and we support all types of projects, especially DeFi. When selecting teams, what matters is not their current progress but where they will be in 4 years, what they will become. We are willing to collaborate with projects at different stages, with varying progress and capabilities, to help them grow. We are currently incubating around 13 projects, some short-term and some longer-term.

Afterthoughts of the Interview

Finally, Calvin mentioned that Impossible Finance is currently recruiting, conducting talent mining. If there are no suitable positions within Impossible Finance itself, don't worry, as the projects incubated by Impossible Finance will also have opportunities. You can reach out to Calvin and Impossible Finance via Twitter. Teams interested in joining the Impossible incubator are welcome to apply through the provided form; someone will contact you soon.

As of now, over 2,000 individuals have participated in the KYC token subscription for IDIA, with a pledged subscription amount exceeding $5.3 million, 22 times more than the expected IDIA sale. Shortly after opening on PancakeSwap, OpenSwap, ImpossibleSwap, and MXC, IDIA's price soared to 10 times the public offering price of $0.075 within the first hour and reached a trading volume of $3.26 million on PancakeSwap within 12 hours.

In the future, Impossible Finance will continue to incubate more DeFi projects compatible with multiple chains, launch them on the LaunchPad, and establish their exclusive communities. We look forward to the development of Impossible Finance and various opportunities for IDIA's continued growth. According to Coindesk's report, OpenSwap will reportedly be the first DeFi project on the Impossible Finance LaunchPad.

EM3DAO is an investor community that has been early adopters of DeFi, with many members being researchers or developers in the blockchain industry, participating in the issuance of various projects like YFI, Sushi, Link, CKB, QSP, Tomo, MTA, BLT. We anticipate more interactions between EM3 and Impossible Finance in the future.

For more information on Impossible Finance and IDIA:

Impossible Finance Community Channels: