IDIA IDO – Updated Subscription Timeline

Hi Impossible Community 🐧

Hi Impossible Community 🐧

We have been experiencing higher user demand than anticipated during the start of our staking period. This is great news but it also comes with its challenges.

Given the two reasons below we decided to push back the IDIA IDO dates by 24 hours:

  • Technical difficulties with the staking contracts

  • KYC. Users have been asking if they can have more time to complete KYC so as to not miss out on the staking opportunity

Thank you for your patience and continuous support as we buidl the Impossible. Below we have explained the details and shared our solutions.

Updated Subscription Timeline:

  • *Dedicated KYC Preparation Period: 2021/08/10 5:00 AM (UTC) to 2021/08/13 5:00 AM (UTC). *Users can KYC anytime during the entire IDO timeline, but will not be able to stake until their KYC is completed

  • Staking Period: 2021/08/13 5:00 AM (UTC) to 2021/08/17 2:10 AM (UTC). After completing KYC, stake IF into Impossible’s Launchpad staking contract which will record user’s staked IF balances within the 4 day period. User’s IF balance will be captured onchain.

  • Purchase Period: 2021/08/17 7:12 AM (UTC) to 2021/08/18 6:32 AM (UTC). Subscription will open at this time for all eligible users for approximately 24 hours depending on BSC block times. Users may elect to purchase any amount of IDIA less than or equal to the allocation derived from the staking period.

  • Claiming Period: 2021/08/18 1:00 PM (UTC). Users will be able to claim their IDIA allocation on the Impossible Launchpad.

So what happened?

  • The unexpected amount of IF staked caused one of our smart contract stakeWeight variables to go beyond the limits it was designed for (uint104 with a limit of 2 trillion X 10¹⁸). Any attempt to update this variable will cause the transaction to fail, which includes both staking and unstaking. That means that users who staked IF won’t be able to unstake it.

  • As of Aug 12, 4pm UTC +8, the bottleneck variable in our smart contract has been identified and resolved. We’ve upgraded from an uint104 to a uint192 which is able to store a significantly larger number before overflowing. This is a limit that will not be reached for the IDIA sale or for future Impossible Finance launchpads.

Funds are SAFU!

  • We have a snapshot of staked IF right before the overflow problem. Users who successfully staked IF tokens will be 100% compensated. In fact, if you check your wallet now, the IF tokens have already been returned to you.

Additional benefits – An exclusive NFT

  • We sincerely apologize for the inconvenience. As such, users who successfully staked, will be eligible to claim an exclusive “First Launchpad Staker” NFT.

  • Users who were not able to stake, will still be eligible for this NFT if they stake within the first 24hrs of the start of the stake period tomorrow – between 2021/08/13–14 5:00 AM (UTC).

  • A list of those eligible winners will be published next week with instructions on how to claim their “First Launchpad Staker” NFT.

What’s next

  • Everything will continue as planned. The IDO dates will just be pushed back by 24 hours per the above updated subscription timeline.

  • There are ongoing campaigns which you can check through our socials (Axie Meme contest, CMC IF Airdrop, and more)

  • Stay tuned, we have very exciting announcements to share over the next 2 weeks!

Useful links

Learn more
Launchpad Research Report
Impossible Whitepaper
Impossible Website
Medium Announcements

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Impossible reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

Risk Warning: Trading and/or generally investing in any cryptocurrency involve significant risks and can result in the complete loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before investing, please consider your level of experience, objectives, and risk tolerance, and seek independent financial and legal advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Impossible Finance based on the legal and regulatory requirements of your country of residence and/or applicable jurisdiction(s).