The Impossible AMA Recap w/ Solana
We had an AMA with Solana community back in August. Have a look at the recap of this exciting AMA! 🎉
We had an AMA with Solana community back in August. Have a look at the recap of this exciting AMA! 🎉
Chris: We’re ready to welcome Calvin to our AMA today 🙌
Calvin: Super excited to be here today! Thanks for having me
Chris: I’m really excited to be joined today by Calvin from Impossible Finance. Impossible Finance is a multi-chain incubator, launchpad, and swap platform which offers a robust product-first ecosystem that supports top-tier blockchain projects to targeted user audiences
Calvin: Thanks for the intro Chris!
Chris: The goal of this AMA is to provide an opportunity for the Solana community to learn more about Impossible Finance; who the team are and what they are working on. For the first part of the AMA, I will ask some questions to help us to learn more about Impossible Finance. The second part is an open floor for the community to ask questions! And I understand there could be some prizes for the best questions, is that right Calvin?
Calvin: Yes 🙂 we’ll select the top 10 questions to share a prize pool of $200 worth of IF tokens! So stay tuned to the end of the AMA to find out who wins!
Chris: Very generous, thank you! So my first question! Please tell us about yourself and why you joined as a council member of Impossible Finance?
Calvin: Hey everyone, I’m Calvin, a core builder at Impossible Finance, a multichain decentralized incubator, launchpad, and swap. I previously worked on research and diligence for Binance Launchpad and built up the Binance Staking product to support 30 different blockchains.
Sp, Impossible is singularly focused on being the best incubator, launchpad, and swap by employing a “business-to-developer” (B2D) approach to attract the top quality project teams to serve the best quality launchpad deal flow to end users.
Chris: Awesome, that’s a strong background! You answered this next question a little already, but can you tell us more about what Impossible Finance is?
Calvin: Yep! Impossible is a decentralized incubator, launchpad, and swap. The incubator is there to help early stage projects get ready to create a community around their projects The launchpad democratizes investment opportunities to the community, and the swap allows for assets to feely circulately post-launch on our platform so users and project teams can treat Impossible as a one-stop shop.
Chris: That sounds very exciting. As you mention, you were previously from Binance, can you share with us your core involvements in Binance and how your experience and track record is relevant to assisting Impossible Finance’s success?
Calvin: Yes! So fun fact — i was part of the team that helped list Solana on Binance 🙂 I helped build up the listing framework and a lot of the due diligence for early-stage projects, and I also built the Binance Staking project
Chris: 🤭 That is a TIL for me! So, I understand that your DAO has recently raised $7 million from many investors — can you let us know what you look for in your investors, any prominent ones and how their experience can be beneficial to Impossible Finance?
Calvin: Yes! The round was co-led by True Ventures, CMS Holdings, Alameda Research, and Hashed. Our amazing community of investors and supporters include Sino Global Capital, IOSG, Divergence, GBV, mgnr, Lemniscap, Primitive, Incuba Alpha, BR Capital, Coin98, Ternary Capital, The LAO, Maple Leaf Capital, Longhash, Bitscale, and others. A number of individual angel investors also participated, including Sandeep Naiwal (Matic), Kain Warwick & Jordan Momtazi (Synthetix), Bette Chen & Ruitao Su (Acala), Bobby Ong & TM Lee (Coingecko), Larry Cermak (The Block), Calvin Liu (Compound), Leo Cheng (CREAM), Suji Yan (Mask), and others.
Chris: Fantastic. Am I correct in thinking that your IDO for your Impossible launchpad is happening right now? I am keen to understand what makes your launchpad stand out from other launchpads, in terms of both the project team and retail investors?
Calvin: There are certainly a lot of launchpads, both centralized and decentralized, but with our “Business-to-Developer” (B2D) approach, Impossible stands uniquely at the intersection of an incubator, a launchpad, and a swap. We offer a full service featureset for both project teams and individual users, providing a one-stop solution for high quality projects to address their target markets. Impossible is not out just to merely sell tokens, but rather to place them into the hands of the earliest community supporters and real adopters who will use a project.
The project aims to serve all types of users and projects across any geography! We’d love to hear from you if you feel any specific country, region, or background is underrepresented!
The solana ecosystem is likewise super global, and we want to work alongside lots of project teams in growing our communities in different language regions. In fact, thusfar Turkey, Russia, Vietnam, Korea and many other non-English countries have been the most active
Chris: That is truly global, it’s what we love to see in the Solana ecosystem! So, how can people participate in the IDO?
Calvin: Yes! The IDO details can be found here:
We also have a video guide here: https://www.youtube.com/watch?v=s9nl8tEHPJQ
And here is the launchpad URL: https://invest.impossible.finance/launchpad
Chris: Now a question I love to ask in every AMA we host here, why did you choose to build Impossible Finance on blockchain technology? And why Solana, in particular?
Calvin: Our smart contracts will begin on all EVM chains (BSC, Polygon, ETH, Avalanche, Fantom, Moonbeam, and more!). The power of smart contracts allows for so much permisionless building that allows us to build money legos alongside each other
Thanks to Neon Project, which is adding EVMcompatibility to the solana ecosystem, we can enjoy the speed and throughput of solana with the interoperability of EVM worlds
Chris: Very interesting! What do you see as the potential for a high-throughput blockchain like Solana?
Calvin: Users shouldn’t know that it’s powered by blockchain, It should just work. That’s what I think should be the experience for users in the long run
Chris: I think we can definitely agree there! And my final question before opening the group back up: what are your thoughts on building a dapp versus creating a fund, etc.?
Calvin: Absolutely — it would be pretty easy to start a fund — but I think what’s powerful about building a web3 incubator is to be able to share your wins with the community, and allow the team to build in the open to create successes together
Chris: Remember everyone, you can join the Impossible Finance team’s Telegram here: https://t.me/impossibleann
And for the team’s latest Twitter updates, give them a follow here: https://twitter.com/impossiblefi
Calvin: The average performance of Binance launchapds such as Axie Infinity, Polygon, and Elrond, was ~2000X over the last 2 years, so thats obviously the track record that we’ve set and we want to be able to continue to do in the defi world, alongside our users
Chris: Awesome. I think that pretty much wraps up my questions!
Miledi: Tohave a guaranteed allocation we must have idia or if for future launchpad?
Calvin: Future launchapds after this first one will need IDIA. Current one requires IF.
Danfavour: Impossible Finance gives users high capital efficiency, minimal slippage and low fees. Please, how do you plan to achieve this especially when trading across multiple chains?
Calvin: Sure! We’re also very excited about our swap. Impossible is building a decentralized swap that offers lower gas fee trading than other major swaps, and lower slippage, using its asymmetric tuning and liquidity boosts. Full details on our swaps mechanics can be found here.
Koshala: I spent a significant amount of time researching impossible finance. According to reports, your financial assets were only available to a select group of institutions and individuals. This, in my opinion, means that you now have a solid framework for your project… Could you please tell us about all of the previous services and products you’ve used to provide this? What criteria did you employ?
Calvin: The remaining tokens have already been circulated, users just have not converted them over to IF from the previous stax token.
~: How are you different from other pre-sale platforms? Also, how will the pre-sales take place (Lottery, FCFS etc.) Why we chose impossible finance? @calchulus
Calvin: Sure! Our approach is a business-to-developer (B2D) model that addresses issues inherent in legacy launch infrastructure while creating specialized, sector-specific investment tracks that direct allocation towards power users and away from speculation. In doing so, Impossible intends to provide an end-to-end solution to help projects raise once and build forever while showing that retail and institutional investors alike can participate fairly, creating sticky support to fundraising projects.
Friedrich: Why did you choose the name imposible finance and what makes the impossible, possible?
Calvin: Even just last year, fair & open public launches seemed impossible. Open access for fully decentralized financial opportunities seemed impossible. Fundraising from the crowd seemed impossible. We want to tackle some of the hardest challenges within fundraising and investment and provide it all in one product.
Get it: How secure is your platform to use? Have you done audits of smart contract? What security measures are adopted from bugs of smart contract and hacking?
Calvin: Our team has double audited the majority of its smart contracts, continues to select careful partners in code review, and offers bug bounties and works with insurance teams to provide the best peace of mind for users.
We have also prepared an insurance fund to ensure that our users’ funds are SAFU and remain our number one priority.
GONG: Could you tell us more about how you support builders? For example, famous launch pads such as DAOmaker are activating collaboration between products.
Calvin: Yep — we prioritize product integrations and helping projects go into multiple ecosystems and launch in the multichain world
Chris: I think we’re wrapping up for today! The Impossible Finance team will reserve 3 more winners if you head over to their Twitter page: https://twitter.com/impossiblefi
Thank you again to Impossible Finance for joining us and to all of our community members who have participated!
Calvin: Really appreciate the time today, and again feel free to ask us questions any time!
About Impossible Finance
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.
With the extensive support of key leaders in the crypto industry, Impossible Finance strives to simplify DeFi, making it easier for the users to enjoy its benefits in particular fairer investing, cheaper trading and higher passive income.
$IDIA token is the core governance and access token for allocation into our launchpad IDO sales.
$IF token is the core governance and fee accrual for the swap and other non-launchpad products within the Impossible family.
Thanks for your amazing support and let’s buidl the Impossible together!
Terms & Conditions:
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).