Impossible is thrilled to announce that Openswap (OSWAP) has graduated from the Impossible Incubator and will be the second launchpad project — Impossible IDO #2 — OSWAP Token Sale.
To learn more about Openswap, check out it’s whitepaper. Over the next few days, Impossible will share an interview with Bruce Chau, the founder of OpenSwap, followed by the Impossible Research Report.
Get started here: https://invest.impossible.finance/launchpad
Learn how to use the Impossible Launchpad here
Dedicated KYC Preparation Period: 2021/08/22 5:00 AM (UTC) to 2021/08/29 5:00 AM (UTC): During this period, you can submit your information and pass KYC.
You can KYC anytime during the entire IDO timeline, but will not be able to stake until their KYC is completed.
Staking Period: Block 10356900 to Block 10472100 estimated to be 2021/08/26 05:00 AM (UTC) to 2021/08/30 05:00 AM (UTC). After completing KYC, stake IDIA into Impossible’s Launchpad staking contract which will record user’s staked IDIA balances within the 4 day period. User’s IDIA balance will be captured onchain, and allocation is calculated based on the amount staked and the length of time staked relative to all participating users.
Purchase Period: Block 10478000 to Block 10506900 estimated to be 2021/08/30 10:00 AM (UTC) to 2021/08/31 10:00 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 OSWAP up to the allocation derived from the staking period.
Claiming Period: Block 10509300 estimated to be 2021/08/31 12:00 PM (UTC) onwards. Users will be able to claim their OSWAP tokens on the Impossible Launchpad.
Openswap Token Sale Details:
Token Name: Openswap (OSWAP)
Launchpad Sale Hard Cap: 340,000 USD (split into multiple pools)
Standard pool: 164,500 USD
Unlimited pool: 164,500 USD
Campaign Whitelist pool: 11,000 USD
Total Token Supply: 1,000,000,000 OSWAP
Day 1 Circulating Market Cap: $1,000,000
Tokens Allocated to Impossible Launchpad: 8,500,000 OSWAP* (0.85% of Total Token Supply)
Public Sale Token Price: 1 OSWAP = 0.04 USD (BUSD)
Listing Price: TBD — 0.05 USD (BUSD)
Token Sale Format: Staking Subscription
Sector: Impossible Finance Markets Track
Supported Staking Tracks: IDIA staking only
Learn more on their Tokenomics here
Launchpad Pools (Sale cards)
For OpenSwap (OSWAP) IDO, there would be 2 sale cards to cater to different users:
Standard Sale: Stake limit — Users can stake a maximum of 10,000 IDIA tokens (approximately 5,000 USD worth at time of calculation) at any one time as consideration for allocation. The maximum OSWAP a user is able to purchase is capped at the user’s allocation which is calculated after the staking period.
Unlimited Sale: No stake limit — Users can stake any amount of IDIA at any one time as consideration for allocation. The maximum OSWAP a user is able to purchase is capped at the user’s allocation which is calculated after the staking period.
Note: As a marketing campaign whitelist allocation winner, it is possible that in addition to these 2 sale cards, there would be additional sale cards corresponding to the $50 or $100 whitelist campaigns that users participated in and won. For all other non-winners (i.e. did not participate or participated and did not win), you should only see the Standard Sale and the Unlimited Sale cards.
How to purchase IDIA Tokens
If users do not have IDIA tokens yet for the OSWAP IDO, it can be purchased below via venues:
OpenSwap (Optimal way to find the best on-chain swap options)
Token Allocation Calculation
The token sale for OSWAP will follow the standard Impossible Launchpad staking subscription format whereby users’ stakeWeight is calculated based on the proportional amount of IDIA they stake and the duration they stake relative to the total amount and staking duration of the entire pool, with users’ staked IDIA balances recorded at the start of the stake period.
This design is currently selected to ensure that all users can have a proportionate access into the OSWAP token depending on which pool they enter into. As the Impossible launchpad product offeringbis being developed, other fair would be enabled, smart allocation mechanisms which will further decentralize token distribution.
KYC Preparation Period: Rolling ongoing basis. 100 IDIA or 10 IF tokens would be required to start KYC to prevent bots from spamming the KYC partner. Users can KYC anytime during the entire IDO timeline, but will not be able to stake until their KYC is completed. To maximize the staking utility of users’ IDIA, users have to pass KYC before the staking period begins. In other words:
If users pass KYC after the end of the staking period, they will miss the opportunity to participate
If users pass KYC during staking period, they will only be able to stake for the remaining staking period and receive a lesser allocation than if they were to start staking from the beginning of the staking period.
OpenSwap is committed to becoming the most comprehensive one-stop DeFi hub offering the best on-chain pricing and multi-chain arbitrage and trading. OpenSwap allows users to experience benefits through optimizing their trades with OpenSwap’s unique features: Liquidity Queues, Hybrid Routing, DEX Aggregator, and Inter-Chain Liquidity Swaps, all on one platform.
About Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform led by Ex-Binance & DeFi veterans. It offers a robust product-first ecosystem that supports top-tier blockchain projects to targeted user audiences. With extensive support from key leaders in the crypto industry, Impossible Finance simplifies DeFi for users to enjoy fairer investing, cheaper trading and better yields.
Terms & Conditions:
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.
Users need to complete their KYC and also be from an eligible jurisdiction to participate in this token sale.
Impossible Finance makes every effort to ensure that the actual time follows the above planned schedules. However, there is a high chance that there is a discrepancy between these 2 times due to the very nature of blockchains.
In smart contracts, each event (e.g. staking) is triggered when a specific block is reached, and with block times entirely dependent on network/infrastructure conditions (some block times can be longer than 30% than the average), it can be challenging to predict the block that corresponds to the exact planned time.
When the event is further out into the future, it becomes harder to predict the exact block due to the larger number of unpredictable blocks between now and then. An interesting side effect of this is that the nearer the event gets, the more certain of the event time we become. And so, the Impossible team has a dynamic frontend that updates the estimated time that corresponds to the specific event block.
Again, while the team makes a best attempt to make each event happen at the said planned schedule, reality is still likely to be different. As such, sub-features are made like calendar reminders scheduled with a 95% confidence that they are early with 2 disclaimers:
(i) There is a small chance that the event happens before the reminder.
(ii) You would be asked to check the main product page for a more accurate event time closer to the planned time.