Here you’ll find Calvin’s answers to our questions about ICO, IDO, and STO fundraising models. Calvin is the core builder of Impossible Finance. A builder-focused multichain ecosystem, Impossible Finance features a decentralized venture buildinger, accelerator launchpad and swap.
Hey everyone, I’m Calvin, a core builder at Impossible Finance, a multichain decentralized incubator, launchpad, and swap. Prior to joining Binance Launchpad, I was responsible for research and diligence and created the Binance Staking product that supports 30 blockchains.
Calvin, IF Core BUIDLer, used to work at Binance Launchpad. He was one of the first people to find out about some amazing projects, including Elrond and Axie Infinity.
Q: What’s the secret of finding great projects, BUIDLers, and teams?
A: Stay true to your research framework and spend time participating in hackathons. When you give your time to others and support and incubate them from square 1, it’s no surprise these teams will want to launch with your platform.
Q: What is an IDO?
A: Users stake Impossible’s IDIA token to gain access to allocation into public sales, and then can pay for these allocations using BUSD or tokens of their choice.
Q: Is there anything that makes an IDO different from an IEO or ICO.
A: In all of our launches, we stand for fairness and accessibility. We work hard to find early-stage projects that we can launch together, and then support them long term, not just during the launch.
Q: What are the IDO model’s pros and cons?
A: Users get access into deals that are usually not available to them – we focus heavily on democratizing access for users into top quality deals.
Q: You know crypto regulation is on the horizon. But, did you consider turning IF into a Security Token Offerings (STO) platform instead?
A: At this time, our platform does not allow securities. Instead we prefer to use our expertise in the work with tokens and other defiant ecosystems.
Q: What’s the main difference between IF and other IDO platforms?
A: IDO platforms use lottery systems, and other methods that do not allow everyone to access their services. To make it easier for everyone to participate, there are no minimums. This allows lower entry barriers and ensures that every participant goes home with something.
Q: What are the IF and IDIA tokens’ use cases?
A: IF refers to the token used for governance purposes in relation to the Impossible Swap or related products.
IDIA token is an access token users can stake in order to be allocated into the launchpad. Theres also a vIDIA token – a vesting IDIA token system to earn additional allocation in the launchpad for users who hodl Impossible tokens more long term.
Q: Some of the world’s biggest startups were born during bear markets. Is your company actively looking for new opportunities?
A: Yes! A: Yes! We still need more applications to the accelerator. https://impossible.finance/apply
Q: What is the future plan for IF? Any alfa drops?
A: Stay tuned for some of our upcoming launches – we’ve definitely not slowed down in the bear – if anything we’ve become even more busy during the bear market.