How Can You Share In The Success Of Impermax?
Impermax is positioned to open up a whole new category of DeFi lending based on LP tokens. There are multiple opportunities for people to share in Impermax’s success and make a positive impact on the project. Here are some of those methods, all of which can benefit both you and the Impermax community.
Add supply to earn interest as a lender
Users can supply ETH, USDT, or any tokens for Impermax pairs, and in return, they will earn interest as a lender. By adding supply, people help the Impermax ecosystem function and grow, as supply allows more lending and better borrowing rates. The tokens you supply will usually be put back into Uniswap, meaning they will generate yield for the borrower, which will be paid to you as interest with no risk of impermanent loss to you. Lenders earn at least 80% of all interest payments on their supply, as well as 80% of each borrowing fee. This makes being a lender a potentially lucrative and enticing opportunity.
Deposit LP tokens, borrow against them, and invest the borrowed funds
Impermax allows people to deposit their Uniswap LP tokens, borrow the tokens in that pair, and then invest those borrowed tokens. This provides liquidity to the AMM (automated market maker), which helps keep the project running strong. For example, you can keep your USDT/USDC LP pair generating yield for you in Uniswap while you have borrowed against it to buy and hold another coin.
Leverage your LP tokens and earn more yield
Impermax lets users borrow tokens, use them for more LP tokens, and use those to borrow even more tokens. This creates an opportunity for people to leverage on their yield all in a single transaction. Once Impermax’s IMX token is released, there will be even more opportunities for yield, as IMX will be distributed to borrowers relative to the size of their loans, therefore allowing people to yield farm tokens with leverage. The higher the leverage, the higher the yield. It creates a massive incentive for people to borrow with Impermax.
Gain access to the IMX airdrop
By adding supply, borrowing, or leveraging any tokens on Impermax, you will become part of the IMX airdrop. Tokens will be dropped based on the size of each user’s supply or borrowing position over time prior to launch. IMX is a simple governance token that lets people control interest rates, fees, and the distribution of earnings. It gives users the ability to make important decisions on how Impermax works as a whole. IMX will first be distributed via airdrop, meaning that people who use Impermax now will be the first to get hold of it. There’s no presale planned, so this may be the only way to get some before it goes public. One more point: if the total amount of borrowed funds reaches $2M before the token launch, this airdrop will be doubled.
Watch for the public release of IMX
The IMX token holders will own and control all profits generated by the Impermax ecosystem, and so fans of this project should keep an eye out for when it releases. As IMX allows for both governance and yield farming with leverage, there is huge incentive for people to buy it up once it reaches exchanges, or deliberately get access to it by using Impermax. Once IMX is released, governance and decision-making will pass to those who hold it, which will be increasingly significant as Impermax continues to grow. Holders can vote proposals to take profits whenever they want, or implement an automatic regular payment to IMX holders.
Spread the word about Impermax on social media and chat to increase the user base
For the Impermax ecosystem to grow, people need to spread the word about it and tell their peers and social media connections. Essentially, anybody who provides liquidity to Uniswap will find Impermax enticing, as it allows them to get more investing power out of their LP tokens. As Impermax grows, it will also support LP tokens from other DeFi exchanges such as SushiSwap and Curve. The best incentive for spreading the word is that Impermax helps create economic efficiencies across Uniswap (and other AMMs that will be supported in the future). By potentially reducing risk to users, it incentivizes more people to become liquidity providers for Uniswap, which helps stabilize the market. In addition, whenever the yield of an LP token surges upwards, you can instantly multiply that yield by 5x or 10x using leverage.
More opportunities to come
These are some of the current ways people can make a positive impact on Impermax while also sharing in its success, but as this project grows, more opportunities will arise. Keep Impermax on your radar via social media to find out about its latest developments and releases, and you’ll see new ways to share in its success in the future.
