Impermax Partners With Mogul Productions To Enable Lending And Borrowing of STARS Tokens
Impermax is a permissionless DeFi platform designed to let Uniswap Liquidity providers borrow against their LP tokens and leverage their Uniswap yields.
We are pleased to announce a strategic partnership between Impermax and Mogul Productions. Mogul is the decentralized film financing (DeFiFi) and movie-based non-fungible token (NFT) platform that gives everyone a voice in the creative process.
Mogul’s STARS token
Mogul’s platform is built around their ERC20 STARS token. STARS holders can participate in governance, submit proposals, vote on which movies to finance, redeem for rewards, and stake STARS tokens for earnings.
STARS will be supported on Uniswap on the day of its release, currently scheduled for April 22. The Uniswap V2 STARS/ETH token pair will be added to the Impermax lending platform on the same day. STARS/ETH borrowers on Impermax will earn not only STARS/ETH LP tokens, but also Impermax’s IMX tokens.
This opens up some exciting opportunities for STARS/ETH Uniswap V2 liquidity providers and STARS token holders.
Borrowing STARS on Impermax
STARS/ETH liquidity providers will be able to leverage their Uniswap yields by using Impermax to borrow against their LP tokens and multiply their holdings. This will not only provide multiplied Uniswap farming yields, but will also farm and multiply Impermax’s IMX tokens at the same time. This means farming two tokens at once with a x3, x5, or possibly even higher multiple for a single Uniswap LP token.
Lending STARS on Impermax
For those who would rather be lenders, STARS holders will be able to supply their tokens for nearly risk-free lending and earn interest on them. These tokens are added to STARS/ETH Uniswap V2 liquidity. This means that through lending, STARS suppliers can earn returns from adding to Uniswap liquidity with no risk of impermanent loss.
New options for Mogul and Impermax users
Mogul is an exciting and innovative use case for DeFi. Through this partnership, Mogul and Impermax will bring more earning, borrowing, and lending options for STARS users and Impermax users alike.