This is the announcement the Impermax community has been waiting for! The Impermax TGE (Token Generating Event) has an official date.
IMX Token Release
The IMX token is scheduled for release on Uniswap V2 Thursday April 29 at 12:00 pm UTC.
IMX Token Value Drivers
What drives value of IMX? Impermax is the only DeFi platform that allows Uniswap liquidity providers to borrow against their LP tokens and leverage their farming yields up to x20. As an Impermax user, any time there’s a surge in yields, you can increase your farming position up to x20 without adding any funds of your own. Or you can keep your LP tokens in your farming contracts earning yields while you access their value for other investments!
Up to 20% of all interest payments on Impermax are collected in reserves governed solely by IMX token holders, providing a steady income stream. For more information, see the article What’s the Purpose of the IMX Token?
To learn more about how Impermax is positioned to unlock billions of dollars in LP token value, see Introduction to Impermax.finance or visit our website Impermax.finance. Another good resource is the Impermax pitch deck.
Launch Price and Liquidity
The starting price will be $0.10. Due to 4-year lockups for growth funds, early investors, and team members, the circulating market cap of IMX at this price will be about $1.8M on the day of release.
1M IMX tokens will be provided for starting Uniswap liquidity. This is 1% of the max supply of 100M tokens. That’s a lot of liquidity!
Simultaneously with this release, Impermax will perform two airdrops. The first is for all the top liquidity providers on Uniswap. The second is for those who have used Impermax for borrowing or lending over the last 2 months.
Uniswap V2 Liquidity Provider Airdrop
With IMX launch, Impermax will airdrop 14M IMX tokens to the top 35,000 liquidity providers on Uniswap V2. Each of those accounts will receive 400 IMX tokens. Impermax is following in the footsteps of the famous Uniswap airdrop, which also dropped 400 tokens.
The airdrop snapshot was taken 12:00 AM UTC (block 12306079) Sunday April 25. Every Uniswap user providing at least $951.56 in that block will receive the 400 IMX.
Impermax Pre-Launch User Airdrop
Impermax will also make a separate IMX airdrop divided among early Impermax app users. This is based on snapshots taken each day since the app launched about 2 months ago, and is proportional to the the amount borrowed and/or supplied. In other words, each account will get a different amount based on time and amount of funds used on Impermax.
The final snapshot for the early user airdrop will be April 28, one day before the TGE.
IMX Leveraged Farming Begins
40% of the total supply of IMX is reserved for liquidity mining (farming) to be distributed over 4 years. The farming reward distribution curve starts off fast, with 2% of IMX total supply paid out in the first month! Check out the distribution curve and more details in the tokenomics article.
Farming will go live a few hours after the IMX TGE. This yield is paid only to users who borrow or leverage on the Impermax platform.
What is Leveraged Farming?
Leveraging any LP tokens also leverages your IMX rewards. This means Impermax lets you leverage your farming rewards up to x20 while leveraging other LP rewards at the same time. For example, if you leverage USDT/USDC LP tokens, you can earn x20 yield on the USDT/USDC pair, and x20 yield on IMX farming at the same time (minus interest payments to the lender.)
The Leveraged Farming program will pay rewards on eight token pairs, including USDC/USDT, and IMX/ETH, with more to be added as the number of pairs on Impermax increases.
Note: if you are already borrowing or leveraging on Impermax when the Leveraged Farming program goes live, you will need to manually start farming on those pairs.
See the Introduction to IMX Leveraged Farming for more details on the program and list of supported pairs.
Impermax is Planning for Uniswap V3
What will happen when Uniswap V3 launches? Impermax has plans to support Uniswap V3 as part of its development road map, which will be released soon. Impermax plans to bring its entire borrowing, leveraging, lending, and Leveraged Farming feature set to V3 although there are no announced dates yet.
The Impermax design model is based on using LP tokens as collateral for loans. Uniswap V3 changes the use of LP tokens, instead using a separate NFT to represent each user’s positions. Impermax plans to use its current design model modified to incorporate NFTs instead of LP tokens.
Welcome to the Impermax Community
If you’re interested in the future of DeFi, you’re invited to join the Impermax community and learn more about all the exciting developments.
Join the Impermax Telegram group
Follow Impermax.finance on Twitter
Read informative articles about Impermax on Medium