The Impossible Finance IDO 20 — Brickken Token Sale
Brickken simplifies the creation, selling and management of digital assets, by providing a comprehensive platform with user-friendly tools, making it effortless for companies to tokenize.
Hey Impossible community, we are excited to announce our 20th IDO with tokenization platform Brickken!
The past year has been a tumultuous one for crypto which saw many investors flocking to less volatile DeFi products in search for greater stability and security. This has led to the rise of real world assets (RWA) tokens that offer more stable DeFi yield to investors. RWAs are tangible assets from the real world (e.g., luxury collectibles, real estate, financial products) that are brought on-chain in the form of tokens. According to Boston Consulting Group (BCG) research, RWAs have the potential to become a $16 trillion dollar industry by 2030. Already, we are beginning to see the emergence of more RWA protocols like Brickken that capitalize on this growing demand.
What is Brickken?
Brickken provides a tokenization solution for businesses, entrepreneurs and investors focused on managing their digital assets. Their flagship product, Token Suite, enables companies to create, sell and manage digital assets backed by RWAs, thereby creating greater efficiencies for companies during private and public fundraisings. With its one-stop solution, Brickken aims to standardise the tokenization process and supports companies through the entire tokenization lifecycle.
BKN is Brickken’s native token that powers the protocol, driving integral connections and synergies between stakeholders such as token issuers, investors, and the Brickken partners and the community.
Some of the BKN token utilities include:
- Staking incentives & collateralised tokenization
- Access to exclusive perks from Brickken and token issuers
- Participation in governance
- Lending mechanism
- Commission for referral program
You can learn more about Brickken by checking out their whitepaper. More details, insights and whitelist activities will be shared over the next few weeks across both Impossible and Brickken channels.
Subscription Timeline
Brickken Token Sale Details
**Updates to the Token Vesting dates and distribution amount as of 20/07/2023
Buy-back Protection Program
Brickken has pledged to buy-back BKN tokens in the event token price falls beyond a certain threshold.
Unlocked Tokens
This refers to BKN tokens that have already been claimed. Should the BKN token price fall below the buy-back price of US$0.09, eligible users will be able to sell their liquid (claimed) tokens at US$0.09 on OpenSwap.
Locked Tokens
Additionally, users will have the option to cancel the lock-up period of their remaining tokens in the vesting contracts and get airdropped back stablecoins based on the buy-back price of US$0.075 for locked tokens.
More details to be released in the Brickken buy-back blog post.
*Evaluation Period: The time which Impossible will determine if the token price has/will drop below the downside protection price.
**Opened: The time in which the buy-back will be available if Impossible decides to open up the program during the Evaluation Period
Launchpad Pools (Sale cards)
For Brickken BKN IDO, there are 4 sale cards to cater to different users:
- IDIA Standard Sale: Stake limit — Users can stake a maximum of 25,000 IDIA tokens at any one time as consideration for allocation. The maximum BKN a user is able to purchase is capped at the user’s allocation which is calculated after the staking period.
- vIDIA Standard Sale: Stake limit — Users can stake a maximum of 50,000 vIDIA tokens at any one time as consideration for allocation. The maximum BKN a user is able to purchase is capped at the user’s allocation, which is calculated after the staking period.
- vIDIA Unlimited Sale: No stake limit — Users can stake any amount of vIDIA at any time as consideration for allocation. The maximum BKN a user is able to purchase is capped at the user’s allocation, which is calculated after the staking period.
- Whitelist Allocation Sales: Users can participate in our upcoming whitelist marketing campaigns and complete community-oriented tasks to stand a chance and win guaranteed BKN allocation. Stay tuned to the Impossible Finance social media channels and for more details!
How to Purchase IDIA Tokens
If users do not have IDIA tokens yet for the BKN IDO, you can purchase it via the below venues:
- Optimal route: Arken Finance
- Arbitrum: Chronos
- BSC: Thena Finance
Why vIDIA
- Increase available token types for staking
- Earn Rewards
- Improve stability of IDIA before, during & after IDO staking periods
- Ensure fairness and equality for all Impossible users
How to get vIDIA
You can get vIDIA by vesting your regular IDIA tokens into vIDIA tokens. Your IDIA will be converted on a 1:1 ratio to vIDIA. To obtain your vIDIA tokens, visit here.
Helpful Guides
New to Impossible Finance? Check out some of our guides to get started!
- Learn more about vIDIA, read this article or watch this video
- Learn how to use our launchpad
- Learn how to manage your account
Token Allocation Calculation
- The token sale for BKN 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 BKN token depending on which pool they enter into. As we develop the Impossible launchpad product offering, we will enable other fair, smart allocation mechanisms which will further decentralize token distribution.
KYC Details
- KYC Preparation Period: Rolling ongoing basis. We require 50 IDIA or 25 IF tokens to start KYC to prevent bots from spamming our 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
- For more details about how to verify your wallet and pass KYC, follow our guide here!
About Brickken
Brickken simplifies the creation, selling and management of digital assets, by providing a comprehensive platform with user-friendly tools, making it effortless for companies to tokenize.
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About Impossible Finance
Impossible Finance is the go-to crypto investment platform that empowers you with high-quality, fair and accessible crypto opportunities. We simplify DeFi so you can enjoy fairer investing, cheaper trading and better yields through our accelerator, launchpad, and swap platform.
