Impossible x Forkast Price Protection Program
Hi Forkast Community,
As part of Impossible’s continued efforts to ensure the protection of our community, we are thrilled to announce that Impossible has secured a token Price Protection Program (a variant of the Impossible Price Protection Program) for Forkast participants.
Through our close partnership with the Forkast team, we are confident they will deliver on their protocol, roadmap, and vision of creating an innovative prediction market platform. This token price protection conveys the same confidence to all those who have participated in the Token Sale.
Only users who participated in Impossible and Ronin Launchpad’s Forkast token sale can access the downside protection. Kindly refer to section 3. Who is eligible to participate in the Program? for more information on eligibility.
The Forkast token sale will go live on both Impossible and Ronin Launchpad on February 12th!
1. How do we protect users?
To ensure token purchasers are safeguarded against market volatility, the Price Protection Program operates with a structured vesting and bonus token distribution mechanism. The key details of this program are outlined below:
2. Mechanism: How can you access the program?
Eligible users of the Forkast Token Sale from Impossible and Ronin Launchpads automatically gain access to the Price Protection Program. The process follows these steps:
- Token Purchase: Users purchase Forkast tokens through the Impossible Finance or Ronin Launchpad.
- Price Checkpoint on Day 45 after TGE: The market price is reviewed.
- Bonus Token Calculation: If the price is below the IDO price, additional tokens are allocated.
- Bonus Token Distribution on Day 60: Users receive their additional tokens if the price condition is met accordingly.
- Final Vesting Completion on Day 90: All tokens are fully unlocked.
3. Who is eligible to participate in the Program?
Users who are eligible for the price protection program consist of “eligible users” who are users whose wallet addresses participated in the Token Sale on Impossible and Ronin Launchpad. Under the Program, eligible users will receive bonus tokens if the price of the token falls below the IDO price and the tokens must be held in the same wallet address used in the Token Sale (“Sale Wallet”) for the first 14 days after TGE.
To clarify, users who are NOT eligible for the price protection program consist of:
- Users who have transferred their tokens out of the Sale Wallet; or
- Residents from countries or regions such as the United States, Cuba, North Korea, Iran, Iraq, Syria, Yemen, Sri Lanka, Venezuela, Crimea, Donetsk People’s Republic, and Luhansk People’s Republic regions or any other state, country or region that is subject to sanctions enforced by the United Nations. This includes sanctioned individuals from any country.
Impossible Finance and the project team reserve the right to modify the eligibility conditions before bonus token distribution and will notify the community if so modified.
4. Fund Custody & Transparency
A portion of the funds raised during the IDO is held in escrow to support the Price Protection Program. These funds are securely managed and allocated to ensure the sustainability of the initiative. Additionally, the funds can be placed in safe DeFi protocols to generate yield, further reinforcing the stability of the program while the project continues to develop and achieve its milestones.
5. Why are we doing this?
At Impossible Finance, we strive to set a higher standard for launchpads. We prioritize community protection, investor confidence, and the long-term success of our partnered projects.
By reserving part of the proceeds to fund the program, we are taking an important step towards our vision of creating a self-sustaining IDO model (SSIDO)—one that protects token holders while allowing projects to grow with confidence.
We believe this Price Protection Program to be an effective way to reduce investment risks and encourage sustainable growth.
About Forkast
Forkast is a prediction market platform designed for gaming and internet culture. Users can create and participate in prediction markets based on trending topics in gaming, memes, streamers, breaking news, and Web3 assets.
Community Gaming is the leading competitive gaming ecosystem, facilitating payments for over 50k tournament matches each month and 100k monthly active prediction users.
Both platforms are powered by CGX token, a versatile utility token used for staking and earning Loot Boxes. Since 2023, Community Gaming has paid over 120,000 gamers and created 750,000 wallets. Together, CGX fuels the largest platforms for competitive play and predictions across popular Web2 and Web3 games
About Impossible Finance
Impossible is an on-chain native, research advisory firm with a DeFi launchpad and accelerator. We help projects kickstart, fundraise, scale and launch their tokens while enabling users to learn, discover and invest in high quality crypto opportunities.
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Terms & Conditions
● DISCLAIMERS, TERMS, and RISKS
● Impossible reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.
● Users need to complete their KYC and also be from an eligible jurisdiction to participate in this token sale.