The Impossible Finance IDO #21 – Eclipse Fi Token Sale
Dearest Penguins,
We are excited to officially announce our Flash Sale IDO #21 — Eclipse Fi! Eclipse Fi is a groundbreaking modular launch and liquidity solution designed to transform token launches and drive innovation on the Cosmos blockchain and beyond. This platform provides a comprehensive modular solution, empowering projects to oversee the entire token launch process, customize launch methods, and tailor flows according to their specific distribution and liquidity needs.
As the leading launch and go-to-market platform for Neutron, Eclipse Fi is strategically positioned to capitalize on the anticipated growth of Neutron, propelled by its innovative technology, robust ecosystem, and thriving community. With established connections and partnerships in both Web3 and Web2 spaces, including incubators and entrepreneurial programs, Eclipse Fi serves as a gateway for Web2 companies seeking to enter and build in the Web3 landscape.
You can learn more about Eclipse Fi by checking out their whitepaper. More details and insights will be shared across both Impossible and Eclipse Fi channels.
What is a Flash Sale IDO?
Users can participate in an exclusive accelerated experience into projects with our lite version of the standard IDO sale. This flash sale is NOT a discounted sale, instead it's designed for users' to access high-quality IDOs through a shorter IDO period.
Valid from now until the next month.
Subscription Timeline:
The staking calculations will be reset and start on 20/12/2023 at 07:00 AM (UTC).
Token Sale Details:
IDIA on Arbitrum
IDIA is a native token on BNB chain, therefore, IDIA is available in other chains using bridging solutions.
There are 3 options to obtain IDIA on Arbitrum
Options 1: For users with IDIA:
The current live token on Arbitrum is IDIA bridged using Wormhole bridge. Users need to exchange their Wormhole-bridged IDIA for Layerzero-bridged IDIA.
This exchange can be done at IF swap, trading tokens 1 to 1 without any fee. Check how to do this below:
How to migrate your Arbitrum IDIA using IF Swap?
Step 1: Go to our Swap through this link
Step 2: Select IDIA AnySwap/Wormhole (depending on the ones you have on your wallet)
Step 3: Select IDIA Stargate
Step 4: Make sure your Wallet is connected and you have selected Arbitrum Chain
Step 5: Swap your existing IDIA into the new IDIA (approximately 1:1 ratio)
How to migrate your non-Arbitrum IDIA to Arbitrum IDIA using Stargate?
Step 1: Go to Stargate Transfer
Step 2: Connect your wallet
Step 3: From: Select IDIA and the respective Network it is currently on
Step 4: To: Select IDIA and Arbitrum as the Network
Step 5: Enter the amount
Step 6: Transfer
Option 2: For users without IDIA:
If you would like to buy IDIA on Arbitrum, you can do so by purchasing it through Impossible Swap. You can follow the below steps:
Step 1: Go onto Impossible Swap & connect your wallet using the Arbitrum network
Step 2: Select your tokens and make sure you select “IDIA (Stargate)”
Tips
- We created two pairs: IDIA/USDC or IDIA/ETH. Feel free to swap either.
- “IDIA (Stargate)” is the new IDIA on Arbitrum.
Option 3: For users with vIDIA:
Impossible has decided to remove the vIDIA Priority Unvesting fee from 20% to 0%. This means you can unvest your vIDIA immediately without the 20% fee and then bridge it over to IDIA (Stargate) on Arbitrum. This is valid from now until the next month.
Follow these steps to unvest your vIDIA:
Step 1: Go to Vesting on Impossible Finance
Step 2: Connect your wallet
Step 3: Toggle to "Unvest"
Step 4: Select the amount you would like to unvest
Step 5: Click "Unvest"
Step 6: Read the terms and check the notice box, "I understand"
Step 7: Click "Confirm"
Launchpad Pools (Sale cards)
Launchpad Staking Pools (Sale cards)
For Eclipse Fi ECLIP IDO, we will be having 3 sale cards to cater to different users:
- IDIA Standard Sale: Stake limit - Users can stake a maximum of 10,000 IDIA tokens at any one time as consideration for allocation. The maximum ECLIP a user is able to purchase is capped at the user’s allocation, which is calculated after the staking period.
- IDIA Standard Sale (Mini): Stake limit - Users can stake a maximum of 10,000 IDIA tokens at any one time as consideration for allocation. This works exactly like the Standard sale but with a smaller allocation pool. The maximum ECLIP a user is able to purchase is capped at the user’s allocation, which is calculated after the staking period.
- IDIA Unlimited Sale: No stake limit - Users can stake any amount of IDIA at any time as consideration for allocation. The maximum ECLIP 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 upcoming KOL whitelist marketing campaigns and complete community-oriented tasks to stand a chance of winning guaranteed ECLIP allocation. Stay tuned to the Impossible Finance social media channels and for more details!
Impossible Finance Buy-back Protection Program
At Impossible Finance, we want to set the tone for what Launchpads should be. We prioritize our community, first and foremost, and aim to find the best crypto opportunities for you and at the same time try to protect you against risks.
Users who stake into the Launchpad Pools can access the downside protection when participating in Impossible IDO #21. Eclipse Fi is confident in their abilities to grow the project and has pledged to Buy-Back your ECLIP tokens at a price of US$0.075 (100% protection) covering 1 week after TGE. This means that you can opt-in to sell back the amount of ECLIP tokens purchased during the public sale, thus limiting potential downside price risk of ECLIP during the ‘Opt-in Time Window’ 22/12/2023 - 29/12/2023. The execution of the refund will happen during the ‘Refund Time Window’ for those users that chose to opt-in. Key details below.
Mechanism: How can you access the program?
Buy-back #1 — Unlocked Tokens
To participate in the buy-back #1 for unlocked ECLIP tokens, users MUST opt-in on the Claim page on the Impossible Finance platform. Then, during the Buy-back Period (aka “Refund Window”), users are able to complete the process via OpenSwap’s feature called “Buy-back Queue”.
The feature is audited by CerTik, and transparent on-chain for users to see the buy-back protection. You can read more about the mechanism here.
Buy-back #2 — Locked Tokens
To participate in the buy-back #2 for locked ECLIP tokens, users MUST opt-in on the Claim page on the Impossible Finance platform. Once doing so, eligible wallets will receive their tokens during the "Buy-back Period (aka “Refund Window”)" 5/01/2024 - 12/01/2024
Users will only be able to opt-in for the buy-back during the period of 22/12/2023 - 29/12/2023. Once the buy-back opt-in period ends, users will no longer be able to swap their locked ECLIP tokens for stablecoins and must see their ECLIP tokens to maturity.
Buyback Eligibility Terms and Conditions
Users who are eligible for the buy-back program consist of “eligible users” who are users whose wallet addresses participated in the Token Sale. Under the Program, eligible users can only sell back the tokens, which were bought during the Token Sale and held at the same wallet address used in the Token Sale (“Sale Wallet”) until the Buy-Back Valid Time.
To clarify, users who are NOT eligible for the buy-back program consist of:
- Users who transferred their tokens to any Centralized Exchange (“CEX”) or Decentralized Exchange (“DEX”)
- Users who have transferred their tokens out of the Sale Wallet
Unless otherwise provided by the scenarios above, the tokens that have been sold or transferred out of the Sale Wallet are not eligible for buy-back under the Program. For example, if $100 of tokens were bought in the Token Sale and only $40 were held until the Program starts, only $40 can be sold back in the Program (assuming the tokens are fully unlocked).
Impossible Finance and the project team reserve the right to modify the eligibility conditions before the buy-back valid time period, and will notify the community if so modified. Eligible users may contact the Impossible Finance team if they believe there is any error in the number of tokens they could sell back under the Program.
Note that OpenSwap may charge users a small fee to complete the buy-back process.
Helpful Guides
Token Allocation Calculation
The token sale for ECLIP will follow the standard Impossible Launchpad staking subscription format whereby users’ stakeWeight is calculated based on the proportional amount of IDIA and vIDIA they stake and the duration they stake relative to the total amount and staking duration of the entire pool, with users’ staked IDIA and vIDIA balances recorded at the start of the staking period.
This design is currently selected to ensure that all users can have a proportionate access into the ECLIP token depending on which pool they enter. 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. Users are required to hold at least 25 IF or 15 IDIA to start KYC. 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 Eclipse Fi
Eclipse Fi is a revolutionary hub for interchain token launches, bringing the value back into the hands of early communities.
Website | Twitter | Discord | Telegram | Medium
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.
Website | Twitter | Discord | Telegram | Blog
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.
