Updates to Brickken Buy-back Protection Program

At Impossible, our unwavering commitment to delivering the highest quality projects is matched only by our dedication to safeguarding your interests, which is what started the Impossible Buy-back Protection Program.

We are happy to announce that the Brickken buy-back program will commence from 31/10/2023 4:00 PM UTC to 7/11/2023 4:00 PM UTC, covering both unlocked and locked BKN tokens. We apologise for the delay in the program due to the intricacies of implementing a program with a vesting token schedule, and our desire to ensure flawless technical and back-end mechanisms.

Furthermore, we have an exciting opportunity to present to you, the BKN Bonus Top-Up, for those who opt to retain their BKN tokens until the conclusion of the token vesting period.

What is the BKN Bonus Top-Up about?

The BKN Bonus Top-Up is an Impossible initiative that provides further upside for investors that believe in Brickken long-term, allowing real supporters of the project to reasonably see their investment through the end of the token vesting period.

It has always been our belief at Impossible that users are given fair opportunities to make their own investment decisions. That is why in addition to the option to the Brickken buy-back program, we are implementing this initiative to empower users who wish to  hold on to their positions and be in a fair stance against new market entrants.

Here’s how it works:

The Bonus Top-Up will only be available for users who choose not to exercise the Buy-back option on their BKN tokens. These users will receive an additional amount of BKN tokens within one week after  the end of the vesting period on 20/06/2024.

Unlocked Tokens

For every unlocked BKN token that users do not exercise in the buy-back program, they will receive an additional 0.44X BKN tokens at the end of the vesting period

• These bonus BKN tokens will be airdropped to users after IDO vesting period
• Example:
• User A currently has 1000 BKN unlocked tokens and chooses not to participate in the buy-back program
• At the end of the IDO vesting period, User A will receive an additional 440 BKN tokens

Locked Tokens

• For every locked BKN token that users do not exercise in the buy-back program, they will receive an additional 1.27X BKN tokens at the end of the vesting period
• These bonus BKN tokens will be airdropped to users after IDO vesting
• Example:
• User B currently has 1000 BKN locked tokens and chooses not to participate in the buy-back program
• At the end of the IDO vesting period, User B will receive an additional 1270 BKN tokens

Buy-back Protection Program

Alternatively, users may opt to take up the buy-back protection program and access downside protection against fluctuations in the BKN token price.

The buy-back program will run from 31/10/2023 4:00 PM UTC to 7/11/2023 4:00 PM UTC.

Unlocked Tokens

• Brickken has pledged, on-chain, to buy-back your unlocked BKN tokens at a price of US$0.09, or approximately 30% from the Token Sale price, subject to the conditions below.
• Users can exercise their buy-back by trading their unlocked tokens on OpenSwap at the buy-back price of US$0.09.
• If users exercise their buy-back, they will not be eligible for the Bonus Top-Up

Locked Tokens

• Users who exercise their buy-back  can also forfeit their claim on the remaining locked BKN tokens and get airdropped an equivalent amount of stablecoins based on the buy-back price of US$0.075. This may result in a loss depending on the market price (e.g. net loss at market price of 0.086 USD on 31/10/2023)
• Users will receive the stablecoin airdrop within one week after the buy-back period ends.
• If users exercise their Buy-back, they will not be eligible for the BKN Bonus Top-Up
• To participate in the buy-back for locked BKN tokens, users MUST opt-in on the Impossible Finance platform by selecting the Sale Card, selecting “Exercise Buyback #2” and submitting the "Exercise Buyback" button in the pop-up window.

• Once doing so, eligible wallets will receive the stablecoin airdrop within one week after the buy-back period ends.
• Users will only be able to opt-in for the buy-back during the period of 31/10/2023 4:00 PM UTC to 7/11/2023 4:00 PM UTC. Once the buy-back period ends, users will no longer be able to swap their locked BKN tokens for stablecoins and must see their BKN tokens to maturity.

Who is eligible to participate in the Program?

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:

1. Users who transferred their tokens to any Centralized Exchange (“CEX”) or Decentralized Exchange (“DEX”)
2. 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.

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.

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