âLaunchpad FAQ
Frequently Asked Questions regarding our Launchpad
Last updated
Frequently Asked Questions regarding our Launchpad
Last updated
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Our Launchpad is divided into 3 (4 with KYC for first-joiners) Periods:
Staking Period
Purchase Period
Claim Period
Users can KYC anytime, even when there are no IDOs happening. This process requires that you hold at least 25 IF or 50 IDIA in your wallet.
đĄ If you already passed KYC on one wallet, you can use the SAME wallet on any future IDOs without having to pass KYC again.
During Staking Period we will be determining how much Allocation of the Token you are able to buy.
First, you need to stake your IDIA/vIDIA Tokens on the IDO Page. We will then monitor your IDIA or vIDIA Stake balance over the duration of the Staking Period.
The more & longer you stake, the more allocation you get, as explained below in How is allocation calculated? segment.
Once the Staking Period is over, you will be able to purchase your Tokens during, you guessed it, Purchase Period.
This phase will last a limited amount of time, usually 1 day, so that people from different time zones can still purchase.
â ī¸ Please be aware! If you do not purchase your Allocation during the Purchase Period, you automatically forfeit your allocation and will not be able to buy it afterward!
Once the Purchase period has finished, you can claim the tokens and proceed to transfer them to your wallet. The Claim Period has no end, you can Claim your tokens whenever you want.
đĄ Note that some IDOs are Airdropped, in which case there is no need to Claim the tokens. In this case, the tokens will be automatically transferred to your wallet if you have Purchased them during the Purchase Period.
3 components are used in our Allocation Calculation:
User Weight = how much you stake + how long you stake -> The amount increases the value of your weight per minute of staking
Total Weight = Everyoneâs summed Weight value
Sale Amount = How many tokens are we selling
So the whole Formula is:
Allocation = (User Weight / Total Weight) * Sale Amount
So, in other words:
If you stake 1 IDIA - per block (~3 seconds) your User Weight is being increased by 10.
Now, if you stake 2 IDIA - per block your User Weight is being increased by 20.
So, let's say you stake 1 IDIA for 10 blocks + 2 IDIA for 10 blocks, so, at Block 20 your User Weight will be 100 (10 blocks * 10 value) + 200 (10 blocks * 20 value) = 300 User Weight.
So, the more you stake AND the longer you stake the more User Weight you'll have!
As more people start Staking IDIA, the total allocation will be divided by more people which may result in a decrease in your assigned Allocation.
By using our Formula seen above on How is Allocation Calculated, this means that although your User Weight may be increasing with time, the Total Weight (which represents everyone's summed weight value) may be increasing as well, representing a decrease in your Allocation.
No minimum IDIA is required for staking.
However, the allocation is proportional to each user's staking amount, the more time and amount that you stake, the more allocation you get, as explained above.
No, only IDIA Tokens manually staked during the Staking Period will count towards your Allocation.
You only need to stake your IDIA Tokens during the Staking Period.
As long as you manage to pass KYC and stake before the Staking Period ends, your staking is counted & allocation is calculated, even if you only stake 10 min before the Staking Period finishes!
Naturally, as explained above, the longer you stake, the more allocation you get.
The hard cap means the maximum amount of a Token (and equivalent USD amount) allocation each user can receive.
It does NOT mean the maximum amount of Tokens that you can stake.
The maximum allocation per user can change between each project.
Yes, you can unstake your IDIA Token at any stage of the sale, however, if you do so during the Staking Period, your Allocation weight will be affected negatively, as explained above.
To unstake without affecting your allocation, wait for the Staking Period and for the Purchase Period to start.
We have different Launchpad Pools so we can serve different userbase and personalize our service to different users.
Currently, there are 3 types of Launchpad Pools, 2 public and open to everyone & 1 only accessible to Marketing Campaign winners.
In this pool, there is a Staking Limit to ensure everyone gets their share of the pie and that no whale can come and get it all. The exact amount of how much you can stake is decided on each IDO, however, the rule of thumb is for it to be 10,000 IDIA Max Stake per user.
No stake limit â Users can stake any amount of IDIA/vIDIA at any one time as consideration for allocation. There's no Roof, so, you can go ahead and stake as much IDIA as you want, but, beware that others will do the same.
As a marketing campaign whitelist allocation winner, it is possible that in addition to the 2 public sale cards, you will see additional sale cards corresponding to the whitelist campaigns that you participated in and won.
For all other non-winners (i.e. did not participate or participated and did not win), you should only see the Standard Sale and the Unlimited Sale cards.
Yes, besides your guaranteed amount from the Whitelist, you can also stake your IDIA tokens and get more allocation.
Yes, everyone can participate in the Token Sale by staking their IDIA Tokens. Whitelisted users just have the luck of having a guaranteed amount of Tokens already allocated to them.
âąī¸ TLDR âąī¸
Because this is the nature of Blockchain & and there's no way of EXACTLY predicting the start on "Human Time", only through Block Time.
Impossible Finance makes every effort to ensure that the actual time follows the above-planned schedules. However, there is a high chance that there is a discrepancy between these 2 times (Block Time & Human Time) due to the very nature of blockchains.
In smart contracts, each event (e.g. staking) is triggered when a specific block is reached, and with block times entirely dependent on network/infrastructure conditions (some block times can be longer than 30% than the average), it can be challenging to predict the block that corresponds to the exact planned time.
When the event is further out into the future, it becomes even harder to predict the exact block due to the larger number of unpredictable blocks between now and then. An interesting side effect of this is that the nearer we get to the event, the more certain of the event time we become. And so, the Impossible team has a dynamic frontend that updates the estimated time that corresponds to the specific event block.
Again, while the team makes the best attempt to make each event happen at the said planned schedule, the reality is still likely to be different. As such, we make our sub-features like calendar reminders scheduled with a 95% confidence that they are early with 2 disclaimers: (i) there is a small chance that the event happens before the reminder, (ii) we ask that you check the main product page for a more accurate event time closer to the planned time.
Long Answer