Impossible is excited to announce that our Movement x GameFi project will be Genopets ($GENE).
To learn more about Genopets, check out our very own IDO #6 — Genopets Research Report and their Medium announcements. More details, insights and whitelist activities will be shared over the next few weeks across both Impossible and Genopets’s channels.
- KYC Preparation Period: Rolling ongoing basis. Users can submit their information and pass KYC anytime during the entire IDO timeline. Only users that have completed KYC & are from accepted countries will be able to participate in this sale.
- Staking Period: 2021/10/31 5:00 AM (UTC) Block  to Block  estimated to be ~2021/11/16 5:00 AM (UTC). After completing KYC, stake IDIA into Impossible’s Launchpad staking contract which will record user’s staked IDIA balances. User’s IDIA balance will be captured onchain, and allocation is calculated based on the amount staked and the length of time staked relative to all participating users.
- Purchase Period: Block  to Block  estimated to be 2021/11/16 10:00 AM (UTC) to 2021/11/17 10:00 AM (UTC). Subscription will open at this time for all eligible users for approximately 24 hours depending on BSC block times. Users may elect to purchase any amount of GENE up to the allocation derived from the staking period.
- *Claiming Period: 2021/11/18 TBC (UTC). Timing and details to be confirmed by Genopets closer to the time. Users will be able to claim their GENE tokens on the Impossible Launchpad.
*Due to variability in block times across multiple chains, exact details on the Claiming Period are subject to change prior to distribution in order to synchronize with other parallel launches.
Genopets Token Sale Details:
- Token Ticker: $GENE
- Launchpad Sale Hard Cap: 360,000 USD (split into multiple pools)*
- Standard pool: 180,000 USD
- Unlimited pool: 180,000 USD
- Whitelist allocation: 40,000 USD
- Total Token Supply: 100,000,000 GENE
- Day 1 Circulating Market Cap: TBC
- Tokens Allocated to Impossible Launchpad: 500,000 GENE (0.5% of Total Token Supply)
- Public Sale Token Price: 1 GENE = 0.8 BUSD
- Listing Price: TBC
- Token Sale Format: Staking Subscription
- Sector: Impossible Finance GameFi Track
- Supported Staking Tracks: IDIA staking only
- Learn more via GENE medium/whitepaper — here
- KYC requirements: The sale of tokens is not available to U.S. Persons (as defined by Regulation S under the Securities Act of 1933), Mainland China or to persons located in a sanctioned country as provided by OFAC.
Launchpad Pools (Sale cards)
For Genopets (GENE) IDO, we will be having the following sale cards to cater to different users:
- Standard Sale: Stake limit — Users can stake a maximum of 10,000 IDIA tokens at any one time as consideration for allocation. The maximum GENE a user is able to purchase is capped at the user’s allocation which is calculated after the staking period
- Unlimited Sale: No stake limit — Users can stake any amount of IDIA at any time as consideration for allocation. The maximum GENE 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 of winning guaranteed GENE 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 GENE IDO, you can purchase it via the below venues:
- Impossible Swap (Swap Guide)
- OpenSwap (Optimal way to find the best on-chain swap options)
Token Allocation Calculation
- The token sale for GENE 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 GENE 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 Preparation Period: Rolling ongoing basis. We require 100 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
Genopets is a Free-to-Play, Move-to-Earn NFT game on Solana that makes it fun and profitable to live an active lifestyle. Genopets combines user’s step data from their mobile device and wearables with blockchain Play-to-Earn economics so players can earn crypto for taking action in real life as they explore the Genoverse evolving and battling their Genopet.
About Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform led by Ex-Binance & DeFi veterans. It offers a robust product-first ecosystem that supports top-tier blockchain projects to targeted user audiences. With extensive support from key leaders in the crypto industry, Impossible Finance simplifies DeFi for users to enjoy fairer investing, cheaper trading and better yields.
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 reasons without prior notice.
- Users need to complete their KYC and also be from an eligible jurisdiction to participate in this token sale.
- 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 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 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 a best attempt to make each event happen at the said planned schedule, 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.