We are excited to reveal that our 7th Impossible IDO project will be Ouro!
Following our B2D (Business-to-Developer) approach in finding early stage, high potential projects, we have decided to support Ouro earlier in its launch process. The staking period has been extended to accommodate the preparation required for their launch and to cater for the December holiday season. Impossible is committed to creating unprecedented access into early staged defi protocols, and we believe that Ouro is an intriguing opportunity to build a truly decentralized stablecoin together with the Impossible community.
To learn more about Ouro, check out their Medium. More details, insights and whitelist activities will be shared over the next few weeks across both Impossible and Ouro’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: 2021/11/16 12:00 PM (UTC) to Block 14059363 estimated to be ~2022/01/03 10:00 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 14064193 to Block 14092646 estimated to be 2022/01/03 02:00 PM (UTC) to 2022/01/04 02:00 PM (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 OGS (Ouro Governance Share) up to the allocation derived from the staking period.
- *Claiming Period: 2022/1/06 12:00 PM (UTC). Finalised timing to be confirmed by Ouro closer to the time once token listing details are set. Users will be able to claim their OGS 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.
Ouro Token Sale Details:
- Token Ticker: $OGS
- Launchpad Sale Hard Cap: 1,250,000 USD (split into multiple pools)
– Standard pool: 500,000 USD (Paid in BUSD)
– Unlimited pool #1: 375,000 USD (Paid in BUSD)
– Unlimited pool #2: 375,000 USD (Paid in IDIA)
- Initial Token Supply: 1,000,000,000 OGS *
- Buy-back Protection Program: 50% downside protection at public sale price
- Day 1 Circulating Market Cap: ~$1.7 Million USD
- Tokens Allocated to Impossible Launchpad: 50,000,000 OGS (5% of Total Token Supply)
- Public Sale Token Price: 1 OGS = 0.025 BUSD
- Listing Price: 0.03 BUSD
- Token Sale Format: Staking Subscription
- Sector: Impossible Finance Infrastructure Track
- Supported Staking Tracks: IDIA staking only
- Learn more via the OGS Whitepaper — here
- KYC requirements: Residents from countries or regions such as US, Mainland China, and UN-sanctioned countries are excluded from participating.
* Supply can increase or decrease with algorithmic changes according to the protocol
Launchpad Pools (Sale cards)
For Ouro($OGS) IDO, we will be having 3 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 $OGS a user is able to purchase is capped at the user’s allocation which is calculated after the staking period.
- Unlimited Sale #1: No stake limit for BUSD purchasers — Users can stake any amount of IDIA at any time as consideration for allocation. The maximum OGS a user is able to purchase is capped at the user’s allocation which is calculated after the staking period. This track will earn users allocation paid for using BUSD.
- Unlimited Sale #2: No stake limit for IDIA purchasers — Users can stake any amount of IDIA at any time as consideration for allocation. The maximum OGS a user is able to purchase is capped at the user’s allocation which is calculated after the staking period. This track will earn users allocation paid for using IDIA. IDIA Price determined based on the average of the previous ~24 hours prior to the start of the purchase period.
- Additional Whitelist Allocation Sales: Users can additionally participate in our upcoming whitelist marketing campaigns and complete community-oriented tasks to stand a chance to win guaranteed OGS 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 OGS 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 OGS 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 OGS 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.
Buy-back Protection Program
- Ouro will pledge, on-chain, to Buy-Back your OGS tokens at a price $0.0125 within 6 months after the token listing, subject to the conditions below.
- This means that you can sell back the amount of OGS tokens purchased during the public sale, thus protected from any potential downside price risk of $OGS.
- More details to be released closer to the claim date.
- 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
Ouro aims to derive fiat inflations manifested in the growth of the value of crypto assets and migrate them onto OURO, making it an inflation-proof store of value. Users can acquire Ouro by depositing crypto assets in a capital-efficient, 1–1 exchange rate.
Ouro utilizes a Capped Rebase mechanism, where the maximum monthly increase in the value of OURO is capped at 3%. A positive rebase is conducted when the Reserve Pool contains excess collateral which will be used to conduct OGS (Ouro Governance Share) token burns, liquidity provision, as well as to form an Insurance Pool.
A negative rebase is conducted when the Reserve Pool contains insufficient collateral for maintaining a 1–1 peg. New OGS tokens will be minted to acquire collateral on secondary markets. Under extreme market conditions, assets in the Insurance Pool would also be utilized to aid this process.
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.
Website | Whitepaper | Medium | Twitter | Telegram | Github | Support | Audit | Video
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.