The Impossible Finance, a multi-chain incubator, launchpad, and swap platform that offers a robust product-first ecosystem which supports top-tier blockchain projects to targeted user audiences, has announced the launch of its new extension called vIDIA to its Impossible ecosystem in a blog post published on Thursday, June 13th.
What is vIDIA All About
Similar to Impossible Finance’s previous launch, IDIA, vIDIA is all about providing users with a “valuable and meaningful experience.” vIDIA is a secure extension as it has been “been audited by BlockSec to ensure security for all users to have peace of mind.”
The new extension vIDIA also comes with some exciting roles such as “Improving the stability of IDIA before, during, and after staking periods, Increasing available token types for staking,” and “Motivating IDIA holders and IDIA liquidity providers.”
According to the blogpost shared by Impossible Finance, “The biggest difference between IDIA and vIDIA is the role they play in the Impossible Ecosystem.”
How vIDIA Works
According to Impossible Finance, there are four scenarios on how vIDIA works, they are:
Vesting IDIA
This is pretty simple. Just as it is named, it is about vesting IDIA tokens and receiving vIDIA right away. Once you have vested your IDIA tokens, they are converted on a 1:1 ratio to vIDIA. “After that, you can easily use vIDIA to stake and participate in IDOs” in The Impossible Finance ecosystem as usual.
Unvesting IDIA
Unvesting tokens like IDIA tokens is pretty straightforward, “all you have to do is submit a request and wait two weeks.” After submitting a withdrawal request or unvesting request, “your IDIA tokens, which are converted on a 1:1 ratio, will be sent to your wallet.” With no fees charged at all.
Priority Unvesting
The fact that priority unvesting is created as a result of how vIDIA operates is a nifty feature. That is to say, if you would like to receive your IDIA tokens immediately after requesting for withdrawal, you can simply submit a priority unvesting request or withdrawal request, and only a “fee will be deducted from your unvesting amount before the IDIA is sent to your wallet.” In other words, if you would like to receive your IDIA tokens immediately after requesting for withdrawal, you can simply submit a priority unvesting request or withdrawal request.
Claim Reward
vIDIA also allows users to enjoy rewards when holding vIDIA for the long run. “Fees collected from priority unvesting requests are distributed to vIDIA holders. Users can collect their available rewards anytime as long as they hold vIDIA.”
About Impossible Finance
Impossible Finance is the crypto investment platform that allows its users with high-quality, fair, and accessible crypto opportunities. Impossible Finance breaks down decentralized finance (DeFI), so anyone in the crypto space can enjoy fairer investing, cheaper trading, and better yields through Impossible Finance’s accelerator, launchpad, and swap platform.
Key Takeaways
- vIDIA is like the new extension for the Impossible Finance token, IDIA.
- Impossible Finance launchpad is currently available on cryptocurrency exchanges such as MEXC, CoinTiger, Hoo, Poloniex, PancakeSwap (V2), and ZT.
- Impossible Finance IDIA token can be staked into different sector categories like NFTs, Dexes, etc., to get access to allocation into future launchpads in the Impossible Finance ecosystem.
