IF and IDIA Token Communities to Merge

Background: The IF token originally migrated in March 2021 from the STAX token, which was a fair-launched token. Upon the migration back then, the IF Token was imported into the Impossible Finance ecosystem and with market conditions over the last two years, it was not able to drive sufficient value to stand alone. Impossible Finance deployed two versions of the swap, supported the swap with engineering resources, audits, and additional security measures, but the volume on BNB Chain deployments of the swap did not meet expectations. In June 2021, Impossible Finance successfully fundraised for the IDIA token, which focused on the value and access around the launchpad. In the bull market, the launchpad found much more traction than the swap did, and is the one that is the heart of the current community today.

Proposal: With the Impossible Launchpad being the core of Impossible Finance, it is proposed that the IF token community be merged with the IDIA token community under a transition program. The token conversion will be utilising the conversion rate as follows:

• Users who never used launchpad: 1 IF = 0.7 IDIA
• Users who used launchpad 1 time: 1 IF = 1 IDIA
• Users who used launchpad 2 to 10 times 1 IF = 1.15 IDIA
• Users who used launchpad 10+ Times (super users) 1 IF = 1.3 IDIA

The conversion rates are meant to recognize launchpad users who have been supporting and contributing to the success of projects incubated by Impossible Finance.

Execution: A snapshot has already been taken as of November 15 2023 for the amount that can be migrated over for individual users.

Please refer to this article published by Impossible Finance for further details of the proposal: https://blog.impossible.finance/if-and-idia-token-communities-to-merge

This migration shall be conducted using Openswap’s buyback platform and users will be able to get their ratios of conversion directly within the Openswap buyback queues product, similar to how Impossible conducts its normal buyback protection programs. Users who are due to receive less than 10 IDIA will have their tokens airdropped directly into their wallets to help users save on gas fees.

The conversion will begin tentatively on November 27, 2023 and users will have 4 months to convert their IF tokens. Impossible reserves the rights to refuse conversion for users who fail to migrate within the 4-month period, so please make sure to migrate within the available time.

The community is invited to ratify the proposal as a decision of the Impossible Finance ecosystem.