Impossible Finance (IF), a DeFi platform that creates inclusive financial instruments, has raised over $7 million from over 125 institutional and angel investors. IF is a recently launched project building a comprehensive DeFi incubator, launchpad, and swap platform.
IF leverages DeFi protocols to democratize access to financial products. Products that were previously only available to institutions and accredited investors are accessible to everyone.
IF To Provide A Decentralized Incubator And Launchpad
IF is building a multi-chain ecosystem aimed to promote the growth of DeFi liquidity and composability. The platform has set itself up on Binance Smart Chain (BSC) and has plans to support Ethereum and Polygon.
Further deployments have been scheduled on future L2 solutions and other platforms. IF will offer an AMM liquidity protocol. This will act as a backbone of the ecosystem that provides a fully decentralized incubator and launchpad for new projects in DeFi.
The funding round was co-led by True Ventures, CMS Holdings, Alameda Research, and Hashed, and joined by Sino Global Capital, IOSG, Divergence, GBV, mgnr.io, Lemniscap, Primitive, Incuba Alpha, BR Capital, Coin98, The LAO, Maple Leaf Capital and others.
The project was supported by angel investors as well. They included Sandeep Naiwal (Matic), Kain Warwick & Jordan Momtazi (Synthetix), Bette Chen & Ruitao Su (Acala), Bobby Ong & TM Lee (Coingecko), Larry Cermak (The Block), Calvin Liu (Compound), and others.
A Backbone For New Projects
IF will offer support and assistance for prospective crypto builders through the incubator. This project has been launched by Defi veterans and avid hackathon participants, one of them being Calvin Chu, formerly of Binance Research.
Chu has previous experience in leading Binance Staking across 30 blockchains. He has also supported project diligence for Binance Launchpad, setting the tone for IF’s project that aims to help projects launch. Incubated projects will also leverage IF’s liquidity and cross-chain support, ensuring a successful launch on the market.
Supporting The Next Generation DeFi Projects
CMS Intern (@CMSIntern) from CMS Holdings supports IF’s mission of being an accelerator in the DeFi ecosystem. They stated,
“Creating a YCombinator-esque platform for teams building in decentralized Finance will help take the ideas of developers and materialize them into working products. We see them as an obvious leader in this space and think they will ultimately turn the potential of DeFi applications into reality.”
Chu, currently a Builder at IF, claims that the entire IF community is excited to bring together such a diverse army of investors, builders, and strategic DeFi and trading-focused funds to create the next generation of blockchain projects. He further adds,
“Even the ‘livepaper’ garnered over 400 edits from the top builders and investors in this space, and the Impossible community can’t wait to provide the same type of support to the projects that launch through the Impossible incubator.”
About Impossible Finance
Impossible Finance, previously the StableX.Finance project is a multi-chain incubator, launchpad, and swap platform. It is built by DeFi veterans from Binance and other top fintech firms. IF offers a product-first ecosystem, supporting and launching blockchain projects to targeted user audiences, ensuring their successful launch.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.