We are glad to finally announce the date of launch of our new token, IBEX, which will substitute in every function the old IMX.
IBEX will be claimable on Polygon and tradable on Quickswap starting from Friday, September 30th at 12pm UTC.
The IBEX contract addresses are the following:
Ethereum: 0xF655C8567E0f213e6C634CD2A68d992152161dC6 Polygon: 0xf972DACEd7C6b03223710C11413036D17eB298f6
A new beginning
The launch of IBEX is marking the beginning of a new era for Impermax. Almost 2 years have passed since the early stages of this venture, and many milestones were accomplished. From the successful launch of an innovative DeFi protocol to the creation of the Impermax community, until the latest IMX incident.
The IBEX token swap will bring a breath of fresh air to the project. With this token we’re going through a partial rebranding which embraces the Ibex meme initially born in our Discord community. IBEX is meant to be the token which will decentralize Impermax and will give its ownership back to its users. Meanwhile, the project name will remain Impermax and the long term vision will remain aligned with our original vision.
How to claim your tokens
How to claim the IBEX airdrop
Open the Impermax app on Polygon and make sure to clear the browser cache in order to use the latest version. If you’re eligible to claim an airdrop you will see the claim airdrop button in the top bar. Click on it and follow the instructions to claim your tokens. For more info on the airdrop methodology check our previous article.
How to claim ETH airdrop
Open the Impermax app on Polygon and make sure to clear the browser cache in order to use the latest version. If you’re eligible to claim an airdrop you will see the claim airdrop button in the top bar. Click on it and follow the instructions to claim your tokens. For more info on the airdrop methodology check our previous article.
How to claim your vested IBEX
Follow the same steps that you used to claim your vested IMX. Go to the claim page of the app on the Ethereum network.
IBEX tokenomics
IBEX has many things in common with IMX. It will still be the governance token that will control the Impermax DAO which has the ownership of the Impermax protocol. However there are some changes which will be applied in the short term, and more which will follow up in the future.
Safety module
Staking as it was known for IMX will be substituted by the safety module. Token holders will be able to deposit their IBEX in the safety module in order to earn a staking reward. The safety module will work like an insurance fund for Impermax. The DAO will be able to vote to insure certain low risk pairs through the safety module. Note that by default all Impermax’s pairs will not be insured unless the DAO has voted specifically to insure that pair. In case of bad debt in an insured pair, the tokens in the safety module will be slashed (up to a maximum amount) and used to repay the bad debt. We expect the safety module to be released in the upcoming quarters.
Supply updates
The initial total supply of IBEX has been reduced to 87,250,000 by burning all the unclaimed airdrop. Additionally, in the new token contract we have introduced the possibility to activate a 2% inflation rate after the initial 4-years emission schedule has ended. The DAO will be free to set the inflation rate anywhere in the range 0%-2%. The DAO will also be free to decide how these tokens will be utilized.
A new long term plan
While the token name change seems to be the only differentiation factor to what previously Impermax was, it actually is the foundation for a second phase of our venture. We have established new guidelines to focus on large-scale, non-tech users adoption. Our aim is to become a self-sufficient DAO over time. To offer simple, secure and high yield products to our users. We will continue to innovate, integrate groundbreaking features and evolve our value proposition to fit market needs. We are aware of the multiple months needed to achieve this vision, but one foot in front of the other and then one day we’ll look back at the mountain we’ve climbed.
Our new journey is not without challenges. Starting in the midst of a bear market, with capital and resources constraints, we have several key upgrades to implement in order to improve the protocol value proposition. In the short term, a complete website and UI rebranding including the introduction of a lite version is mandatory to prepare for the mass adoption. We will craft a multi-level strategy to widen our addressable market. In this regard, the addition of our new business manager is very welcomed. Is it without mentioning that the team will expand furthermore as we move on.
One of our big advantages when it comes to the DeFi ecosystem is the commitment and level of interest from our community. We were surprised to acknowledge such support in these hard recent months. We want to thank you for your dedication, loyalty and we sincerely hope you will stay among the IBEXs crowd for the long run.
We cannot stress enough the fact that we are aware of the importance of community involvement. Consequently, every member who wants to directly or indirectly get part of the process in a constructive way is and will always be welcomed.
Like IBEXs, we shall evolve in herd, use the landscape to our advantage and constantly reassess our strategy in order to thrive in our environment.
It will take years to climb this mountain. Everything looks better with a view.
Best regards,
The Impermax team
Website: https://www.impermax.finance/ Discord https://discord.com/invite/XN739EgG4X Telegram: https://t.me/ImpermaxFinance Twitter: https://twitter.com/ImpermaxFinance Medium: https://impermax.medium.com/
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