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Impermax System

What is the purpose of Impermax.Finance?

Impermax enables Indirect Liquidity Providing. This means liquidity providers can lend funds to other providers who use them to earn AMM yields and then share the returns with the lender. All impermanent loss is carried by the borrower. The Indirect Liquidity Provider is free to yield farm with no impermanent loss risk.

What problems are solved by Impermax?

Some yield farmers (also called AMM Liquidity Providers) are looking for a way to eliminate impermanent loss and still earn yield. Other yield farmers are looking for a way to increase their returns and aren’t as concerned about impermanent loss. Impermax solves both of these problems by allowing risk-averse farmers to lend funds to risk-tolerant farmers.

How does Impermax generate yield for users?

Basic liquidity providers on AMMs (like Uniswap) earn yield from transaction fees and liquidity mining. Impermax allows users to greatly increase or decrease the risk and returns of these yields.

How do I earn with Indirect Liquidity Providing on Impermax?

Indirect Liquidity Providing is much easier than basic liquidity providing. Just deposit any supported token on the app, earn passive returns, and withdraw them at any time. It works similar to staking.

What networks does Impermax operate on?

Currently it is Ethereum only. We plan to add support for Polygon and Binance Smart Chain (BSC) soon.

How does governance work?

An on-chain governance system in the model of Compound’s will be rolled out starting in Q3 2021, and is scheduled to be complete by the end of 2021. IMX holders will be able to vote on proposals, in-app economics, and distribution of reserve funds from within the Impermax app.

Has the code been audited?

Yes, multiple third party audits have been completed with no major security issues found. Certik performed a code audit available here. CyberUnit performed a code audit available here.

IMX Token

What is the supply of IMX?

There is a max supply of 100m tokens. A detailed explanation of tokenomics and release schedules are here.

Where can I buy IMX?

IMX is currently only available on Uniswap V2, and can be purchased with ETH.

How does Impermax generate value for IMX token holders?

Up to 20% of each interest payment is sent to the reserve account to be distributed as profits and/or growth development funds, according to the on-chain governance.

What is the purpose of the IMX token?

IMX is a governance token that controls all the reserve income generated by the Impermax lending markets across all supported networks. Holders will have the ability to receive this passive income, as well as governing the future of the project.

How do I earn the IMX liquidity mining reward on Impermax?

Impermax is distributing 40% of total supply to borrowers over the first 4 years of operation. In order to earn this reward you can borrow or leverage funds on supported pairs. You can also supply IMX to the IMX/ETH pair to earn IMX indirectly. You can currently farm IMX with 9 new pairs and 9 new tokens including many of the biggest tokens in DeFi: LINK/ETH, MATIC/ETH, AAVE/ETH, COMP/ETH, CEL/ETH, SNX/ETH, YFI/ETH, CRV/ETH, ETH-2x-FLI/ETH. You can read more about the list of supported pairs for liquidity mining here.

Using The App

Is there a lockup period for withdrawing funds from Impermax?

No. You can withdraw and deposit funds from Impermax at any time.

Which wallets are supported?

Currently MetaMask.


How can I avoid Liquidation?

You can reduce the risk of liquidation in several ways. Choosing token pairs with low volatility relative to each other reduces risk. Choosing lower leverage and therefore a wider liquidation window reduces risk. If you check back and see that your position is getting closer to liquidation you can reduce leverage or deleverage completely any time you want.

What is Liquidation and how is it triggered?

When you take a leveraged position you choose a price movement window for the LP token pair you are leveraging. The higher the leverage you choose, the smaller the price movement window. If the relative prices of the tokens in the pair move higher or lower than the window, your leveraged LP tokens will be sold and the loan automatically repaid. If this happens, you don’t lose your entire balance. You will only lose 4% of the borrowed amount. More details are here.

Yield Leverage

What is Leverage?

Leverage is when you borrow funds and use them to increase the size of your token holdings. You can earn increased rewards on this higher amount, then later pay back the loan and keep the rewards. If you use $1,000 as collateral to borrow $4,000 we call that x5 leverage because your position went from $1,000 to $5,000.

What are the risks of Yield Leverage?

Too much impermanent loss can mean your leveraged position gets liquidated. Liquidation is only possible with leveraged positions and borrowing, not Indirect Liquidity Providing. If the relative prices of the tokens in a LP token pair diverge too much, the system automatically sells the LP tokens and repays the lender. As with all DeFi, there are also contract risks, although Impermax has taken steps to reduce these.

How do I earn with Yield Leverage on Impermax?

Yield leverage is for users who want to multiply their returns. First, provide liquidity on Uniswap V2 or any other supported AMM and acquire some LP tokens. Then deposit the LP tokens on Impermax. Then choose the amount of leverage you want. This lets you borrow funds to increase your position (and therefore earnings) by many multiples in most cases.

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