Impossible Finance Names OpenSwap as First Project for Launchpad

18 August 2021

Impossible Finance, the decentralized finance (DeFi) incubator that raised $7 million in June, named OpenSwap as the first project to feature on its DeFi launchpad.

  • OpenSwap provides DeFi traders with a single location for accessing liquidity pools from multiple blockchains.
  • Calvin Chu, Impossible Finance's core builder, described the platform as a "godsend" thanks to its aggregation facilities.
  • Impossible Finance's seed funding round in June was led by institutional investors including CMS Holdings and Alameda Research.
  • The protocol launched on Binance Smart Chain in May with the goals of building a network for staking, token swaps and access to liquidity pools as well as becoming an incubator for other projects.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.