Imptroduction

ImpDAO's Documentation at a glance

What is ImpDAO?

ImpDAO is a decentralized investment protocol with reserve currency characteristics available on the Fantom Network based on the IMP token. Each IMP token is backed by a basket of assets (e.g., DAI, IMP-FTM-DAI-MIM LP (70% / 10% / 10% / 10%) tokens, gOHM, etc.) in the ImpDAO treasury, giving it an intrinsic value that it cannot fall below.

What is the point of ImpDAO?

The goal is to build a policy-controlled decentralized investment protocol leveraging on the reserve currency characteristics introduced by OlympusDAO, native on the FTM network, with the IMP token being the central piece! Different to most other fractional reserve currencies, ImpDAO aims to provide both: sound monetary policy as well as active utilisation of treasury funds to generate returns for all IMP stakeholders. In the long term, this system can be used to optimize for consistent returns so that IMP can function similar to a share in a traditional investment fund providing price appreciation as well as potentially dividends. In the short term, ImpDAO intends to optimize the system for treasury growth while minimising volatility.

ImpDAO intends to achieve steady price appreciation by leveraging investment opportunities throughout different blockchains and without the use of fiat currency, in order to allow the cryptocurrency industry to detach even more from the traditional finance world!

How do I participate in ImpDAO?

There are two main strategies for market participants: staking and bonding. Stakers stake their IMP tokens in return for more IMP tokens, while bonders provide specified non-IMP tokens in exchange for discounted IMP tokens after a fixed vesting period.

How can I benefit from ImpDAO?

The main benefit for stakers comes from supply growth. The protocol mints new IMP tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is if the increase in token balance outpaces the potential drop in price (due to inflation).

The main benefit for bonders comes from price consistency. Bonders commit capital upfront and are promised a fixed return at a set point in time; that return is given in IMP tokens and thus the bonder's profit would depend on IMP price when the minted IMP matures. Taking this into consideration, bonders benefit from a rising or static price for the IMP token!

Who created ImpDAO?

ImpDAO is a fork of Olympus on the Fantom Network. Our team is mostly anonymous, born from the DeFi and TradFi community. Upon launch and during the transition towards becoming a Decentralized Autonomous Organization, the project is steered by BossImp and J0M4N.

BossImp has been deploying capital in the OHM meta with an activist investor mindset since 2020. Having studied Engineering and worked over 10 years in the fintech and investment banking space primarily structuring different interest rate and debt derivatives. He is CFA charterholder. He quit his TradFi career in 2021 to fully commit to and prepare ImpDAO.

Prior to ImpDAO, J0M4N primarily invested in the OHM meta with a value investor mindset and a smart beta strategy. Having finished his Economics and Finance degrees at highly ranked European universities, he has since then primarily worked in front-office roles within IBD tech coverage team of a Top 3 bank. Since his studies, J0M4N has been highly interested in game theory as well as macroeconomics developing different ventures and products to solve problems in the space.

Who runs ImpDAO?

In the long-run ImpDAO is aiming to become a fully Decentralized Autonomous Organization. However, we recognised that a more centralised leadership during the initial startup phase as well as while setting up the Policy and Impvestment Committee is value accretive for all stakeholders.