Impermax is a DeFi lending protocol that uses Uniswap LP tokens to collateralize loans. Lenders supply ETH, USDC, or any tokens for Impermax pairs (any Uniswap pair can be added to Impermax by anyone). Lenders receive 80% of interest payments and borrowing fees.
Borrowers deposit LP tokens as collateral to borrow tokens in that pair. Those borrowed tokens can now be used to invest in other ways such as buying another token or hedging against the position of their liquidity pair on Uniswap.
Borrowed tokens can also be used to provide liquidity on Uniswap to get more LP tokens. Those LP tokens can then be used to borrow even more tokens, creating an opportunity to leverage (up to 10x). Leveraging can all be done in a single transaction on Impermax.
By being a lender, a borrower or leveraging any tokens on Impermax, you will become part of the $IMX airdrop. Tokens will be dropped based on the size of each user’s supply or borrowing position over time prior to launch.
Check out Impermax Finance: