Impahla was a smart contract-based digital asset platform, renowned for its specialization in both Primary Token Sales (including FT and NFT) via auctions and its secondary marketplace capabilities for NFTs. Besides its core functionalities, Impahla offered extended features including DAO governance tools, escrow services, and a unique lending app centered around NFT as collateral.
Mission
In an interview with RDX Works, Jafaroff stated that mission was to usher in a new era of decentralized investment banking, unshackling projects from the confines of traditional finance mechanisms.
This would be achieve by helping start-ups, associations, creators, and distributed ledger technology-related projects raise funds securely in return for various types of fungible and non-fungible tokens. The platform aimed to provide easy access to novice investors, who often find current tools complex to navigate and thus are excluded from such innovative opportunities.
Impahla addressed many fundraising and security inefficiencies present in first-generation decentralized launchpads and traditional finance fundraising platforms. It provided a single platform that catered to end-to-end lifecycle management of both fungible and non-fungible tokens. The platform's algorithms for price discovery, fair access allocation, and aftermarket allocation utilized the latest DLT to create a better experience for all participants.
Platform
Impahla was designed to offer next-generation features that enabled founders, investors, and users to:
Raise funds.
Tokenize companies.
Invest in tokenized companies.
Govern tokenized companies.
Access a liquid secondary market for trading in and out of the portfolio of tokens created on the launchpad.
Enjoy a rich set of functionalities and services to support their investment experience.
Fundraising and NFT Launches
Impahla facilitated the fundraising and asset launching process for crypto-native enterprises and NFT projects, addressing the limitations of traditional fundraising, such as high fees, geographical restrictions, and excessive paperwork. The platform aimed to eliminate these hurdles by leveraging the power of Radix DLT technology, democratizing the capital raise process, and creating synergy between projects and communities in a legally secure environment.
Impahla served as a decentralized NFT launchpad for the Radix ecosystem, offering a secure outlet for creators to launch and sell assets that may not have a market elsewhere. The platform enabled creators to mint and launch various types of NFT products, such as real-life collectibles, videos, car titles, event tickets, and more.
The platform also had a long-term mission of bridging decentralized finance (DeFi) with the real economy by onboarding off-chain enterprises into the crypto economy and assisting them in integrating with decentralized communities. Impahla envisioned itself as a prominent fundraising platform not only for on-chain companies but also for real economy enterprises that wish to tokenize their equity or issue utility tokens and benefit from innovative decentralized governance tools.
Auction Models
Impahla offered multiple auction models, such as Dutch auction and second price auction, to ensure founders achieve fair valuations and targeted fundraising for their ventures and assets.
Asset Types
Impahla helped crypto-native enterprises and NFT creators with the issuance of various asset types, including:
Governance tokens: Allowing Crypto Native Enterprises (CNEs) to issue their governance tokens
Utility tokens: Granting rights related to products or services, such as participation in online games or decision-making within a project
Hybrid tokens: Combining governance and utility functions
NFTs: Any NFT product
DAO Dynamics
Impahla envisioned itself as a Decentralized Autonomous Organization (DAO), a community-led entity with no central authority that is fully autonomous and transparent. Smart contracts lay the foundational rules and execute agreed-upon decisions. Incentive alignment and successful collaboration among all stakeholders and participants are crucial for a successful DAO. Impahla DAO aimed to enable fluid collaboration and provide flexibility for high-quality talent to contribute to the Impahla ecosystem consistently.
To attract and retain high-quality talent who add value to Impahla DAO, the platform had allocated 20% of its tokenomics to "DAO Incentives." These incentives would be distributed among participants based on their impact and contribution to the DAO.
Community Focus
Impahla aimed to build a robust and successful community within the Radix ecosystem, with a shared vision and passion. The platform sought to create a space where people with common interests can come together, learn, and grow around a shared vision.
To achieve this, Impahla had allocated 15% of its tokenomics to Public sales and 15% to airdrop campaigns. Half of the airdrop allocation would go to Impahla NFT holders, while the other half would go to Radix Stakers, promoters of Impahla, active community members, and supporters.
Team
Impahla was conceived as a DAO, projecting a future dominated by community-led operations underpinned by code. The project's inception can be attributed to a synergic partnership formed within the Radix ecosystem in 2021.
The core team members included:
Matt Croq: A veteran developer with a 12-year experience, Croq was integral to Impahla's technical framework.
Eric: With three years in the field, Eric specializes in front-end development and has a notable third place in the Scrypto Challenge.
Jafaroff: As a product development and marketing expert with 13 years of professional experience, Jafaroff played a pivotal role within Impahla.
Rachid: A seasoned finance professional, Rachid specializes in product strategy and business development.
Miro: Originally from the Radix community, Miro's expertise as a mobile app developer bolstered Impahla's aspirations in the mobile domain.
Tokenomics
Impahla tokenomics was designed around two critical elements: DAO dynamics (incentive alignment) and the Community.
Token Allocation
20% - DAO Incentives
15% - Public Sales
15% - Airdrop Campaigns
18% - DAO Reserve
The DAO Reserve, comprising 18% of the token allocation, would be spent only through community voting. These reserve funds were allocated for the ecosystem's future growth, and the community would decide their usage.
The platform had not yet decided on the timeline for private and public sales, as their primary focus was on building the initial version of the product. Allocation among public and private sales may change as Impahla evolved and grew with the community. Any modifications or decisions regarding private or public sales would be made through community consultation and voting.
Choice of Radix
Impahla's decision to build on Radix was multi-faceted:
Full Stack Approach: Radix's from-the-ground-up approach echoed Impahla's zeal for innovation.
Community Alignment: The shared ethos of fostering a genuine and engaged community bound the two platforms.
Coding Language: Radix’s Scrypto language simplified the development process for Impahla.
Radix's Work Ethos: Radix's emphasis on technical accuracy and a product-centric approach resonated with Impahla's own philosophy.
See also
- Caper — on-chain DAO formation, treasury, and exit rights