Token Sale

Impak Token Sale: A tokenized bank dedicated to growing socially impactful businesses

Project Description

Impak ultimately aims to launch a regional retail bank in Canada that will use fractional reserve banking to invest exclusively in the impact economy–business ventures that produce positive social outcomes as well as profits. The Impak ecosystem of member businesses and users will be able to use Impak coin as a payment method. The Impak coin will be a non-tradable, price controlled crypto token backed up by fractional reserves. At the outset, the value of the token will be backed by fiat reserves worth 45 percent of the total network value.  

The Impak team plans on opening up the bank in 2018. In the meantime, they are working to develop the technology and resources they need to make it success:

  • New risk assessment methodologies: Current risk assessment algorithms are ill suited for application to the impact economy. The Impak team, who have years of experience in traditional finance and risk management, are developing methodologies that are tailored to their investment strategy.
  • Impak investment fund: Currently only open to institutional investors, but they plan on releasing a retail product in December, 2017.
  • Personal finance management tools: This will take the form of a mobile app and will feature crypto-token integration.
  • A Digital social media platform: The platform will serve to connect investors, risk managers, entrepreneurs, and customers.
  • A payment gateway for member businesses: Businesses operating in the impact economy (co-ops, B-corps etc.) will be able to register as an Impak business to connect to Impak customers.

 

What is the Impak Coin?

The Impak coin will serve as a payment channel for businesses connected to the Impak network. Token holders will be able to spend their tokens at any businesses that are part of the member network. The Impak coin is envisioned as payment method and not a speculative investment, so it will not be tradable on any exchanges. The price of the Impak coin will be set by the Impak foundation, and will be re-evaluated on a quarterly basis.

This is a significant departure from other cryptocurrency projects which generally allow token price to be determined by market forces. Hypothetically, the value of the Impak token will be directly related to the value of the Impak network member businesses. In other words, the value of the impak token will be directly related to the value of a basket of goods and services it can be used to purchase. Estimating this value is a non-trivial exercise in economic planning. If the price is set too low or too high (or if the value changes significantly between quarters) it could lead to inefficiencies that may negatively impact both customers and merchants.  

Project Details

Incorporation status Impak Finance Inc.
Team openness Fully transparent
Blockchain Developer Pascal Leblanc
Technical White Paper Yes, but it is unclear what methods the team will use to value the token.
Available Project Code Not available
Prototype Not available

Token Details

Role of token Payment and access rights
Token supply 11.5 million
Distributed in ICO 10 million
Emission rate 5% of transaction value per year
Blockchain Waves
Consensus method Proof of Stake

Sale Details

Sale period August 16th, 2017 to September 20th, 2017
First price 1 MPK: 1 CAD
Accepted currencies ETH and BTC
Investment Round First public offering
Token distribution date 1/4 of MPK tokens available immediately, with an additional 1/4 vested every 6 months for 18 months.
Min investment goal 575,000 CAD
Max investment cap 10 million CAD
How are funds held Escrow Wallet
Minimal Viable Product 43070
Bonus schedule 25% bonus for pre-sale

Official Resources

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