impactMarket and ImmortalX Leveraging DeFi for Financial Inclusion
A Collaboration Set to Bridge the Future of Finance Oriented by the Vision of Prosperity for All
ImmortalX and impactMarket are thrilled to announce a collaboration that showcases the power of DeFi mechanisms to do more than generate wealth — they can drive prosperity by impacting those who have long been marginalized by traditional financial systems.
At its core, ImmortalX is rewriting the playbook for decentralized perpetuals exchanges. Built on the Celo ecosystem, it introduces innovative mechanisms and tokenomics that offer a competitive edge to Celo users. Central to this collaboration is a token swap through which ImmortalX will stake impactMarket’s governance token PACT while impactMarket will stake ImmortalX’s IMTX token.
What sets this initiative apart is its forward-thinking approach to Unconditional Basic Income (UBI) funding. impactMarket will leverage cUSD rewards generated from staking IMTX to fund its global UBI program. This strategy ensures an ongoing source of funding for UBI, underscoring a commitment to a fairer and more inclusive financial future.
Unconditional Basic Income (UBI) is a key facet of impactMarket’s mission, serving as an effective strategy for poverty alleviation, crypto adoption, and retention. To date, impactMarket has distributed over US$ 3 million in UBI and provides support to over 200 vulnerable communities across nearly 30 countries (see more data on the Global Dashboard).
“At impactMarket, our vision has always been to create a world where blockchain empowers everyone, especially those in need who are often unbanked and underbanked. Partnering with ImmortalX allows us to amplify our impact and collectively drive positive change”, celebrated Marco Barbosa, co-founder and president of impactMarket.
Shared values unite ImmortalX and impactMarket in this initiative. Together, they are embarking on a mission to harness the potential of blockchain technology to empower individuals, reduce inequality, and drive positive change globally.
“Having witnessed the adversities brought forth by the lack of financial access, this reason alone was more than enough to bring forth the development of ImmortalX. The partnership with impactMarket will undoubtedly empower our establishment to accomplish its original goals and potentially transcend”, delighted Josh, co-founder and Chief Marketing Officer of ImmodtalX.
This collaboration is a testament to the fact that DeFi mechanisms, such as token swaps and staking, can serve as catalysts for prosperity and inclusion on a global scale. Together, we have the power to reimagine our systems and practices, uplifting those in need and building a world where everyone can thrive.
ImmortalX
ImmortalX is a next-generation decentralized perpetual exchange on Celo, enabling Celo users to trade cryptocurrencies such as BTC, ETH & CELO with up to 50x leverage, directly from their wallets without depositing. By leveraging our unique concentrated liquidity vault mechanism, our capital-efficient platform offers low slippage for traders and attractive yield farming opportunities for liquidity providers.
impactMarket
impactMarket provides accessible financial solutions to empower underprivileged people all over the world, unlocking opportunities and human potential. Our inclusive protocol is transparent, reliable, and borderless. It operates as a DAO on top of the Celo network, using $PACT as its governance token while running autonomously through smart contracts.
You can find impactMarket also on Twitter, LinkedIn, Facebook, Instagram, GitHub, Youtube, Telegram, and Discord.
