The price of Solana has continued to struggle in recent weeks and investors may wish to consider green alternative IMPT, which has sold out the first stage of its presale a month ahead of schedule after raising $11 million in just three weeks.
Solana is currently trading at around $33 and is in the green in the last week, but only because it suffered a massive dip in mid to late October, dropping below $28 – its lowest price since July 2021.
In fact native token SOL, currently trading at $30.90, is 87% down from its all-time high and 80% down in 2021.
Solana Price Recap
Despite its super fast speed and efficiency as a blockchain, Solana has been hameorraging value throughout the year.
Not only is the coin struggling but the chain as a whole is way down and, according to DeFi Llama its Total Locked Value (TVL) has dropped 85% from January and fell below $1 billion earlier this month, again for the first time since July 2021.
Solana has been affected by numerous issues, that stretch beyond just the crypto bear market.
With frequent outages affecting the network and missteps on dApps – such as NFT marketplace Magic Eden’s decision to make royalties optional – hurting the project.
The short-term price may see a small recovery but it is a long road ahead for SOL to even break three figures.
Solana Alternative – IMPT Racing Through Presale
The new protocol, which launched at the start of October, took just three weeks to sell out the first stage of its presale, raising $11 million and moving onto stage 2 four weeks ahead of schedule.
The presale will have three stages in total, with 1.8 billion (60%) of the 3 billion max supply on sale, a $40 million hard cap, and no vesting period for presale tokens.
Finding new crypto presales and investing early has been one way that smart investors have continued to beat the bear market in 2022 and make huge returns on investment, despite more established coins falling throughout the year.
Projects such as Aptos, ApeCoin, Tamadoge, and STEPN are among a number of projects that launched this year after successful presales brought a lot of hype.
IMPT – Project Overview
IMPT is a unique protocol that will help to fight global warming by making carbon credits tradeable and offer users the chance to earn carbon credits while shopping.
The project, built on energy-efficient Ethereum which slashed its energy consumption by 99.99% after the Merge, wants to improve carbon offsetting efforts of both individuals and businesses. It’s revolutionary model has led to some experts citing it as one of the best long term crypto investments.
What are Carbon Credits?
Carbon credits are effectively permits that allow companies and businesses to emit a certain amount of greenhouse gas into the atmosphere.
One carbon credit allows one tonne of carbon dioxide to be released by a company, offsetting pollution from manufacturing processes or logistics and deliveries.
The credits in turn fund eco-friendly and environmental projects around the globe.
Governments and states in many countries have placed mandates on companies to cut greenhouse gas emissions, with the mandatory carbon market with around $271 billion annually.
However, while the voluntary market is only worth around $2 billion annually, it is expected to grow to as much as $100 billion by 2030, according to an estimate from Bloomberg.
While credits cost an average of $4 in 2021, their price is expected to skyrocket, and could be worth triple figures in the next decade.
Carbon Credit Trading and Fraud
IMPT will make carbon credit trading open to everyone, to help both individuals and companies increase reduce their carbon footprint and to reduce fraud in the space.
IMPT will convert carbon credits into NFTs and individuals and businesses will be able to buy, sell, or hold carbon credits as a long-term investment on a bespoke marketplace on their platform.
Furthermore, users can also choose to ‘retire’ a carbon credit and permanently take it off the market. In return, they receive a different unique – and tradeable – NFT.
Blockchain technology will help reduce fraud and scams in the voluntary carbon market, which has several forms.
With the market currently fragmented, current scams include selling projects that do not exist, overcalculating the number of carbon credits a project can generate, double selling carbon credits to two different companies, and a lack of documentation.
With everything visible on-chain, IMPT will reduce fraud and create a secure and transparent ledger to track transactions and individual credits.
Earn Carbon Credits While Shopping
As well carbon credits becoming directly tradeable as NFTs, users of IMPT can also earn IMPT tokens while shopping, which can then be converted into carbon credits.
The protocol will do that by including a widget on retailers’ websites, with the brands then deciding how much of the sale they want to offer as a percentage back to shoppers.
Not only will shoppers be able to earn tokens and fund eco projects themselves, but will be able to make more eco-friendly choices when shopping as they can elect to shop with retailers that offer a higher percentage of sale.
IMPT has already partnered with more than 10,000 retailers – some of them globally recognized.
Amazon, Microsoft, LEGO, and River Island are among the biggest names to have affiliated with IMPT, with more to follow.
While some investor crypto presales are risky, IMPT has completed a number of steps to ensure investor confidence at this early stage.
The founders, who are public-facing and doxxed, have been Know Your Customer (KYC)-verified by third-party CoinSniper.
The IMPT smart token has also been fully audited by blockchain security firm Hacken, ensuring it is scam and rug-proof.
The team has long experience at the executive level in a variety of commercial industries, including with big brands such as Oracle, Google, and Tesco.
IMPT Presale Details
As mentioned above, IMPT is now in stage 2 of its 3-stage presale process having sold $11 million of tokens in stage 1 in just three weeks – completing the stage four weeks ahead of schedule.
Tokens had been on sale for $0.018 but are now selling for $0.023 and will increase again in the third and final stage to $0.028.
That represents a 55% increase between stage 1 and stage 3 and means that while $100 returned 5,555 tokens in stage 1, it will buy only 3,571 stage 3.
The first stage saw 600 million tokens sold, stage 2 will see another 660 million tokens sold and stage 3 a final 540 million tokens sold. In total, 1.8 billion of the 3 billion max supply will have been sold during the presale.That represents 60% of the total supply – a further 10% was sold in a private sale to early adopters.
The remaining 30% of tokens are split between marketing the project (10%), the team (5%) and the further growth and development of the project and ecosystem (15%).
There will be no vesting period for any of the presale tokens, with tokens unlocked when the presale is complete.
How to Buy IMPT
For a full guide on how to buy IMPT tokens during the presale, read below.
Step 1 – Download Crypto Wallet and Connect
You will first need a crypto wallet to buy IMPT tokens.
We recommend MetaMask on a desktop PC or the Trust Wallet app on mobile – both are free and easy to use.
After signing up for one of the apps, head to the IMPT website.
Click ‘Connect’ and follow the steps to confirm the connection by entering your password or pin number when prompted.
Step 2 – Acquire ETH or USDT
IMPT tokens cannot be bought directly with fiat currency and must be converted from either ETH or USDT.
For beginners, the easiest way to buy IMPT tokens is to head to the IMPT website and select ‘Buy ETH with Card’.
This will then direct you to a third-party app – Transak – where ETH can be bought with a credit or debit card. An Ethereum transaction (gas) fee will apply. Alternatively, ETH or USDT can be transferred from another wallet or a crypto exchange.
Step 3 – Buy IMPT Tokens
Beginners should then redirect to the IMPT and press ‘Buy IMPT with ETH’.
In the next pop-up box, enter the number of tokens you would like to buy, ensuring to allow for gas, which will be calculated before the transaction is complete.
Follow the steps to complete the transaction and buy IMPT tokens.
Step 5 – Claim IMPT Tokens
Your purchased tokens will then be viewable on the IMPT website.
Tokens will not be available to be claimed or withdrawn until all stages of the presale are complete. They will be stored on the website in the meantime.