what's Impermax Finance?
Impermax Finance is a decentralized finance (DeFi) protocol that enables permissionless leveraged yield farming across multiple blockchain networks. It allows users to amplify their positions in liquidity pools by borrowing assets without traditional collateral requirements, facilitating higher yields through integrated lending and farming mechanisms. The protocol operates on layer-1 and layer-2 solutions, integrating with various decentralized exchanges (DEXes) to provide seamless liquidity and reward opportunities. At its core, Impermax uses a non-custodial lending model where users can lend and borrow assets to create leveraged exposures to yield-bearing positions. This is achieved via isolated lending markets for specific trading pairs, reducing systemic risk. The protocol's architecture supports cross-chain deployments, enabling users to farm rewards in native tokens while maintaining composability with other DeFi primitives. Impermax emphasizes accessibility and efficiency, with features like automated position management and reward accrual in its governance token. It has expanded to ecosystems such as Avalanche, Fantom, and Arbitrum, fostering a modular approach to leveraged strategies in DeFi.
Impermax Finance experienced cascading liquidations and bad debt from Stability DAO on Jan 8, 2026.
Experienced cascading liquidations on January 8, 2026, when Stability DAO treasury borrowed maximum stablecoins against their holdings and entered bad debt.
Exploited for approximately $380K due to a token math bug in Curator Vaults.
The protocol was exploited for $400k.
Yield Vaults show increased transaction activity on Base chain, ranking top 10 among Base applications and top 25 across all chains.
New cBridge integration enables cross-chain movement of $IBEX across 9 networks.
Active security incident: v3 protocol exploited for $200k
Active security incident: $150K lost in flash loan attack.
Security breach results in $300k loss and impacts leverage functionality in V3 protocol.
Active exploit on v3 protocol steals $600K through deleveraging function. Lenders advised to withdraw; borrowers warned not to withdraw.
Version 3 protocol launches today