International Meme Fund

International Meme Fund (IMF) is a credit protocol on Ethereum that issues USDS loans backed by volatile and longtail collateral — memecoins and tokens that most DeFi lenders ignore. It offers borrowing against assets such as PEPE, MOG, wstETH, and IMF itself, a one-click leverage feature (Accelerate), and an automated concentrated-liquidity exit strategy (Amplify). The protocol is controlled via a "takeover token" model: whoever accumulates enough $IMF effectively owns the protocol, with no DAO or governance votes.

How lenders earn yield

When people lend their tokens on IMF, the yield they earn comes from borrowers paying interest. These loans happen inside Morpho vaults, which are isolated — each type of token (PEPE, MOG, etc.) has its own lending market. The interest rate changes based on how much of a market's supply is actually borrowed out. If less than 90% is borrowed, rates are lower; if more than 90%, rates rise, encouraging either more lending or less borrowing. The rate adjusts gradually over time.

Before lenders see any of that interest, IMF takes a 10% fee on all borrower-paid interest.

Accelerate (one-click leverage)

This feature lets a user deposit one token, borrow USDS against it (up to 50% loan-to-value as a frontend limit), and the system automatically swaps that USDS for more of the same token and re-deposits it. The result is roughly 150% exposure to the token at about 33% loan-to-value, giving a safety margin of about 57% before hitting liquidation.

Amplify (automated LP strategy)

Amplify takes a user's token and puts it into a Uniswap v3 concentrated liquidity pool paired with USDS. As real traders trade in that pool, the user earns swap fees. Over time, USDS from the pool is gradually streamed back into the user's vault as yield. IMF charges 0.01% on any swaps routed through Amplify.

How the protocol itself earns

The IMF Treasury puts its own idle USDS out to earn interest, takes long positions on select tokens, and holds wstETH as collateral to loop a borrow-and-lend spread (borrowing against wstETH and lending out the proceeds). IMF also charges a 0.3% trading fee on swaps of the $IMF token.

Liquidation

If a borrower's position reaches 77% loan-to-value (the Liquidation LTV, or LLTV), liquidators step in. They take the borrower's collateral and repay the debt, earning a small bonus for doing so.

Pricing and safety

Token prices come from DIA, using a method that takes a moving average and filters out extreme outliers (the "Moving Average with Interquartile Range Filter"). Prices update every two minutes. A risk curator sets borrowing limits for each market to try to prevent bad debt from building up.

No more incentive rewards

IMF used to give out extra Merkl rewards to attract users ("bootstrapping"), but those have been discontinued. The protocol says its business has matured past needing rewards to grow.

The IMF tokenomics table (docs.imf.bz) allocates 20.91% of the total 33,000,000 $IMF supply (6,900,000 tokens) to "Investors," described as "Initial public presale distribution." No named venture capital firms, angel investors, institutional backers, specific funding rounds, or raise amounts are disclosed in any official source. The protocol is built by "Jeet Industries Inc." with no publicly listed investors beyond the presale token allocation.