Infinex Founder Responds to "Reduction of INX Token Sale Amount and FDV": ICO Should Have Been Sufficiently Attractive, Previous Pricing Seen as High in Current Market Environment

On December 25, Infinex founder Kain Warwick took to social media to address the reduction in INX token sale proceeds and fully diluted valuation (FDV), saying: “The ICO was supposed to be attractive enough. If the price seems too steep or terms don’t align with backers’ interests, it could easily spark negative sentiment—and the market’s already drowning in ‘bad vibes’ right now.” We launched the Sonar round to give participants a chance to buy INX tokens before the Token Generation Event (TGE). Initially, we set the FDV at $3 billion with a 1-year lockup—but market feedback made clear this valuation was too high for current conditions, and conditions haven’t improved. We’ve listened to the community, so we’re cutting the FDV to $99.99 million. The 1-year lockup is meant to weed out participants who only plan to dump tokens for a quick profit at TGE. As previously reported, Infinex has updated its Sonar token sale details on Echo. The sale will offer 5% of total token supply, with proceeds cut from $15 million to $5 million and FDV reduced from $3 billion to $99.99 million. Registration opens December 27, with the sale kicking off January 3. The team will also sell an additional 2% of tokens to Uniswap CCA.