Infinex founder responds to lowering INX sale valuation: Aims to ease negative market sentiment and attract new users

Foresight News reported that Infinex founder Kain Warwick responded to the adjustment of INX token Sonar sale terms in a post. Kain Warwick stated that, as the initial valuation of $300 million was considered too high in the current market environment and could easily trigger negative sentiment, it was decided to lower the FDV of the Sonar sale from $300 million to $99.99 million, and the fundraising target was also reduced from $15 million to $5 million. Registration for this sale will open on December 27, and the official launch will be on January 3. The token supply will account for 5%, with a one-year lock-up period.

The new plan retains the paid early unlock mechanism, with the price decreasing over time from a $300 million FDV to a $100 million FDV. Due to the reduced valuation resulting in a smaller allocation, Patron holders will no longer have guaranteed allocations, and the sale will use an RNG random allocation method. The individual subscription limit remains between $200 and $2,500. In addition, after the Sonar sale ends, another 2% of the tokens will be sold on Uniswap CCA at a $100 million FDV.