Infinex founder: "Lowering the FDV of the Sonar token sale to $99.99 million" is to better adapt to the current environment.
PANews reported on December 25th that Synthetix and Infinex founder Kain Warwick tweeted that the total valuation (FDV) of Infinex's Sonar token sale has been lowered from the initial $300 million to $99.99 million to better suit the current market environment. Kain pointed out that the original planned FDV was considered too high, and the adjusted value will be more attractive, aiming to increase project buzz and prepare for the upcoming TGE.
Kain also mentioned that although the early exit option was designed as an incentive for innovation, market feedback considered its price too high. Therefore, the early exit price will be gradually reduced from $300 million to $100 million at TGE, maintaining the original one-year lock-up period structure. Furthermore, the Sonar sale is expected to be significantly oversubscribed, but due to the reduced FDV and lower total allocation, priority allocation to the original Patron NFT holders cannot be guaranteed.
He emphasized that the adjustment aims to attract more new investors, rather than being limited to existing holders. Kain expressed confidence in Infinex's success in 2026 and stated that the company will expand its market influence through various means, including the Sonar sale.
Infinex will reportedly open registration for its $INX token sale on December 27th, with the sale officially commencing on January 3rd. The target valuation for this Sonar token sale on Echo is $99.99 million, with a planned sale of 5% of the total supply, aiming to raise $5 million. The tokens will have a one-year lock-up period. After the sale concludes, an additional 2% of the tokens will be sold through the Uniswap platform at a valuation of $100 million.
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