Infinex founder: Lowering INX token Sonar sale valuation to $99.99 million

TechFlow news, on December 25, Infinex founder Kain Warwick @kaiynne announced a significant reduction of the fully diluted valuation (FDV) for the INX token Sonar sale from the originally planned $300 million down to $99.99 million, responding to market feedback about initial pricing being too high. Registration for this sale will open on December 27, with the sale officially starting on January 3, targeting a fundraising goal of $5 million, representing 5% of the total supply. Tokens will have a one-year lock-up period, but an early unlocking mechanism is retained, with unlock prices gradually decreasing over time from $300 million to $100 million. Due to the reduced valuation, the sale is expected to be heavily oversubscribed; therefore, allocation for Patron NFT holders cannot be guaranteed. The entire sale will use an RNG mechanism, with a minimum investment of $200 and a maximum of $2,500.