Infinex founder: Reduces Sonar token sale FDV to $99.99 million to adapt to current market environment

According to Odaily Planet Daily, Synthetix and Infinex founder Kain Warwick stated in an article on the X platform that the valuation of Infinex's Sonar token sale on Echo has been lowered from the initial $300 million to $99.99 million to better adapt to the current market environment. He pointed out that the original FDV was considered too high by the market, and the adjustment will help improve the project's attractiveness and prepare for the subsequent TGE. Kain also stated that the early exit mechanism was originally designed as an incentive, but due to the high pricing feedback, the relevant exit price will be gradually reduced from $300 million at TGE to approximately $100 million, while the lock-up period will remain unchanged at one year. Due to the reduced FDV, the overall allocation of the Sonar sale has decreased, making it impossible to guarantee the original priority allocation arrangement for Patron NFT holders. Kain emphasized that this adjustment aims to attract more new participants, rather than just targeting existing holders. Infinex plans to open registration for the INX token sale on December 27 and officially launch the sale on January 3. The target valuation is $99.99 million, and it plans to sell 5% of the total supply, aiming to raise $5 million. The tokens will be locked for one year. After the sale ends, another 2% of the tokens will be sold through Uniswap at a valuation of approximately $100 million.