Infinex founder responds to 'reduction of INX token sale amount and FDV': ICOs should have enough attractiveness, the previous pricing was too high in the current market environment

BlockBeats news, on December 25, Infinex founder Kain Warwick responded on social media regarding 'the reduction of the INX token sale amount and FDV' stating that 'ICOs should have enough attractiveness. If the price feels too high, or the terms do not align with the interests of the participants, it easily brings negative sentiment. The current market is already filled with too much bad sentiment.'

Our launch of the Sonar token sale aims to provide everyone with an opportunity to purchase INX tokens before the TGE (Token Generation Event). When we initially announced the Sonar sale plan, we set the fully diluted valuation (FDV) at $300 million, with a one-year lockup period. However, market feedback indicated that this pricing is too high given the current market environment, and the reality has not improved. We listened to the community's voice. Therefore, we decided to lower the FDV to $99.99 million. The reason for the one-year lockup period is to filter out participants who are only interested in short-term flipping during the TGE.

According to previous reports, Infinex updated the details of its token sale on Echo's Sonar. This sale will offer 5% of the token supply, with the amount raised reduced from 15 million dollars to 5 million dollars, and FDV reduced from 300 million dollars to 99.99 million dollars. User registration will open on December 27, and sales will open on January 3. Additionally, the official will sell an extra 2% of tokens to Uniswap CCA.