Infinex Changes INX Token Sale Terms After Low Demand - Unchained

Infinex, a DeFi platform founded by Kain Warwick of Synthetix, revised its INX token sale terms after raising just $600,000 in three days — far short of the $5 million target from 5% of tokens at a $99.99 million FDV

“We got the sale wrong,” wrote Infinex in an X post.

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“We tried to balance existing Patron holders, new participants, and fair distribution all at once and the result was a sale that (almost) nobody wanted to participate in.”

The team removed the $2,500 per-wallet cap, switched to a “bottom-up” allocation model which increases uniformly until supply is exhausted, and retained Patron NFT holder priority which will be finalized post-sale using real demand data.

The cap removal drew the most backlash from the community as certain wallets on Polymarket made large bets on Infinex raising over $2 million, $3 million and $5 million

Although Infinex employees claim they are “banned from trading on Polymarket,” many in the community still believe insiders were behind those Polymarket bets.

As of late Tuesday evening, Infinex had raised just 31% of its target, with optimistic projections still estimating the sale will end far below that figure.