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Infinex Founder Responds to "Reduction of INX Token Sale Amount and FDV": ICO Should Have Been Sufficiently Attractive, Previous Pricing Seen as High in Current Market Environment
BlockBeats News, December 25th, Infinex founder Kain Warwick responded on social media to the "reduction of the INX token sale amount and FDV," stating, "The ICO was supposed to be attractive enough. If the price feels too high or the terms do not align with participant interests, it can easily lead to negative sentiment. The current market is already filled with too much 'bad vibes'."
Our launch of the Sonar round sale this time was intended 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 $3 billion with a 1-year lock-up period. However, market feedback indicated that this pricing was too high in the current market environment, and the reality has not improved. We have heard the voice of the community. Therefore, we decided to reduce the FDV to $99.99 million. The reason for setting a one-year lock-up period is to filter out those participants who only intend to dump the tokens for a quick profit at TGE."
Previously reported, Infinex updated the token sale details on Sonar in Echo. This sale will offer 5% of the token supply, with the fundraising amount reduced from $15 million to $5 million and the FDV reduced from $3 billion to $99.99 million. User registration will open on December 27th, and the sale will commence on January 3rd. Additionally, the official will sell an additional 2% of the tokens to Uniswap CCA.
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