Infinex founder responds to "Lowering INX token sale amount and FDV": ICO should have been sufficiently attractive, but the previous pricing was too high in the current market environment.

On December 25th, Infinex founder Kain Warwick responded on social media to the “lowering of INX token sale amount and FDV,” stating, “ICOs should be sufficiently attractive. If the price seems too high or the terms do not align with participant interests, it can easily lead to negative sentiment. And in the current market, there is already an abundance of ‘bad emotions.’ The purpose of launching the Sonar round sale this time is 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 lock-up period. However, market feedback indicated that, under the current market conditions, this pricing was too high, and the reality has not improved. We have heard the community’s voice. Therefore, we decided to lower the FDV to $99.99 million. The one-year lock-up period is intended to filter out participants who only want to short-term flip during the TGE.” Previously, it was reported that Infinex updated the details of its token sale on Echo’s Sonar platform. The current sale will offer 5% of the token supply, with the fundraising amount reduced from $15 million to $5 million, and the FDV lowered from $300 million 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 extra 2% of tokens to Uniswap CCA.