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.

BlockBeats News, December 25 — 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 feels too high or the terms do not align with participants’ interests, it can easily lead to negative sentiment. And in the current market, there is already an abundance of ‘bad emotions.’ The purpose of this Sonar round sale 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 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 reported, Infinex updated details of its token sale on Echo’s Sonar platform. The current sale will offer 5% of the token supply, raising funds from $15 million down to $5 million, with FDV reduced from $300 million to $99.99 million. User registration will open on December 27, and the sale will commence on January 3. Additionally, the official will sell an extra 2% of tokens to Uniswap CCA.