Synthetix founder's new work! Infinex TGE pre-releases 5% Token financing, valued at 300 million.

The encrypted super application Infinex announced the details of its Sonar Token sale, allowing members to acquire INX tokens before the Token Generation Event (TGE) in January 2026. Infinex founder Kain Warwick stated that the company plans to issue INX through Sonar, with an issuance representing 5% of the total supply, valued at $300 million, aiming to raise $15 million.

Infinex's $67.7 million Patron NFT financing was successful

According to Warwick, who co-founded the early Ethereum DeFi project Synthetix, the sale of Sonar aims to continue the momentum of last year's successful Patron NFT fundraising. That large-scale digital collectibles fundraising event spanned six blockchains and received support from Founders Fund, Solana Ventures, Wintermute Ventures, and many founders in the crypto ecosystem. The $67.7 million in financing is extremely rare for NFT projects, indicating that Infinex's vision has gained recognition from top institutions.

The Patron NFT is not only a financing tool but also an early pass to the Infinex ecosystem. Each Patron NFT grants the holder the right to receive 100,000 INX Tokens at the TGE. Holders of liquid Patron NFTs will receive corresponding allocation rights based on the number of Patrons they own. According to Infinex, one Patron can allocate tokens worth $2,000, five Patrons correspond to $15,000, 25 Patrons can allocate up to $100,000, and 100 Patrons can unlock a maximum allocation of $500,000.

This tiered distribution mechanism encourages large holders to concentrate their purchases of Patron NFTs, while also reserving participation opportunities for small investors. More importantly, this design creates secondary market demand for Patron NFTs, as holders can accumulate more Patrons to increase their INX Token distribution quota.

Patron NFT Allocation Mechanism

1 Patron Coin: Allocate a value of 2,000 USD in INX Token

5 Patron coins: Allocation of INX Token worth $15,000

25 Patron coins: Distributing INX Tokens valued at up to $100,000

100 Patron Tokens: Allocating INX tokens worth up to $500,000

This design allows early supporters to achieve significant potential returns. If INX performs well after the TGE, the investment return rate for Patron NFT holders could reach several times or even tens of times. This expectation has also driven active trading of Patron NFTs in the secondary market, with many investors trying to accumulate more Patrons before the TGE to increase their allocation.

Sonar Token Sale Mechanism: 5% Supply Volume 300 Million Valuation

This sale will offer 5% of the Token supply, with a fully diluted valuation of 300 million USD, part of which will be allocated to Patron NFT holders, while another part will be distributed to non-Patron holders through a lottery. Infinex founder Kain Warwick stated that the company plans to issue INX through Sonar, with the issuance accounting for 5% of the total supply, fixed at a total valuation of 300 million USD (fully diluted), with the goal of raising 15 million USD.

A fully diluted valuation (FDV) of 300 million USD is quite aggressive for a project that has not yet officially launched its mainnet. This valuation suggests that the market has extremely high expectations for Infinex's positioning as a “cryptocurrency super application.” In comparison, many DeFi protocols that are already live and have actual users also have FDVs only in the hundreds of millions of USD range. Whether Infinex can prove the rationality of this valuation depends on whether its products can truly realize the vision of a “super application.”

The tokens purchased through this sale will be locked for one year, but participants can choose to pay a premium above the base sale price to unlock them early. This design creates a flexible locking mechanism: investors willing to hold long-term can purchase at the base price and accept the one-year lockup, while investors eager for liquidity can pay a premium to shorten the lockup period. The specific premium ratio will be dynamically adjusted based on the unlock time, with a higher premium required for earlier unlocks.

Infinex stated that after the Sonar issuance ends, its treasury will retain about 25% of the total supply of Tokens for future incentive measures. This Token distribution structure demonstrates the team's considerations in balancing early financing, community distribution, and long-term development reserves. The 25% reserve provides ammunition for future user incentives, liquidity mining, and ecosystem expansion.

Participants without sponsor NFTs can still participate in this sale through a separate lottery route. Their quota limit is set at $5,000 per person, with a minimum purchase amount of $200. Infinex stated, “Pre-sale registration will take place in the coming weeks.” This lottery mechanism provides ordinary investors with a fair opportunity to participate, avoiding monopolization of Token distribution by early large holders.

Infinex Positions Itself as a Super App in the Encryption Challenge Against Giants

Infinex claims to be a super application for cryptocurrencies, integrating wallet infrastructure, trading functionalities, and multi-chain connectivity into a unified interface. The platform features a non-custodial, gas-free multi-chain wallet that supports over 20 networks, and incorporates trading processes for swaps, perpetual futures, predictions, and other on-chain operations. Infinex's goal is essentially to become a universal access point for cryptocurrencies, including upcoming blockchains like Fogo and MegaETH.

Warwick stated that the sale conducted through Sonar will allow investors to have broader access to what he calls the next dominant application form of encryption. “The form that will dominate encryption in the next five years will be super applications,” he said. This vision is similar to the successful model of WeChat in China, which integrates multiple functions such as payments, social networking, and trading into a single application.

Users can import their existing wallets and “organize” their portfolios through a tool scheduled to be launched on November 30. Additionally, according to a report by The Block, a browser extension for decentralized applications and a set of key authentication systems are also under development, which will make it easier for users to access their portfolios across different devices. The launch of these features will directly impact the user experience and adoption rate of Infinex.

The growth in user adoption may also drive INX's revenue-driven Token economic model, which will adopt a simple buyback mechanism. “We create platform revenue through various products, and then use that revenue to buy back Tokens,” Warwick stated. Previously, the project integrated chain signatures in collaboration with the Near Foundation and utilized Wormhole's bridging framework to achieve cross-chain functionality.

Warwick stated: “The more revenue we generate before the TGE, the more funds we will have available for stock buybacks when INX begins trading.” According to the official statement, government bond trading activities are publicly tracked through the HyperTracker system. This transparent revenue tracking mechanism provides investors with real-time data to assess the project's health.

The impact of the 400 million dollar acquisition of Echo by the largest cryptocurrency exchange in the United States

According to a source familiar with the system, Sonar has been operating under the “umbrella” of the largest compliant cryptocurrency exchange in the U.S. after acquiring its parent project Echo for $400 million in October, but it still operates independently for self-custodied sales. “So it's not like Monad,” the source said, referring to the recent issuance of the MON Token using the newly launched ICO platform of the largest compliant cryptocurrency exchange in the U.S.

The acquisition of Echo by the largest compliant cryptocurrency exchange in the United States is extremely important because it provides strong technical and compliance support for Infinex. As Echo is the parent project of Infinex, its acquisition by the exchange means that Infinex indirectly receives the endorsement of the world's largest compliant exchange. This ripple effect will significantly enhance Infinex's market credibility and user confidence.

However, the Sonar Token sale continues to operate independently, demonstrating Infinex's desire to maintain its decentralized and community-driven characteristics while enjoying the support of the largest compliant encryption exchange ecosystem in the United States.