Infinex Alters Token Sales Amid TGE Failure and Insider Trading Concerns

Infinex Token Sale Challenges and Adjustments

Infinex initiated its token sales on January 3, facing underwhelming participation with $448,000 raised in the first 24 hours, against a $5 million target.
The initial sale plan included a one-year lock-up and a $2,500 individual cap, which met criticism from participants.
Changes announced on January 5 include removal of the individual cap and adoption of "bottom-up fill" allocation to ensure fair distribution.
Preference for "Patron holders" remains, but specific details will be determined post-sale based on demand data.

Insider Trading Concerns

Analysts noticed suspicious activity on Polymarket, where new accounts bet heavily on Infinex reaching $3 million and $5 million shortly before announcements.
This has led to allegations of insider trading or information leakage, but Infinex has not addressed these claims.

Infinex Overview

Infinex is a non-custodial crypto superapp offering centralized exchange-like experiences on-chain.
It integrates various functionalities like trading, swapping, yield farming, NFT marketplaces, and more, across over 20 blockchains.