What does the launch of Infinex token sale today, with valuation adjusted from $300 million down to $99.99 million, mean?

Infinex’s INX token sale officially launched today at 14:00, marking an important fundraising milestone for this project which has raised $65 million. However, there is a noteworthy detail in this public sale: the valuation has been significantly reduced, from the initial $300 million to $99.99 million, a decrease of over 66%. What does this change reflect, and what do participants need to understand?

Sale Details Overview

Logic Behind the Valuation Adjustment

Market Environment Adaptation

The adjustment from $300 million to $99.99 million is not a minor tweak. According to the latest news, Infinex made this decision to “better adapt to the current market environment.” This reflects several realities: firstly, the fundraising environment in the crypto market early 2026 is more cautious than expected; secondly, the project team has re-evaluated their market pricing capability.

Participant Structure Differences

Interestingly, the sale mechanism sets two valuation tiers. If participating with a standard 1-year lock-up, the valuation is $99.99 million. However, if participants want to unlock at the TGE (Token Generation Event), they need to participate at a $300 million valuation. This indicates that the project team is using valuation differences to differentiate participants’ risk tolerance and liquidity needs.

Market Reactions and Diverging Opinions

According to the latest news, market opinions on this public sale are mixed:

Supporters’ Viewpoints

• Some participants have registered to participate in the sale
• Optimistic about the project’s long-term potential
• Believe the lock-up mechanism is reasonable

Critics’ Viewpoints

• The public does not receive a discount compared to private rounds but bears the greatest liquidity risk
• Internal unlock schedules are not transparent
• The project has removed free trading, a competitive advantage
• Suggest waiting until after the TGE and when liquidity is sufficient before considering participation

Key Questions to Consider

Why choose early unlock?

If choosing to unlock at the TGE instead of a 1-year lock-up, participants need to pay at a valuation three times higher (from $99.99 million to $300 million). This setup essentially asks: how much is liquidity worth? It’s a real trade-off for participants with different risk appetites.

How to assess the sale progress?

The sale runs from January 3, 14:00 to January 6, 14:00, totaling 72 hours. Given the participation threshold of $200–$2,500, this time window is relatively ample for global participants.

Summary

The launch of Infinex’s token sale marks a new phase in the project’s fundraising journey. The valuation has been cut from $300 million to $99.99 million, reflecting changes in the market environment and demonstrating a pragmatic approach to pricing by the project team. However, market reactions indicate that this public sale is not without controversy—discussions about valuation fairness, transparency, and risk distribution are ongoing. For investors considering participation, understanding the sale mechanism, valuation logic, and lock-up implications is more important than blindly following the crowd.