Infinex, Sonar Token's FDV significantly adjusted downward, changing market strategy

Kain Warwick, the founder of Synthetix and Infinex, has recently lowered the final cash valuation (FDV) of the Sonar token sale from $300 million to $99.99 million. This FDV adjustment is viewed as a strategic decision to better adapt to the current market conditions. It was made based on the judgment that the originally planned valuation was higher than market expectations, and it aims to enhance the project’s appeal through future Token Generation Events (TGE).

What the FDV Reduction Means: Reflecting Market Demand

Kain explained that the early sale option was initially designed as an incentive to drive innovation, but feedback from the market indicated that the price range was excessive. Accordingly, during the TGE phase, the early sale price will be gradually reduced from $300 million to $100 million. The existing one-year lock-up period will remain in place, and this FDV reset is interpreted as an effort to appeal to a broader range of investors.

Sonar Sale Structure: Reworking Quotas and Priority

The Sonar token sale through the Echo platform is expected to face intense subscription competition, but due to the FDV reduction and the decrease in total allocation, existing Patron NFT holders are also unlikely to secure priority allocations. The plan is to sell 5% of the total token supply to raise $5 million, and after the sale ends, an additional 2% of the total tokens will be supplied via Uniswap, totaling $100 million. The tokens will be subject to a one-year lock-up period.

Infinex’s Market Expansion Roadmap for 2026

Kain emphasized that this FDV adjustment is not limited to existing shareholders but aims to attract new investors. Recently, Infinex completed registration for the $INX token sale, and the official sale is ongoing. Kain expressed confidence in Infinex’s success in the first half of 2026 and plans to continue expanding its market influence through various means, including the Sonar sale.