Infinex, the wallet and tool suite led by Synthetix founder Kain Warwick, held a token generation event (TGE) today after closing its initial coin offering (ICO) earlier this month.
The INX token debuted at a fully diluted valuation of $330 million, or $0.033 per token, but has since fallen to $0.021 as airdrop recipients and ICO investors took profits, as is often the case when new tokens are launched.
Infinex functions as a decentralized super app, connecting dApps such as decentralized exchanges, bridges, and derivatives aggregators across over 25 different blockchain networks, accounting for “85% of CoinGecko’s top 100 assets,” according to a release shared with The Defiant. Infinex plans to expand its token offering throughout the first half of this year.
Looking ahead, dApps include support for prediction markets, $NFT The Marketplace provides users with an all-in-one alternative to the hundreds of dApps that DeFi power users interact with today.
dApps aggregate underlying dApps through first-party applications such as Infinex Perps and Infinex Predict, allowing users to share a single login across all supported applications.
Infinex ICO closed on January 10th and raised a total of $7.2 million from over 850 participants. In 2024, the protocol implemented Patron. $NFT mint has generated over $67 million in sales and grants to each of its patrons. $NFT Holders can claim 100,000 INX, equivalent to approximately $3,300 in TGE.
In an interview with The Defiant, founder Kain Warwick emphasized the importance of accessibility, modernizing non-custodial solutions, and the need to provide easy access to on-chain ecosystems and assets.
“It’s a no-brainer: If you make it good, people will use it. If it makes their lives better, people will want to use something… And our take on Infinex is to make Aave, Uniswap, Polymarket, all of these amazing protocols and platforms and applications that have been built over the last 10 years, as easy to use as Facebook or Instagram,” Warwick said.
