Infinex updates its fundraising approach, switching from a $5 million raise to an equitable distribution model

Infinex Alters Public Token Sale Terms Amid Criticism

Infinex, a decentralized trading platform, has revised its previous fundraising strategy after collecting only around $600,000 within the first three days. The decision has sparked backlash from traders, who argue the changes favor certain wallets with advantageous positions.

Designed to make DeFi and cross-chain trading more accessible, Infinex offers a noncustodial platform with a user experience similar to centralized exchanges.

In a recent announcement, Infinex admitted the initial structure was flawed, explaining that their attempt to accommodate various user groups led to confusion and dissatisfaction.

The team acknowledged, “Retail investors dislike the lockup, large holders are frustrated by the cap, and the overall complexity has upset everyone,” and issued an apology for the problematic launch.

In response, Infinex has eliminated the per-wallet cap and adopted a “max-min fair allocation” system, also known as a “water-filling” model. This approach ensures all participants receive equal allocations until the supply is exhausted, with any surplus funds being returned. Patron holders will still receive priority, but the exact details will be determined after the process concludes, once total demand is assessed.

The one-year lockup period remains in place. Infinex maintains that such lockups help align incentives for long-term users. The team also admitted they need to better communicate their vision: a self-custodial platform that offers the convenience of a centralized exchange, supporting swaps, bridging, and perpetual trading across several blockchains.

However, these mid-course adjustments have raised concerns. Some critics noted that Infinex secured $67 million in funding last year, yet still had to make last-minute changes to encourage greater participation.