Scan to download
BTC $58,766.33 -3.17%
ETH $1,529.14 -5.43%
BNB $555.77 -1.66%
XRP $1.01 -4.73%
SOL $66.81 -1.10%
TRX $0.3215 -1.72%
DOGE $0.0733 -3.50%
ADA $0.1401 -4.95%
BCH $187.03 -1.77%
LINK $7.08 -4.20%
HYPE $62.00 -1.75%
AAVE $82.70 +0.21%
SUI $0.6667 -1.54%
XLM $0.1724 -6.97%
ZEC $409.23 -0.47%
BTC $58,766.33 -3.17%
ETH $1,529.14 -5.43%
BNB $555.77 -1.66%
XRP $1.01 -4.73%
SOL $66.81 -1.10%
TRX $0.3215 -1.72%
DOGE $0.0733 -3.50%
ADA $0.1401 -4.95%
BCH $187.03 -1.77%
LINK $7.08 -4.20%
HYPE $62.00 -1.75%
AAVE $82.70 +0.21%
SUI $0.6667 -1.54%
XLM $0.1724 -6.97%
ZEC $409.23 -0.47%

inx

All
Article
Flash

Infinex founder: Adjusts the valuation of INX token Sonar sale to 99.99 million USD

Synthetix and Infinex founder Kain Warwick posted on X platform that the valuation of the Sonar token sale conducted by Infinex on Echo has been adjusted from the initially set $300 million to $99.99 million to better align with the current market environment. He pointed out that the original FDV was considered too high by the market, and the adjustment will help enhance the project's attractiveness and prepare for the subsequent TGE.Kain also mentioned that the early exit mechanism was originally designed as an incentive, but due to high pricing feedback, the related exit price will be gradually lowered from $300 million at TGE to about $100 million, while the lock-up period will remain unchanged at one year. As a result of the FDV adjustment, the overall allocation for the Sonar sale has decreased, making it impossible to ensure the original priority allocation arrangement for Patron NFT holders.Kain emphasized that this adjustment aims to attract more new participants rather than just existing holders. Infinex plans to open registration for the INX token sale on December 27, with the official sale starting on January 3, targeting a valuation of $99.99 million, intending to sell 5% of the total supply, with a fundraising goal of $5 million, a one-year lock-up period, and an additional 2% of tokens will be sold through Uniswap at an estimated valuation of about $100 million after the sale ends.

StablecoinX has completed a $360 million financing and launched the ENA treasury strategy, planning to list under the code "USDE" on Nasdaq

ChainCatcher news, according to official sources, the stablecoin issuer StablecoinX has announced the completion of a $360 million financing round to acquire ENA tokens and plans to list Class A common stock under the ticker "USDE" on the Nasdaq Global Market. Among them, the Ethena Foundation will contribute ENA tokens valued at $60 million.To initiate the acquisition plan, StablecoinX will use the net cash proceeds of $260 million (after deducting related expenses) from the financing to purchase locked ENA tokens from a subsidiary of the Ethena Foundation.Starting today, the subsidiary of the Ethena Foundation (through a third-party market maker) will strategically acquire ENA tokens on public trading platforms using the entire $260 million cash obtained from the token sale over the next few weeks, aligning the interests of the foundation more closely with those of StableCoinX shareholders.As planned, approximately $5 million will be invested daily for acquisitions over the next 6 weeks. At current prices, $260 million represents about 8% of the circulating market value of ENA.It is worth noting that the Ethena Foundation has exclusive decision-making authority to veto any sale of ENA tokens by StableCoinX. Ideally, these tokens will only be used for accumulation and not for sale.If StableCoinX subsequently raises funds to purchase more locked ENA from the Ethena Foundation or its affiliates, the cash proceeds from these token sales are planned to be used for spot purchases of ENA.
app_icon
ChainCatcher Building the Web3 world with innovations.