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Infinex, the wallet and tool suite led by Synthetix founder Kain Warwick, conducted its token generation event (TGE) today after concluding its initial coin offering (ICO) earlier this month.
The INX token debuted at a $330 million fully diluted valuation, or $0.033 per token, and has since dropped to $0.021 as airdrop recipients and ICO investors take profits, as is typical when new tokens launch.
Infinex functions as a decentralized super app, connecting dApps such as decentralized exchanges, bridges, and derivatives aggregators across more than 25 different blockchain networks, accounting for “85% of the top 100 assets on CoinGecko,” according to a release shared with The Defiant. Infinex plans to expand its token offerings throughout the first half of the year.
Looking ahead, the dApp plans to incorporate additional popular Web3 features, including support for prediction markets and $NFT marketplaces, offering users an all-in-one alternative to the hundreds of dApps DeFi power users interact with today.
The dApp aggregates underlying dApps through its first-party applications, such as Infinex Perps and Infinex Predict, allowing users to share a single login across all supported applications.
The Infinex ICO concluded on Jan. 10 and raised a total of $7.2 million across more than 850 participants. In 2024, the protocol conducted its Patron $NFT mint, which generated more than $67 million in sales and allowed each Patron $NFT holder to claim 100,000 INX, worth roughly $3,300 at TGE.
In an interview with The Defiant, founder Kain Warwick emphasized the importance of approachable access, the modernization of non-custodial solutions, and the need to provide easy access to onchain ecosystems and assets.
“It's a really straightforward thing: make it good, and people will use it. If it makes their life better, people will want to use a thing…And so our view with Infinex is [to] make all of these amazing things, Aave, Uniswap, Polymarket, all of these amazing protocols and platforms and applications that have been built over the last decade, as easy to use as Facebook or Instagram,” said Warwick.
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