• Non-custodial wallet with chain and gas abstraction

• Vault with onchain recovery

• Support for 20+ chains

• Browser Extension and in extension swaps

• Wallet/seed phrase import

• Perps (using HL, more DEXs coming soon)

• Swidge (cross-chain swap + bridge)

• Earn (yield aggregator)

We are confident this is the best platform for accessing the onchain ecosystem that has ever been built. But we also know "build it and they will come" is a laughable strategy. We must create powerful incentives to drive awareness and attention to the product. Tbh, this is maybe the easiest part. I have been part of teams that have built good products that have far exceeded expectations due to optimal incentive mechanisms. I have never been part of a team that could build something this incredible.

I will not leak the entire campaign, but will sketch it out to provide some early insight into how it will work. The primary mechanism will incentivise users to import wallets and connect socials to get an account rank. We will take into account historical activity on the Infinex platform in this rank.

We will be doing some things differently from other projects here. This part of the campaign will not be a linear distribution because you are not contributing liquidity or staking; you are preparing to switch your existing activity to Infinex. Using these metrics, we will rank each Infinex account. There will be modifications to the scoring throughout the campaign based on new criteria as we add additional factors, and there will be a balance snapshot at the end of the campaign. This is not a TVL campaign, but there is a presumption that larger wallets have a higher propensity to pay fees. The intention here is to ensure (like Monad) that everyone is losing their minds over how the system is scored, coming up with wild conspiracy theories and fomoing hard ahead of the big reveal.

We will calculate the rankings at the end of the campaign and release everyone's crates over a few weeks. We are not committing to anything up front other than that all things being equal, it will be better to rank higher than to sybil, as there will be scaling factors as you move up the rankings, so it will always be optimal to rank 500th versus trying to split wallets and get three accounts to 1,000th. Don't ask me how this works, but the math maths.

"Ok, but what the fuck do I want your dirty crates for, don't you realise Opensea is already doing chests? Coinbase probably just got like a trillion chests from buying that fucking UpOnly NFT. How are you going to beat that idiot?"

First of all, these are pristine, top-of-the-line crates; you will definitely want them. In fact, some of these crates have entries into a $1m prize draw. Secondly, the prizes in these crates will only get bigger as the campaign progresses. But good luck with your chests.

I have talked recently about the airdrop meta and who the optimal cohort is to reward. Luckily, we have not incentivised any farming campaigns or schemes outside of Craterun, so we don't have any debt, except maybe Bullrun, and that is a debt to society to slay the bots. This means we can optimise our distribution pre-TGE.

We have several plans. The campaign will have many cash prizes, but it will also have discount token vouchers, allowing you to buy our upcoming token at a discount when it is released. Each voucher will have a fixed price, so provided the token price is above the voucher price, it makes sense to buy it. These vouchers last a year, so there will be plenty of time to use them.

The second phase of our TGE process will be determining whether our product launch and incentive campaign have generated enough traction to justify committing to TGE. We expect this will take a few weeks, and we hope to make this decision by the end of November. As soon as we are confident in our trajectory and traction, we will announce the date of TGE and start the last phase.

The final phase will be launching a pre-market perp and maximising distribution. We have been looking at various ways to get more tokens into community hands. We did fairly well during the patron sale, but it was a different part of the cycle, and not everyone was risk-on, so the distribution mainly went to funds and whales. While everyone got the same price, most of the token supply is held by long-term holders and funds who are unlikely to sell in the short term. This is a problem for liquidity because less than 10% of the supply will be liquid by the end of this year. We already did an Echo sale last year, and we think the timing is perfect to do a Sonar sale a few weeks before TGE. Final pricing tbd, but likely fully unlocked at the previous liquid tier price, or an auction idk. The nice part about this is that Sonar will also be the Infinex launchpad, so all of our work on this integration will be reusable.

As mentioned in my governance post earlier in the week, we must ensure we have sufficient momentum on product and revenue before we commit to TGE, so we will be waiting to see how traction is building during the campaign period before committing to a date. We want to see meaningful revenue across two revenue streams, in-extension swaps and perps.

Somewhat bizarrely, we have had several examples of NFT sets dropping tokens to holders this cycle, the best example is definitely the Pengu drop to Pudgies holders. It also illustrates how liquidity impacts pricing. The market cap of PENGU is almost 5x that of the Pudgy Penguins NFT set, and that is despite Solana memecoins struggling lately. I think Infinex can aspire to doing a token distribution that replicates or exceeds Pengu.

The plan is straightforward: 100% of the token supply of our new token (ticker tbd) will be distributed to Patron holders. That has been the promise since the beginning, and it remains unchanged. Luckily, we still have ~30% of the token supply in the treasury, so we have room to distribute more tokens now that we have significantly derisked execution.

Once the Infinex Token is live, we will need a plan for the Patron NFT. My dream is to turn it into a pure PFP-style NFT. And this is why I think we can outperform the exceptional PENGU distribution, because the Patron is currently a pretty shitty non-fungible token.

The other issue is that we have 100k NFTs, so we probably need to reduce this to align with classic collections. While we aspire to 100k users wearing an Infinex PFP, this is probably a little too high. So I would like for the community to be able to mint a new Infinex PFP NFT by combining multiple NFTs if you choose. We will need explicit rarity tiers and a mechanism to combine NFTs to get guaranteed rare NFTs. This should reduce the supply to something more like 25-50k, which is more reasonable. Given that revenue from the Infinex platform will go to buying back the new token and not the NFT, I expect the NFTs to evolve into a cultural Infinex item. I suppose it depends on how good the art is.

We are planning to launch our incentive campaign and release all of the features listed above in mid-November. As soon as we have sufficient traction, we will press the button and commit to TGE. We will also look to launch a pre-market perp. Pre-market perps typically trade for a few weeks before the launch of the token. We are hoping to stretch this out to 4-6 weeks, because we have the patron NFT to anchor the perp somewhat, so it is not a completely floating price. So if you are doing the math, that puts our TGE squarely in the late December/early January range. Sorry, polymarket enjoyers, it still looks like a coin toss.

We have quite a bit of work to get ready for the launch of the spot token, as well as a bunch of new features to roll out, like our trading terminal. So it will be very interesting to see how quickly we can get the launchpad integrated and launch the Sonar sale, which will be the main limiting factor.

Provided our incentive campaign is working and the platform is scaling, we will continue with our feature rollout and begin token buybacks as per our new governance framework.

There are a lot of things coming, a trading terminal, more chains and assets, an NFT platform and several more perps markets all accessible from a single interface. And critically, we will continue to bring features into the main platform where we can hone the UX and simplicity of the platform to a far greater degree.

There are many elements to this plan, but we now have a clear and linear path forward. Which is why we are confident we can land it all in the next few months. We have laid the foundation for the best onchain platform ever built over the last few years and only accelerated over the last few months. We are ready to scale, and we want to compete for share of wallet. First from existing onchain users, and then from centralised exchanges, and eventually (likely next cycle) for the hearts and minds of normies. The crypto world is in the midst of a major transition. Infinex saw this coming years ago and has been building towards it. We are finally ready to deliver what we promised back in 2023.

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