Trading platform Infinex has changed its trading conditions. Public token sale Although it raised only about $600,000 in the first three days, the move drew criticism from traders who said it benefited well-positioned wallets.
Infinex is a non-custodial crypto trading platform that aims to simplify access to DeFi and cross-chain markets through a centralized exchange-style interface.
The project originally proposed a public offering of $5 million with a three-day period and a cap of $2,500 per wallet.
Infinex acknowledged in a statement that it was “wrong with the way it was marketed” and said the structure tried to satisfy too many groups at once.
“Retail hates locks. Whales hate caps. Everyone hates complexity,” the team wrote, apologizing for the rollout.
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Infinex said it has now completely removed that cap and moved its allocation to a “max-min fair share” model. This is a so-called “water injection” approach, where all allocations are increased equally until supply runs out, and excess contributions are refunded. The team said patron holders will still have priority, but details will be finalized after the sale ends and once total demand is known.
The one-year lock-up remains. Infinex said it still believes Lockup will create long-term user alignment, adding that it doesn’t do enough to explain its product. It positions itself as a self-custodial app built to feel like a centralized exchange, with swaps, bridging, and purp trading across multiple chains.
But that change has troubling consequences for options. Critics noted that Infinex raised $67 million last year but still had to scramble in the middle of the sale to encourage participation.
