Trading platform Infinex changes its terms Public token sale Only about $600,000 was raised in the first three days, a move that drew criticism from traders who said the move was good for wallets.
Infinex is a non-custodial cryptocurrency trading platform designed to simplify access to DeFi and cross-chain markets through a centralized exchange-style interface.
The project initially plans to raise $5 million publicly, with a three-day period and a cap of $2,500 per wallet.
Infinex admitted in a statement that it had made a “sales mistake”, saying the structure was trying 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 the cap and moved allocations to a “max-min fair allocation” model – a so-called “water injection” method in which all allocations increase evenly until the supply is exhausted and excess contributions are refunded. Patron holders will still get priority, but details will be finalized after the sale closes, once total demand is clear, the team said.
The one-year lock-up period remains in place. Infinex said it still believes lock-ins can bring consistency to long-term users, adding that it has not done enough to explain its product – which positions itself as a self-custodial application designed to feel like a centralized exchange with swaps, bridging and perpetual trading across multiple chains.
But the changes are awkward to choose from. Critics point out that Infinex raised $67 million last year but still had to get a head start on mid-term sales to spur participation.
