Infinex proactively lowers public FDV to 100M. Is Infinex still worth participating in? @infinex founder @kaiynne admitted during an interview with Bankless yesterday that the market's reaction to the initial (300M FDV + 1-year lockup) was lukewarm. They have proactively made a significant adjustment to (100M FDV + 1-year lockup) to increase appeal. @kaiynne estimates that only a few thousand people will be able to participate in the Sonar sale. If users want to unlock and sell early, they can also purchase at the 300M FDV price. ▫️ Current main revenue sources for @infinex: ▫️ Builder fees from HyperLiquid In the past 30 days: Ranked #2 among all HyperLiquid builders (second only to Phantom, ahead of MetaMask, Base, etc.). Generated over $1 million in builder fees. Accounted for about 3% of HyperLiquid's total trading volume. Thousands of active Perp trading users. Additionally, its core product Switch (Swap + Bridge) has been running for 9 months without charging fees. Incentive programs and fee implementation are coming soon. Infinex positions itself as a super DeFi wallet, or essentially a super user-friendly mobile crypto banking app, making all on-chain operations simple and frictionless. Currently, the total monthly active wallets are in the low six figures. Infinex has a clear product positioning, but in terms of user numbers and revenue, it is still far behind the top players.