Infinex, a decentralized exchange platform led by Kain Warwick, has secured $67.7 million through its unique Patron NFT fundraising model, drawing investments from high-profile companies like Peter Thiel’s Founders Fund.
The fundraising round, which officially closed on Monday, saw Patron NFTs sold to venture capitalists, angel investors, and crypto community members, marking a new approach to venture funding in the DeFi space.
What were the other Important Investments?
Noteworthy investors include Wintermute Ventures, Framework Ventures, and Solana Ventures, along with angel investors such as Ethereum co-founder Vitalik Buterin, Solana co-founder Anatoly Yakovenko, and Aave founder Stani Kulechov.
Infinex confirmed the sale of 43,244 Patron NFTs across multiple blockchain networks, including Ethereum, Solana, Arbitrum, Base, Polygon, and Optimism. The Patron NFTs, initially distributed on Ethereum, are now available on popular NFT marketplaces OpenSea and Blur.
The funding model emphasized equal participation, offering the same NFT pricing to all contributors, ensuring a level playing field across the board. This unique approach allowed Infinex to rally support for its mission of simplifying DeFi and expanding access to decentralized trading options.
What Does Infinex Aim for the Future?
Founded by Synthetix’s Kain Warwick, Infinex aims to provide a decentralized user experience that feels similar to centralized exchanges, promising a secure, multichain trading platform for users.
With a current TVL of $125 million, Infinex is positioned to accelerate growth in DeFi while eliminating dependencies on centralized exchanges. “Infinex remains steadfast in its mission to ‘accelerate the extinction of centralized exchanges,’” Warwick stated, emphasizing the platform’s goal to make DeFi accessible with a seamless, multichain user experience.
Following this successful funding round, Infinex’s roadmap includes achieving feature parity with centralized exchanges. Planned developments include the addition of spot trading, derivatives, fiat on-ramps, and more, aiming to make decentralized finance both user-friendly and powerful for all levels of investors.