Infinex, a decentralized exchange platform under development by the DeFi project Synthetix, has successfully raised $67.7 million through its Patron NFT sale.
Infinex, a decentralized exchange platform under development by the DeFi project Synthetix, has successfully raised $67.7 million through its Patron NFT sale.
The fundraising effort, which concluded on Monday, attracted participation from various venture capitalists, angel investors, and community members.
Peter Thiel's Founders Fund is among the notable investors in this innovative “patronage” model, which involves the sale of Patron NFTs. Other participating firms include Wintermute Ventures, Framework Ventures and Solana Ventures.
Prominent angel investors involved in the sale include Ethereum co-founder Vitalik Buterin, Solana co-founder Anatoly Yakovenko, and Aave founder Stani Kulechov.
A total of 43,244 Patron NFTs were sold across multiple blockchain platforms, including Ethereum, Solana, Arbitrum, Base, Polygon and Optimism. The NFTs were distributed to purchasers on the Ethereum blockchain and are now available for trading on NFT marketplaces such as OpenSea and Blur.
The sale was structured to ensure that all participants paid the same price, regardless of when they accessed the sale.
Infinex aims to create a user experience akin to centralized exchanges while leveraging decentralized infrastructure. The platform currently boasts a total value locked (TVL) of $125 million.
As stated by Infinex founder Kain Warwick, the project seeks to "accelerate the extinction of centralized exchanges" by simplifying decentralized finance and providing a seamless multichain user experience.
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