Infinex was born with a mission to bridge the UX gap between centralized finance and DeFi. The definition of success could be stated simply: if a CeFi user could safely access onchain products via Infinex without having to learn anything new (transaction signing, gas, bridges, wallets) then Infinex would have done it’s job.
We’ve made significant progress in the months since, and have now reached a critical milestone with the launch of the Infinex Account. This article will provide context around what exactly we’re launching, next steps for Infinex, and importantly, how you can get involved in the launch campaign, Speedrun the Waitlist, to earn a share of Governance Points (GP) and Patron NFTs.
Centralized exchanges emerged to serve an audience who wanted to access crypto, but didn’t want to learn applied cryptography or navigate bare-metal onchain infrastructure. By centralizing, however, these exchanges are cut off from the powerful network effects of composable applications and open protocols, delivering a repackaged version of crypto products.
If we can build an onchain UX layer to solve those accessibility problems without completely centralizing, then we will have undermined the market need for centralized exchanges altogether. This would usher in a new era of more powerful consumer crypto applications that can leverage open, permissionless networks. We could then offer the user more tokens, more derivatives, more novel yield products by integrating onchain protocols directly, ultimately serving the customers more effectively.
But the first step is to nail the UX layer. Infinex has developed a non-custodial, composable onchain platform, that can integrate decentralized products from any ecosystem, and abstract away any reason a novice user would struggle to access them. It’s called the Infinex Account, and it’s being deployed at 00:00 UTC on Monday, May 13th, 2024.
While in development, Infinex had over 200,000 emails join our pre-launch waitlist. Before we begin to release the first Infinex integrations to the public, we need a way to sort the list. We’re opening up the Infinex Account for USDC deposits, and distributing 377M Governance Points (GP) to depositors. Those who accumulate the most GP at the end of the 30 day campaign will be given priority access to our upcoming integrations.
GP has always been used to govern Infinex, and now the Infinex Council has allocated 3,000 Patron NFTs to GP holders, converting at 200,000 GP per NFT. They have also capped the GP supply at 600M, preventing any chance of yet another points meta rug.
Go to infinex.xyz/speedrun to sign up to Infinex (and claim your username).
Once you’re onboarded, you can deposit USDC on six supported networks:
Ethereum
Solana
Arbitrum
Base
Polygon
Optimism
Once you’ve deposited, you can stake your deposit in preparation for GP streaming.
Speedrun the Waitlist officially kicks off, and GP starts streaming to stakers for 30 days. Deposits will be locked during the campaign.
377M GP will be continuously distributed to stakers based on their share of total TVL. Early deposits will earn a higher share of GP:
Speedrun the Waitlist officially concludes.