InfinityNEXT Token Swap Ratio, Launch Timelines and Tiers Update
Dear InfinityNEXT community, we have been working behind the scenes to make sure that the product released is safe and secure for usage. Also, we discussed internally regarding tiers’ modification with the new token launch. Now, let’s understand the justification and motive behind the tier changes.
InfinityNEXT token swap ratio
After carefully analysing historical rebranding exercises by various projects, we decided to keep the token swap to 1:1 ration i.e., users can swap 1 $INFP for 1 $INXT at launch.
InfinityNEXT tiers going forward
Since we launched InfinityPad last October, things have changed dramatically. Almost every project has been hit hard in this bear market, especially launchpad tokens. The reason is obvious — less new projects thus less interest in buying and holding launchpad tokens. In Oct 2021, when we launched InfinityPad, we came up with below tiers based on then-market conditions and average investor investment appetite. Here is the link to the old tiers. Even if we change the tiers, please note that allocation calculations would remain the same as per the old article. As you can see, when we introduced tiers, our token was trading around $0.10 and that was the key driver behind designing the old tiers. Below is a snapshot of the old tiers:
A couple of reason for new tiers:
1 — One of the main reasons is the significant token price drop due to overall market conditions. We have investors who spent thousands of dollars to get in the top tier, Infinity, but a new investor would spend just a few hundred dollars to be in the same tier. This is how markets operate but we believe that this is a bit unfair to our early supporters and investors so we want to design the new tiers in such a way that we attract good buying volume through new investors and we retain old tiers for the early supporters.
2 — As a good practice, when a company goes through restructuring or rebranding then it must bring something new and better to expand its outreach. If only name change is done, then it qualifies for a low-effort-delivery. At InfinityNEXT, we believe that rebranding should completely change our image and what we represent.
Now, we know the reasons for the tier change so let’s have a look at the new tiers:
It’s evident from the above that we have simplified our tier structure — going from 6 tiers to 4 tiers only. Now, PLEASE NOTE THAT THE PLATINUM TIER WILL HAVE ADDITIONAL BENEFITS SUCH AS free NFTs, private allocations, and airdrops etc. This will be elaborated in a later post.
Bridging the gap between old tiers and new ones
Now, let’s address the most pressing concern from our supporters — do we buy more tokens to be eligible for allocations as per new tiers? The answer is NO. We did a vote in our community and it seems that the community agreed with us not forcing old investors to purchase more tokens to retain their tiers. Initially the idea was to mint a NFT per old tiers using $INFP token but this would have resulted in unsatisfactory experience and users getting stuck with more $INFP tokens than needed with no usage. So, we’re going to adopt a democratic process and here is what we’re going to do:
At the launch of $INXT, users can swap 1:1 tokens using $INFP. The investors who want to retain their tiers, can do so by keeping/not-swapping $INFP tokens based on old tiers. The old investors can still swap the access tokens to $INXT. Let’s understand this using an example.
John has 56000 $INFP tokens. Upon launch of $INXT, he doesn’t want to lose his Galaxy tier. The Galaxy tier needs a min of 50,000 $INFP tokens so he only needs 50k tokens to retain his old tier. He now has 6k $INFP tokens which he can swap at 1:1 ratio and trade it on DEX. This way, he doesn’t need to buy more tokens to keep his tier for allocation.
John can also swap all his $INFP tokens to $INXT tokens at launch and trade BUT in order to get allocations he would need to buy $INXT tokens as per new tiers, not old tiers.
With the above approach, we believe we are addressing all concerns by our early supporters and are fair to everyone — early supporters get to keep their tiers while new users would need to buy tokens as per new tier requirement.
$INXT launch timelines
We have been monitoring the market condition and have been waiting for it to recover a bit. But this has been going in a cycle with no expected outcome in near future. So, we will launch and list the $INXT token on Pancakeswap on 6th Dec 16:00 UTC. At the same time, 16:00 UTC, any $INFP holder can swap old tokens to $INXT for trade.
$INXT Staking
We’ll be launching staking as well so that people can stake $INXT upon launch to participate in IDOs. The staking conditions are the same as mentioned in this article. Old token holders will be rewarded manually as per APY visible on the staking portal.
Thank you for your continuous support and we rely on your understanding and cooperation. Looking forward to continuing listening to our community and to building a truly community-owned launchpad.
InfinityNEXT ($INXT) official community
website: https://infinitynext.io/
Twitter: https://twitter.com/infinitypadnext
Telegram Group: https://t.me/infinitypadnext
Telegram Channel: https://t.me/infinitypad