1. Project Introduction
Infinex is a decentralized trading platform launched by Kain Warwick, the founder of Synthetix. By integrating open and permissionless on-chain protocols such as Ethena, Synthetix, Wormhole, etc., users can experience the functions of multiple on-chain protocols in one Infinex product.
1. Features
Junior Sister compared it to an "on-chain exchange" in the title. In addition to its ability to provide users with one-stop interactive operations by integrating various on-chain protocols, what is more important is its optimization of the on-chain user experience.
In its white paper, Infinex emphasized the need to bring user experience into line with that of centralized exchanges while maintaining decentralization.
When using Infinex, users do not need to create a wallet, copy mnemonics, or even pay gas fees.
2. Financing
Once launched, Infinex attracted more than 50 million US dollars in deposits on the first day, and its total NFT sales raised a total of 67.7 million US dollars.
In addition to individual users, those participating in the NF T purchase include institutions such as Wintermute Ventures, Framework Ventures and Solana Ventures, as well as angel investors such as Ethereum co-founder Vitalik, Solana co-founder Anatoly Yakovenko and Aave founder Stani Kulechov.
It so happens that the airdrop track has picked up recently, and Hyperliquid’s super airdrop has rekindled many people’s hopes of making money. If you missed Hyperliquid, then you must remember to participate in Infinex!
2. Interaction Steps
Infinex is still under development and some functions are not open yet, so the interaction process is not complicated.
It mainly includes operations such as creating an account, recharging assets, trading assets, and cross-chain operations. To create an account, you need to use a physical device as a Passkey, which may be inconvenient for multiple account operations. I will introduce a new method to bypass the physical device to store the Passkey and create multiple accounts on one computer.
1. Register an account
Search “infinex onchain” on Google, and the first search result will lead you to the official website.
Open the URL above and click "CREAT ACCOUNT" below to create a new account.
Click "CONTINUE" to proceed to the next step
2. PassKey selection
At this time, a pop-up window will appear on your browser, asking you where to save the Infinex access key. The pop-up window interface on some computers will be different, as shown in the figure below, but there is no difference in operation.
Depending on each person's usage habits, there may be the following options:
Google Password Manager
iCloud Keychain
Mobile phones and tablet devices
Chrome browser profile
If you use Google Password Manager to manage all your passwords, you can save your Passkeys there.
iCloud Keychain is an option that usually appears on Apple devices, which saves your Passkey to iCloud network disk. As long as your Apple device remains safe, Passkey is safe.
You can also save Passkey directly to a hardware device, such as a mobile phone, tablet, or even a USB flash drive or hardware wallet. When your computer does not have any password management tools turned on, you will be prompted to insert a hardware device and save Passkey to this hardware.
The last one is relatively simple. When you use Chrome and log in to your Google account, you will generally have this option. If your computer has a fingerprint, you will need to use the fingerprint to write the Passkey to your browser profile, and the fingerprint will also be required for the next login.
For personal use, just choose a method you prefer to save the Passkey. After saving, you will be prompted that your account registration is successful.
3. Passkey multi-account operation
If you need to have multiple accounts and don't have any additional hardware devices, you can use the following method to save all your Passkeys in a password management tool.
Search Google for "Chrome App Store", then search for the "Bitwarden" plug-in in the store and download and install it.
Then open the plugin, register an account, and log in. If the registration in the plugin fails, you can go to their official website to register, and then log in to the plugin.
Search "bitwarden web vault" on Google to enter the official website account registration interface.
Then follow the previous steps, enter your username in Infinex, and register a new account using Passkey.
At this time, the Bitwarden plug-in will pop up a window asking if you want to save the Passkey to Bitwarden. Click "Save passkey as new login" to complete the save.
For subsequent logins, just use the Passkey in the Bitwarden plug-in to log in. You can save multiple Passkeys here, and no hardware equipment is required.
4. Bind email address
Next, you will be asked to fill in an email address to receive important notifications, such as withdrawal notifications. Of course, you can skip this for now.
5. Funds recovery settings
In order to prevent loss of funds, we need to set up identity verification before recharging.
For example, I have bound a Google account and added an EVM wallet address.
In the second step, you will be asked to add a wallet address. When the user restores the assets, Infinex will transfer your balance to this address.
Please note that once the wallet address is added, it cannot be modified. Please check it before adding it.
6. Fund recharge
The main interface functions of Infinex are shown in the figure below. We first need to click the "Recharge" button to recharge funds.
Currently, asset recharge of five public chains including Ethereum, Optimism, Arbitrum, Polygon and Solana is supported.
If there are no assets on these chains, you can first use a third-party cross-chain bridge to cross-chain to these 5 public chains, and then continue the operation.
For example, we can use the third-party cross-chain bridge Mini Bridge for cross-chain. Please search it yourself if you need it. We will not promote it in this event.
Here I choose to recharge Polygon's USDC to facilitate subsequent interactions.
After making your selection, an address and a QR code will appear. Simply open your wallet, exchange some USDC, and then transfer the USDC to this address through the Polygon chain.
Here Infinex provides the contract address. You may be prompted with risks when transferring money through your wallet, but you can ignore it.
Please note that USDC.e and USDC are different tokens.
7. Cross-chain funds
Click the “Bridge” button on the homepage to transfer the USDC just recharged from Polygon to Arbitrum, which will facilitate our subsequent swap interactions.
Here Infinex uses Wormhole's cross-chain service, which may be slower, but there is no transaction fee at all, so just wait patiently.
8. Funds Exchange
After ensuring that USDC has successfully crossed the chain to Arbitrum, go to the "Settings" in the lower left corner, find the "swaps" setting, and enable the swap function.
If there are no assets on Arbitrum, the swap function cannot be enabled.
After opening it, click "swap" on the homepage, select "Arbitrum" on the network, and exchange the USDC on Arbiturm for USDe. The exchange is also completely free.
After the redemption is completed, you will automatically receive Ethena's financial management income, with an annualized return of nearly 30%, as well as a financial management badge reward.
9. Card Games
Deposit more than 50U to start the card game. Users can get token cards every day and choose 5 cards to form a deck. If the tokens represented by the 5 cards you picked increase, then the points will increase, and if they fall, the points will decrease. Finally, the ranking is calculated based on the total points and rewards are distributed.
1 million Bulls points will be distributed to the top 1,000 users every day, and other additional rewards will be announced in advance.
Interested users can participate. The purpose of Bulls points is currently unknown. Detailed rules can be viewed by clicking the "LEARN" button in the "PLAY" interface.
10. Other operations
If you want to continue managing your finances, you can put USDe in it to earn returns.
If you don’t need it, you can also exchange the assets back to USDC and click the “withdraw” button to withdraw. The withdrawn assets will be sent to the wallet address you bound at the beginning, and there is no handling fee.
In addition, although Infinex's NFT sale has ended, it is still available for purchase in the NFT market.
Infinex currently uses this NFT as a governance token. If you are optimistic about it and have sufficient funds, you can also buy one. The current unit price is 0.86 ETH.
The NFT is currently available on Magic Eden, Blur, and OpenSea. If you need to purchase it, please go to these three NFT markets and search for "Infinex Patrons".
