Infinex taps Wormhole to power cross-chain functionality following $65 million NFT raise

Infinex, a recently launched platform that aims to simplify the experience of using decentralized finance apps across multiple blockchains, has selected Wormhole W -3.09% as its primary multichain infrastructure provider. 

Infinex, founded by Synthetix creator Kain Warwick , provides a simplified front-end that aims to abstract away many of the complexities involved in using DeFi protocols across multiple blockchains, such as managing numerous wallets, paying gas fees, and utilizing cross-chain bridges. It boasts over $125 million in total value locked. 

"Infinex’s vision is to simplify decentralized finance by creating a seamless, multichain user experience and providing the safest way to get onchain,” said Warwick in a statement. "With Wormhole, we ensure that our users can effortlessly interact across multiple chains, driving the next phase of multichain DeFi innovation." 

According to a statement shared with The Block, the partnership marks "only the beginning of a deep, multifaceted collaboration," with more integrations in the pipeline and "additional features to be rolled out in the coming months." Wormhole's interoperability platform connects over 30 blockchains, while Infinex's platform currently supports six: Ethereum and its Layer 2 chains Polygon, Base, Optimism, and Arbitrum, plus Solana.

Infinex recently raised $65.3 million in a sale of "Patron NFTs," which sold 41,252 NFTs across four waves of sales to retail traders, VCs such as Solana Ventures and Breyer Capital, and notable individuals such as Solana founder Anatoly Yakovenko and Aave founder Stani Kulechov.

The Patron NFTs came in three tiers, costing $1,250, $3,000, and $5,000. The less expensive options took longer to unlock for trading, while the top tier was available to trade immediately. Other than the cost, the NFTs confer no special benefits to early or deep-pocketed supporters, in a model Warwick has argued is more fair than traditional investment structures.

"Together, we’re building a strong, scalable platform that allows users to navigate the multichain world with confidence and ease," said Robinson Burkey, co-founder of the Wormhole Foundation, in a statement.