Infinex, the crypto superapp aiming to blend the ease of centralized exchanges with the power of DeFi, just dropped some exciting news via a tweet from their official account. Kain Warwick, the founder, appeared on The Rollup podcast to spill the details: there's no traditional airdrop for their upcoming INX token, but instead, users can snag vouchers through a revamped Craterun campaign to buy INX at starting fully diluted valuations (FDV) as low as $1 million. Yeah, you read that right—not a typo.

If you're new to the term, FDV is basically the total value of a token if all supply were circulating at the current price. Starting at $1M FDV means early buyers could get in at a bargain, potentially seeing massive upside if the project takes off, much like those viral meme token launches that skyrocket from tiny valuations.

The tweet links to the full announcement on Infinex's blog, where they outline Craterun as a month-long event kicking off December 1, 2025. It's designed to pull users away from clunky wallets and into Infinex's sleek interface, with over $2.5 million in prizes up for grabs. Think cash, rare NFTs, and those coveted INX vouchers.

Why No Airdrop? A Smarter Play for User Engagement

Kain explained in the clip that airdrops often attract farmers who dump tokens without sticking around. Instead, Craterun rewards genuine activity. You'll earn "crates"—like digital loot boxes—by trading on Infinex Perps (their perpetual futures platform), importing your trading history from other DEXs like Hyperliquid or Synthetix, or even connecting your Crypto Twitter (CT) account if you're in the top ranks.

These crates could contain vouchers letting you purchase INX at FDVs ranging from $1M up to $500M. The lower ones go out first, so early birds get the best deals. Up to 10% of the total INX supply is earmarked for this, making it a big chunk for community distribution. After Craterun, there's a Sonar sale for broader access, leading into the token generation event (TGE) likely in late December or early January.

How to Jump In and Maximize Your Crates

Getting started is straightforward, even if you're not a DeFi pro:

• Trade on Infinex Perps: Every trade earns progress toward crates, which you can open right away. Plus, enjoy 60% cashback on Hyperliquid builder fees—claim it instantly.
• Import Your Wallet History: If you've traded perps on supported platforms, import your wallet to score bonus crates based on your volume and fees paid. It's retroactive, so past activity counts.
• CT Mafia Boost: Link your X account. If it's ranked in the top 5,000 on CT and your wallet qualifies (like having paid at least 1 ETH in fees or holding $10K+ TVL), you could get up to 100 extra crates.
• Retro Rewards for OGs: Early Infinex users, XGP holders, or top players from the previous Bullrun event get crates based on deposits, swaps, and trades.

Prizes escalate with community milestones. Hit $10B in total perps volume, and someone wins $1M cash. Smaller draws happen at $1B, $3B, $5B, and $8B for NFTs like Pudgy Penguins or CryptoPunks. Weekly, there's $50K USDC, Patron NFTs, and $10K cash drops.

What This Means for Meme Token Fans and Beyond

While INX isn't a pure meme token, this low-FDV voucher system echoes the hype around meme coin launches—think fair distributions, community-driven growth, and that thrill of getting in early. Infinex is betting big on user experience, bundling buying, swapping, bridging, and perps into one app that feels as smooth as a CEX but keeps everything on-chain.

They're also rolling out a browser extension and wallet import features on November 30, just before Craterun blasts off. If you're into DeFi or hunting the next big token play, this could be worth your time. Head over to Infinex to set up an account and follow @infinex on X for updates.

For the original scoop, check out the tweet thread here. Who knows—your next crate might hold that golden $1M FDV ticket.