{"id":2826,"date":"2024-03-07T07:35:22","date_gmt":"2024-03-07T07:35:22","guid":{"rendered":"https:\/\/cryptofunding.vc\/?p=2826"},"modified":"2024-03-07T07:35:23","modified_gmt":"2024-03-07T07:35:23","slug":"layer-1-network-flare-secures-35m-funding-from-kenetic-and-aves-lair","status":"publish","type":"post","link":"https:\/\/cryptofunding.vc\/layer-1-network-flare-secures-35m-funding-from-kenetic-and-aves-lair\/","title":{"rendered":"Layer-1 Network Flare Secures $35M Funding from Kenetic and Aves Lair"},"content":{"rendered":"\n
Flare, a pioneering layer-1 blockchain, has confidently secured a remarkable $35 million in a private funding round, with notable contributions from Kenetic, Aves Lair, and other key investors, as per an official press release.<\/p>\n\n\n\n
Positioned as a pivotal layer-1 network for data, Flare stands as a formidable supporter of smart contract protocols, with a distinct emphasis on pricing oracles. These oracles play a crucial role in relaying asset prices across various decentralized finance (DeFi) applications.<\/p>\n\n\n\n
In a display of unwavering confidence in the project’s trajectory, early investors have unanimously agreed to extend the token distribution timeline from 2024 to the first quarter of 2026. Furthermore, a prudent selling limit of 0.5% of the daily trade volume has been enforced, aimed at mitigating market sell pressure effectively.<\/p>\n\n\n\n
Expressing his appreciation for this pivotal moment, Flare co-founder Hugo Philion remarked, “Agreements fostering liquidity are instrumental for an evolving ecosystem. At this significant juncture, I extend my heartfelt gratitude to our early supporters for their steadfast advocacy of Flare, solidifying a supportive and mutually beneficial relationship integral to Flare’s continued growth.”<\/p>\n\n\n\n
Building upon its commitment to fostering a robust ecosystem, Flare previously announced a strategic liquidity measure in October, involving the burning of 66 million tokens per month until January 2026, equivalent to 2% of the token’s total supply. This proactive step underscores Flare’s dedication to enhancing ecosystem development and overall vitality.<\/p>\n\n\n\n
This impressive fundraising feat follows closely on the heels of the landmark announcement that Google Cloud has joined Flare’s network as a validator, a development that catalyzed a notable 5% surge in its native token (FLR) last month.<\/p>\n\n\n\n
Fueling further optimism, FLR experienced a substantial 13% surge in value on Friday, buoyed by a compelling blog post authored by BitMEX founder Arthur Hayes. Hayes underscored the burgeoning significance of decentralized exchanges in price discovery, emphasizing the pivotal role of on-chain oracles. In this context, he highlighted Flare as a standout project poised for exponential growth.<\/p>\n\n\n\n
Bolstered by a wave of positive developments, FLR soared by an additional 3.05% following the announcement of this monumental fundraising achievement, signaling robust investor confidence in Flare’s future prospects.<\/p>\n","protected":false},"excerpt":{"rendered":"
Flare, a pioneering layer-1 blockchain, has confidently secured a remarkable $35 million in a private funding round, with notable contributions from Kenetic, […]<\/p>\n","protected":false},"author":3,"featured_media":2827,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,25],"tags":[],"class_list":["post-2826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding-round","category-news"],"yoast_head":"\n