L1 blockchain Flare completes US$35 million in private financing, with participation from Kenetic and others

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Cointime2024/02/23 15:34

By:Cointime

L1 blockchain Flare completed a $35 million private placement financing with participation from Kenetic, Aves Lair, and others, as reported by CoinDesk.

It is reported that Flare supports the creation of smart contract protocols and focuses on price oracles, transmitting asset prices to various decentralized financial (DeFi) applications.

Early investors in the project voluntarily agreed to extend the token distribution time from 2024 to the first quarter of 2026. In addition, a 0.5% daily trading volume sell limit has been implemented to reduce selling pressure on the market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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