Flare Blockchain Secures $35 Million Investment from Kenetic Capital, Aves Lair and More
In Brief
In a recent private funding round, Flare successfully raised $35 million, attracting notable investments from Kenetic Capital, Aves Lair, and several other prominent backers.
Today, the layer-1 blockchain network Flare revealed that it has successfully raised $35 million in a private funding round, backed by investments from Kenetic Capital, Aves Lair, and various other significant players. funding As a dedicated layer-1 network focusing on data management, Flare aims to develop smart contract protocols and emphasizes pricing oracles, which are crucial for transmitting asset prices across numerous decentralized finance (DeFi) platforms.
To cultivate greater investor trust and effectively navigate market dynamics, the initial supporters of the project have willingly chosen to extend the token distribution timeline from 2024 to the first quarter of 2026. They've also implemented a selling cap of no more than 0.5% of the daily trading volume to ease market sell pressure.
"I am thrilled that Flare's initial investors have shown a renewed commitment to supporting our expanding ecosystem. Their additional investments into Flare will fuel the network's growth and vitality by ensuring liquidity for DeFi and funding projects being developed on Flare. Such agreements regarding liquidity are a tremendous advantage for our evolving ecosystem,\" remarked Hugo Philion, Flare's co-founder.
"At this much-anticipated final liquidity event, I wish to express my gratitude to our early supporters for their ongoing role as Flare's key advocates, solidifying a mutually beneficial relationship focused on fostering Flare's growth,\" Philion added.
In a strategic initiative to nurture ecosystem expansion, Flare disclosed in October its plan to burn 66 million tokens monthly until January 2026, which constitutes 2% of the total token supply.
Flare's earliest investors are making a long-term commitment to the network's future through a groundbreaking new agreement. tokens Besides prolonging token vesting periods and limiting sales, they will reinvest 50% of any token sales back into projects within the Flare ecosystem.
"We are deeply invested in Flare’s vision for securing data in the evolving landscape of Web3 and the promise of FAssets to enhance non-smart contract tokens. By restructuring our agreement and committing to significant investments in Flare’s economic infrastructure growth, we are optimistic that our initial investment will rapidly surpass our initial expectations,\" stated Jehan Chu, the founder of Kenetic.
Moreover, FLR saw a 13% boost following a blog post by BitMEX founder Arthur Hayes, who highlighted the increasing importance of on-chain oracles for price discovery in decentralized exchanges. Google Cloud Following the funding announcement, FLR experienced an additional increase of 3.05% in value, reinforcing the market's favorable response to Flare's strategic initiatives and partnerships.
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Kumar is a seasoned tech journalist specializing in the intricate intersections of AI/ML, marketing technology, and emerging areas like crypto, blockchain, and NFTs. With over three years of industry experience, Kumar has built a solid reputation for crafting engaging narratives, conducting insightful interviews, and delivering in-depth analyses. His expertise lies in producing high-impact content, including articles, reports, and research papers for leading industry platforms. With a distinctive skill set that merges technical insight and storytelling, Kumar excels in articulating complex tech concepts to a broad audience in a relatable and compelling way.
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