This Altcoin in Partnership with Google Received a Million Dollar Investment, Its Price Increased!

A layer-1 network for building applications that consume data from other chains and the Internet. Flare Network In his post on his X account, he said that he collected 35 million dollars in a special tour.

Among these investors, he was among the first investors of the project. Kenetic, Aves Lair He stated that there are companies such as

The official statement made the following statements:

“Today, we are announcing an agreement with a group of Flare’s early backers that will reduce excess FLR liquidity, increase capital inflow into Flare DeFi protocols, and provide new investment in Flare ecosystem projects.

Some names, including Hong Kong and US-based Kenetic, which were among Flare’s early investors, and New York-based Aves Lair, have become the leading Blockchain for Data by extending the vesting deadline, limiting token sales, and committing significant new capital to invest across the Flare ecosystem. “They doubled their investment in Flare, their chain.”

Also, investors FLR It was stated that they voluntarily extended the token vesting periods from 2024 to the 1st quarter of 2026 and agreed to limit token sales to a maximum of 0.5% of the 30-day average daily volume.

At this point, it was stated that investors have committed to reinvesting at least 50% of the revenue from all token sales in Flare ecosystem projects in the next two years.

At this point, it was stated that according to the current market valuation, the potential reinvestment into the Flare ecosystem has reached $35 million.

Rising after this announcement FLRincreased its gains to 12% in the last 24 hours.

Flare’s earliest investors have reinvested in the long term future of the network in a groundbreaking new agreement.

In addition to extending token vesting and capping sales, they will reinvest 50% of any token sales back into Flare ecosystem projects. https://t.co/7fGTqmjju9 pic.twitter.com/nxhYr9ZnMT

— Flare ☀️ (@FlareNetworks) February 23, 2024

*This is not investment advice.