Flare Secures $35M, Extends Token Distribution, Eyes Growth

Flare Secures $35M, Extends Token Distribution, Eyes Growth

Feb 23 Tech Standard

Layer-1 blockchain Flare has secured $35 million in a private round, fueled by growing interest in its data-driven smart contract platform. This follows a wave of positive developments, including the addition of Google Cloud as a validator and bullish comments from BitMEX founder Arthur Hayes.

To ensure long-term stability, early investors agreed to extend token distribution from 2024 to 2026, while limiting daily sales to 0.5% of total volume. This creates a gradual release and reduces market pressure.

Flare's focus on pricing oracles, which link real-world data to DeFi applications, has attracted significant interest. Hayes' statement highlights the increasing importance of reliable oracles for decentralized exchanges.

This raise and recent developments position Flare for continued growth. Its focus on data connectivity and commitment to controlled liquidity bode well for its future in the evolving blockchain landscape.


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