Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Layer-1 blockchain Flare has raised $35 million in a private round that included investment from Kenetic, Aves Lair and others, according to a press release.
Dubbed a layer-1 network for data, Flare supports the creation of smart contract protocols and focuses on pricing oracles, which relay asset prices to and from various decentralized finance applications. Early investors in the project have voluntarily agreed to extend token distribution from 2024 to the first quarter of 2026. A selling limit of 0.5% of daily trade volume has also been imposed to reduce market sell pressure.At this final anticipated liquidity event, I am very grateful to our early backers for continuing to be Flare’s biggest proponents and codifying a supportive, objective relationship aligned and beneficial to Flare’s growth.
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