Flare Network and Lena Instruments Launch New Crowdfunding Mechanism
The mechanism allows investors to allocate a portion of the rewards they have earned to fund startups.
New
Interoperability-focused blockchain Flare Network has partnered with software infrastructure company Lena Instruments to implement a crowdfunding mechanism that reduces the risks associated with investing in startups.
Lena Instruments announced what it called a "CloudFunding" launch pad, which allows Flare investors to allocate a percentage of the rewards they've earned towards investments in new crypto startups without moving their initial investments.
In addition to providing a low-risk investment solution for its contributors, the platform also aims to help projects that have been launched on the platform to have steady cash flow during reward distribution periods.< /p>
Hugo Philion, CEO of Flare Network, believes the new mechanism is a good way for developers to quickly access community funding. He explained that this creates a "win-win situation" for all parties involved. He said:
"New projects enjoy early access to funding and community support, and Flare token holders have the opportunity to join exciting new projects at no risk to their principal."
In July, the decentralized exchange (DEX) Pangolin debuted on the Flare blockchain, creating new cross-chain token pairs and increasing network liquidity. The DEX allows Flare-based decentralized applications (DApps) to add direct token exchange functionality to their projects.
Related: Why interoperability is the key...
The mechanism allows investors to allocate a portion of the rewards they have earned to fund startups.
New
Interoperability-focused blockchain Flare Network has partnered with software infrastructure company Lena Instruments to implement a crowdfunding mechanism that reduces the risks associated with investing in startups.
Lena Instruments announced what it called a "CloudFunding" launch pad, which allows Flare investors to allocate a percentage of the rewards they've earned towards investments in new crypto startups without moving their initial investments.
In addition to providing a low-risk investment solution for its contributors, the platform also aims to help projects that have been launched on the platform to have steady cash flow during reward distribution periods.< /p>
Hugo Philion, CEO of Flare Network, believes the new mechanism is a good way for developers to quickly access community funding. He explained that this creates a "win-win situation" for all parties involved. He said:
"New projects enjoy early access to funding and community support, and Flare token holders have the opportunity to join exciting new projects at no risk to their principal."
In July, the decentralized exchange (DEX) Pangolin debuted on the Flare blockchain, creating new cross-chain token pairs and increasing network liquidity. The DEX allows Flare-based decentralized applications (DApps) to add direct token exchange functionality to their projects.
Related: Why interoperability is the key...
What's Your Reaction?
