Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Flare reached an agreement with early investors, promising to invest at least 50% of token sales proceeds in its ecological projects over the next tw

Flare reached an agreement with early investors, promising to invest at least 50% of token sales proceeds in its ecological projects over the next tw

CointimeCointime2024/02/24 08:24
By:Cointime

According to official sources, Flare has announced an agreement with some early supporters (including Kenetic, Aves Lair, and other organizations) to reduce the surplus liquidity of FLR, increase capital inflows to the Flare DeFi protocol, and bring new investment funds to the Flare ecosystem projects. These supporters have voluntarily extended the token ownership period from 2024 to the first quarter of 2026 and agreed to limit token sales to within 0.5% of the daily trading volume for 30 days. In order to support the continued growth of the ecosystem and provide additional incentives for builders, these supporters have also pledged to reinvest at least 50% of all token sales revenue into Flare ecosystem projects over the next two years. Based on current market valuations, potential reinvestment in the ecosystem could reach $35 million.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Pepe’s market cap briefly tops $10 billion on back of 77% price surge

The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.

The Block2024/11/14 04:00

ETH killers are still no closer to doing the deed

Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times

Blockworks2024/11/14 03:44

Bitcoin at $100k very possible before EOY, analysts say

The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks

Blockworks2024/11/14 03:44

FBI raids Polymarket founder's home

Cointime2024/11/14 03:33