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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.

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