Flare (FLR), a layer-1 blockchain for data, has secured a round of funding from its early backers aimed at reducing immediate liquidity while boosting investment into the Flare ecosystem, according to a press release shared with Finbold on February 23.
The early investors in Flare, such as Kenetic and Aves Lair, have reaffirmed their confidence in the project by agreeing to extend token vesting periods, imposing limits on token sales, and helping develop various aspects of the Flare ecosystem.
Flare funding details
The funding signals a prolonged commitment from Flare’s already long-standing supporters and a desire to safeguard the community, foster future growth, and remove some pressures from the token’s ecosystem.
Hugo Philion, Co-founder of Flare, welcomed the continued support from early backers, stating:
“I am delighted that Flare’s early backers have demonstrated a strong recommitment of support for Flare’s growing ecosystem. Their further investment in
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