Interoperability-focused blockchain Flare Network has partnered with software infrastructure firm Lena Instruments to apply a crowdfunding mechanism that lowers the potential risks connected with startup investing.
Lena Instruments announced what it really known as a “CloudFunding” launchpad, which lets Flare investors allocate a portion from the rewards they earned to investments in new crypto startups without moving their initial investments.
Aside from supplying a minimal-risk investing solution because of its contributors, the woking platform also aims to assist projects which have launched around the platform have regular cash flows throughout the reward distribution periods.
Hugo Philion, the Chief executive officer of Flare Network, believes the new mechanism is a great method for developers to obtain early use of community funding. He described this results in a “win-win situation” for everyone concerned. He stated:
“New projects get early use of community funding and support, and Flare token holders obtain the chance to participate new exciting projects with zero risk for their principal.”
In This summer, decentralized exchange (DEX) Pangolin made its debut around the Flare blockchain, creating new mix-chain token pairs and boosting the liquidity from the network. The DEX enables Flare-based decentralized applications (DApps) to include an immediate token swaps feature for their projects.
Related: Why interoperability is paramount to blockchain technology’s mass adoption
Meanwhile, Web3 is known as a terrific way to solve your budget woes of content creators because of its natural functions. Inside a previous interview with Cointelegraph, Mehmet Eryılmaz, the Chief executive officer of Faro Company stated that Web3 frees content creators from traditional gatekeeping and is a superb alternative for crowdfunding entertainment projects.
Laura Moreby, a professional at Lena Instruments, stated their firm, that is a major Flare holder, continuously offer its support towards the project. “CloudFunding is really a modern, decentralized launchpad that will permit the city to aid the perfect projects inside the ecosystem, getting been carefully curated through the platform,” Moreby stated.
