Linera is winding down after raising $12M and running its testnet for nearly two years.
According to the team, the LNRA community sale only pulled in about $848K, below the $1.5M minimum, so everyone got their money back.
Linera then tried to secure emergency funding to keep development moving toward mainnet, but couldn't raise enough.
Damn! That’s quite a lot to take in for people who spent months testing, running nodes, using apps and stacking points.
Linera says the points will remain on record, but there’s no guarantee they’ll ever translate into tokens or any other benefit.
The money was refunded. The time people spent wasn't.
Sometimes a project can have good technology, credible investors and years of development behind it, and still run out of runway before the market is willing to fund the next stage.
I think the community deserves more clarity on what the actual funding gap was, what changed during the emergency raise, and what the team plans to do with the technology from here.
According to the team, the LNRA community sale only pulled in about $848K, below the $1.5M minimum, so everyone got their money back.
Linera then tried to secure emergency funding to keep development moving toward mainnet, but couldn't raise enough.
Damn! That’s quite a lot to take in for people who spent months testing, running nodes, using apps and stacking points.
Linera says the points will remain on record, but there’s no guarantee they’ll ever translate into tokens or any other benefit.
The money was refunded. The time people spent wasn't.
Sometimes a project can have good technology, credible investors and years of development behind it, and still run out of runway before the market is willing to fund the next stage.
I think the community deserves more clarity on what the actual funding gap was, what changed during the emergency raise, and what the team plans to do with the technology from here.
