Flare Completes $35 Million Private Funding, with Kenetic and Others Joining

According to BlockBeats, according to CoinDesk, L1 blockchain Flare has completed a $35 million private placement financing, with participation from Kenetic, Aves Lair and others. Flare supports the creation of smart contract protocols and focuses on pricing oracles to transmit asset prices to various decentralized finance (DeFi) applications. Early investors in the project voluntarily agreed to extend the token distribution time from 2024 to the first quarter of 2026. In addition, a sell limit of 0.5% of daily trading volume was implemented to reduce selling pressure in the market.