š° Linera didnāt make it to a mainnet launchāit first received a shutdown notice.
The LNRA community round that began on September 1 was a public offering with a price of $0.16, corresponding to a $160 million FDVāaimed at early participants. In the end, only 617 people from 69 countries and regions pledged to subscribe, with a total amount of about $848,000āfar short of the $1.5 million mark.
š„ On September 19, the founder Mathieu Baudet announced on Discord that all subscription funds had been refunded and that the project would immediately stop operating. Before that, the team had tried to raise emergency funding in an effort to keep going until the mainnet launch, but they still couldnāt make it.
Honestly, the hardest hit might not be investors, but the users who spent years completing tasks. They didnāt miss a thing: testnet interactions, badges, weekly meetings, Discord roles. Some users said they participated for three years,ęå „ 40,000 to 80,000 MGS, posted more than 100 pieces of content, and took part in 69 eventsāonly to end up with zero returns, not even waiting for the airdrop eligibility check.
š” Linera once had a team of former Meta researchers, consecutive investment from a16z, and raised about $12 millionāat one point it was even grouped with Aptos and Sui as the āMove Three Heroes.ā But all these accolades ultimately couldnāt turn into a mainnet or sustained revenue for the project. Points will be kept on record, but the team canāt promise that they can be exchanged for any future benefits.
More and more public chains are emerging, yet users and capital wonāt grow indefinitely. Relying only on funding, expectations of airdrops, and short-term incentives can push a project forward for a whileābut once the money runs out, the key question remains: what exactly will keep it alive?
š¤ Have you ever participated in Lineraās tasks before? If so, after years of investment ends up at zero, would you still put your trust in projects like this?
#Linera #LNRA #å ¬é¾ #å åÆåøåŗ
The LNRA community round that began on September 1 was a public offering with a price of $0.16, corresponding to a $160 million FDVāaimed at early participants. In the end, only 617 people from 69 countries and regions pledged to subscribe, with a total amount of about $848,000āfar short of the $1.5 million mark.
š„ On September 19, the founder Mathieu Baudet announced on Discord that all subscription funds had been refunded and that the project would immediately stop operating. Before that, the team had tried to raise emergency funding in an effort to keep going until the mainnet launch, but they still couldnāt make it.
Honestly, the hardest hit might not be investors, but the users who spent years completing tasks. They didnāt miss a thing: testnet interactions, badges, weekly meetings, Discord roles. Some users said they participated for three years,ęå „ 40,000 to 80,000 MGS, posted more than 100 pieces of content, and took part in 69 eventsāonly to end up with zero returns, not even waiting for the airdrop eligibility check.
š” Linera once had a team of former Meta researchers, consecutive investment from a16z, and raised about $12 millionāat one point it was even grouped with Aptos and Sui as the āMove Three Heroes.ā But all these accolades ultimately couldnāt turn into a mainnet or sustained revenue for the project. Points will be kept on record, but the team canāt promise that they can be exchanged for any future benefits.
More and more public chains are emerging, yet users and capital wonāt grow indefinitely. Relying only on funding, expectations of airdrops, and short-term incentives can push a project forward for a whileābut once the money runs out, the key question remains: what exactly will keep it alive?
š¤ Have you ever participated in Lineraās tasks before? If so, after years of investment ends up at zero, would you still put your trust in projects like this?
#Linera #LNRA #å ¬é¾ #å åÆåøåŗ
