A large part of the money raised from token sales will be put back into the FLR ecosystem to help it grow. This move demonstrates a collective dedication to its development.
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Thanks to the commitment of early investors to extended vesting, restricted token sales, and reinvesting half of the funds, the FLR price has surged by 19%.
Early Investors Strengthen Commitment to Flare Ecosystem
In a recent blog post detailing the tokenomics for Flare, the ecosystem’s developers announced significant backing from early investors like Kenetic and Aves Lair. These investors have pledged to enhance their dedication to the blockchain by implementing various strategies.
As part of this commitment, these investors have agreed to extend the token vesting period beyond its original end date in 2024. Instead, they will now vest their tokens until the first quarter of 2026.
Additionally, a new agreement has been established to limit token sales to only 0.5% of the 30-day daily average volume. This restriction aims to minimize market volatility and prevent excessive liquidity of FLR tokens.
Early Backers Reinforce Commitment to Flare Ecosystem Growth
Early investors in Flare have agreed to reinvest half of the money earned from selling tokens over the next two years to help Flare grow. This commitment, which is worth about $35 million, shows that everyone involved wants to support the ecosystem for the long term.
Flare is teaming up with Kenetic to make decentralized finance (DeFi) even better. This partnership is all about finding new and innovative ways to use blockchain technology.
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Even though early investors will still get 2% of the tokens, there are some big changes happening. They’ll get fewer tokens upfront, and they’ll have to wait longer to get them. This shows that the founders and investors are on the same page about where Flare is headed.
Also Read: Nearly Half of Big Crypto Giveaways Peak in 14 Days: CoinGecko
Flare, which started in 2020, is a blockchain platform that can work with other blockchains like the XRP Ledger. It can also do smart contracts, which are like self-executing contracts on the blockchain.
Since the news came out, the price of Flare’s token, FLR, has gone up by about 19%. Right now, it’s trading at $0.046.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
