Flare Network, Lena Instruments partner to launch crowdfunding mechanism

Lena Instruments, and Flare Network have partnered to build a crowdfunding system that reduces the risks involved in investing in startups and allows investors to allocate a portion of their rewards into funding startups.
Flare Network, Lena Instruments partner to launch crowdfunding mechanism
Flare Network, Lena Instruments partner to launch crowdfunding mechanism

Lena Instruments unveiled a “CloudFunding” launchpad that enables Flare network investors to invest a portion of their earned returns in fresh cryptocurrency businesses without relocating their starting capital.

In addition to offering donors a low-risk investing option, the platform wants to ensure that projects that have been launched there have consistent cash flows during the times when rewards are distributed.

The new system, in the opinion of Hugo Philion, CEO of Flare Network, is a smart way for developers to have early access to community funding. He argued that this results in a situation where everyone benefits. He stated:

“New projects get early access to community funding and support, and Flare token holders get the opportunity to join new exciting projects with zero risk to their principal.” 

Decentralized exchange (DEX) Pangolin debuted on the Flare blockchain in July, generating new cross-chain token pairs and increasing the network’s liquidity. Direct token swaps are a feature that Flare-based decentralized apps (DApps) can add to their applications with the use of the DEX.

Due to its built-in features, Web3 is known as an excellent tool to help content creators with their financial problems. Mehmet Erylmaz, the CEO of Faro Company, stated that Web3 is a wonderful alternative to traditional gatekeeping and frees content providers from it in a recent interview with Cointelegraph.

Lena Instruments, a significant flare holder, will continue to support the initiative, according to executive Laura Moreby. Having been carefully selected by the platform, “CloudFunding is a modern, decentralized launchpad that will allow the community to support the finest potential initiatives inside the ecosystem,” Moreby stated.