Flare’s early investors, including Hong Kong and US-based Kenetic, New York-based Aves Lair, and others, have extended token vesting, restricted token sales, and invested heavily in Flare as a whole. By injecting new funds, we doubled our flagship Blockchain for Data. Ecosystem.
This landmark agreement between investors and Flare leadership marks a new agreement by long-term supporters of Flare aimed at protecting the Flare community, investing in future development, and limiting pressure on the token ecosystem. It shows partnership and expanded commitment.
said Jehan Chu, founder of Kenetic. “We wholeheartedly believe in Flare’s vision for data protection in the Web3 era and the potential of FAssets to power non-smart contract tokens. With this agreement, we are confident that our initial investment will grow exponentially beyond our initial expectations.”
Flare co-founder Hugo Philion added: “We are pleased that Flare’s early backers have shown strong renewed support for Flare’s growing ecosystem.Further investments in the Flare ecosystem will provide liquidity for DeFi and strengthen Flare. Contribute to the growth and prosperity of the network by providing investment in underlying projects. Liquidity agreements are great for a growing ecosystem. In this last expected liquidity event , I remain Flair’s biggest supporter and am extremely grateful to our early supporters for codifying a collaborative and objective relationship that has been beneficial to Flair’s growth.”
Specifically, Flare’s initial group of investors signed the following binding agreement:
- Extended token vesting: Backers will receive the same amount of FLR as before. This is 2,107,867,284.31 FLR and in February 2024, 813,870,745.01 FLR will be distributed. Early investors voluntarily extended their distribution from his 2024 to his 1st quarter of 2026, easing market pressure and encouraging long-term network participation and collaboration.
- FLR Sales Restrictions: Early investors are encouraged to provide clarity and reduce market volatility by limiting sales limits for FLR sales to no more than 0.5% of sales volume per day (based on sales volume over the past 30 days) I tried to.
- FLR Ecosystem Reinvestment: 50% of all investor proceeds from FLR sold through January 2026 will be reinvested into the Flare ecosystem across applications, defi, TVL and liquidity provision, powering our most important value generation mechanisms. Masu. At current market valuations, this investment in Flare’s ecosystem is worth $35 million to the Flare Ecosystem project.
- Accountability: The investor group agreed to full programmatic oversight and accountability for compliance with the mission and commitments.
Early investors will receive a total of 2% of the originally agreed Flare token supply. These new terms mean a 68% reduction in upfront distributions and a significantly longer vesting period, and reflect how founders will work with investors to responsibly support Flare Network’s innovative vision. It demonstrates to the community of builders and token holders what can be done. .
50% of the proceeds from the token sale will be reinvested to support various Flare ecosystem projects including:
- financing protocol
- Perpetual decentralized exchange
- decentralized exchange
- Automated market maker protocol
- Composite assets
- cross chain bridge
- Minting a native stablecoin
This new deal is separate from Flair’s FLR 2.1 billion negotiated burn announced in October 2023.
For more information, please visit the Flare website: https://flare.network/backer-agreement-tokenomics/
About flare
Flare is a blockchain for data. The EVM smart contract platform is specifically designed for the intensive data demands of next-generation blockchain applications, including machine learning/AI, RWA tokenization, gaming, and social.
With decentralized oracles built into its network, Flare is the only smart contract platform optimized for decentralized data retrieval, including price and time series data, blockchain event and state data, and Web2 API data.
Flare expands the utility of blockchain by providing developers with trustless access to the widest range of data and data proofs at scale and at minimal cost, with new and improved Support use case development.
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nick campion
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