- Flare Network and Lena Instruments announced the launch of CloudFunding.
- CloudFunding is a new concept developed for crowdfunding.
- The new concept allows contributors to gain exclusive access to carefully curated crypto projects.
Blockchain platform Flare Network has partnered with Lena Instruments, a Swiss blockchain software firm to bring new initiatives to the blockchain sector. Both companies have launched a new crowdfunding launchpad designed to create a new dimension to the CloudFunding concept.
In detail, contributors in CloudFunding will gain exclusive access to carefully curated crypto projects and unique benefits, while retaining custody of their principal investment. However, in the existing crypto launchpads, the contributors simply decide on the number of tokens they wish to allocate to support the initiative.
But, with CloudFunding, contributions come from the rewards earned by contributors’ wrapped FLR/SGB capital, a model that ensures contributors will always hold onto their principal investment.
Hugo Philion, CEO & Co-founder of Flare Network remarked that CloudFunding is an absolute instance of how developers can take advantage of the decentralized data infrastructure built natively into the Flare blockchain.
Also, the CEO added that CloudFunding creates a win-win situation by using the Flare Time Series Oracle as the mechanism for contributing to exciting new projects.
Flare obtains another FTSO provider highly incentivized to provide accurate price data to the network; 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.
Specifically, the projects launching on CloudFunding will receive a regular cash flow that comes in at the end of each reward epoch, and for the entire duration of their community’s contribution. These projects can use the cash flow to pay their bills, fund development, market themselves, and create long-term business plans while keeping their communities up to date on their progress, deliverables, and milestones.
Moreover, CloudFunding supports community forums, networking, legal advice, smart contract audits, and other financial services through Lena Instruments’ experts. The Flare team believes that CloudFunding provides one of the most secure and low-risk crowdfunding mechanisms in the crypto industry. Contributors can dedicate anything from 1% to 100% of the rewards their principal generates to fund the projects they believe in while retaining their original investment.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
