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To raise 1.2 billion yen in investment rounds involving Flare Network (FLR), DCG, etc.

Cryptocurrency

Flare Network Financing

The smart coin tract platform Flare Network (FLR) announced that it has raised more than 1.2 billion yen ($ 11.3 million) in the investment round.

Industry-related companies such as DCG, the largest crypto asset (virtual currency) investment company in the United States, blockchain VC Kenetic Capital in Hong Kong, and Coinfund participated in the investment.

Flare Network is a project funded by Ripple’s investment division Xpring, and aims to be a safe and highly scalable network by implementing smart contract functions on various blockchains such as XRP. The mainnet was scheduled to launch at the end of June, but he said it could be delayed.

Regarding the future of Flare Network, Kenetic Capital’s managing partner Jehan Chu said that by implementing smart contract functions such as XRP (Ripple) and DOGE (Dogecoin), more utilities will be provided in the DeFi and NFT areas. I evaluated that it would be possible to obtain it.

Flare Network announced that it will be able to immediately support Ripple (XRP), Litecoin (LTC), Stellar Lumen (XLM) and Dogecoin (DODE) on the network and issue F-Assets (wrapping tokens) at the time of mainnet launch. In the future, it is said that it will be possible to additionally support more blockchains by making a governance decision for FLR token holders.

Flare Network airdrop

Once the Flare Network mainnet is launched, it plans to sequentially distribute snapshotd native currency Spark Tokens (FLR) to XRP (Ripple) holders in December 2008.

Regarding airdrop, major overseas exchanges such as Binance and Coinbase have announced their response, and 12 companies in Japan have adopted a joint statement regarding the granting of Spark tokens. In the statement, “If the Spark token is approved for listing by the Japan Cryptocurrency Trading Association (JVCEA) and the Financial Services Agency by June 12, 2010, the domestic business operator will request the Spark token and notify the XRP holder. It will be distributed. “

Relation: Granting Spark tokens to “Flare Networks” XRP holders, list of crypto exchange support and official FAQ information

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Author: Lewis Kikutani
Reference: Decrypt, The Block

Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”

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