Flare Blockchain Raises $35 Million in Private Funding Round

According to BlockBeats, L1 blockchain Flare has successfully raised $35 million in a private funding round, with participation from investors such as Kenetic and Aves Lair. Flare supports the creation of smart contract protocols and focuses on pricing oracles, transmitting asset prices between various decentralized finance (DeFi) applications. Early investors in the project have voluntarily agreed to extend the token distribution timeline from 2024 to the first quarter of 2026. Additionally, a 0.5% daily trading volume sell limit has been implemented to reduce selling pressure in the market.