Flare Network has partnered with Lena Instruments to implement a crowd funding mechanism that drops the risks associated with startup investing.
Lena Instruments announced what it called a CloudFunding launchpad, which enables Flare investors assign a percentage of the rewards that they earned to investments in new crypto startups without moving their initial investments.
Apart from providing a low-risk investing solution for its contributors, the platform also aims to help projects that have launched on the platform have regular cash flows during the reward distribution periods.
Hugo Philion, the CEO of Flare Network, believes that the new mechanism is a good way for developers to get early access to community funding .In July, decentralized exchange Pangolin made its debut on the Flare blockchain, creating new cross-chain token pairs and boosting the liquidity of the network.
The DEX allows Flare-based decentralized applications to add a direct token swaps feature to their projects.Laura Moreby, an executive at Lena Instruments, said that their firm, which is a major Flare holder, will continue to offer its support to the project.
