Flare Network and Lena Instruments introduce a unique blockchain-based crowdfunding launch platform
Flare Network announced today, August 30, that it has launched an innovative crowdfunding launch platform in partnership with Swiss blockchain software and infrastructure company Lena Instruments.
Through CloudFunding, which is a launch platform that aims to introduce a new dimension to the concept of crowdfunding, contributors to the platform are given exclusive access to carefully controlled crypto projects as well as other unique incentives, all while maintaining custody of their initial investments, according to a press release shared with Finbold.
Currently, in cryptocurrency launchpads, contributors decide how many tokens they intend to use for their stake. Instead, donations to CloudFunding come from the incentives received by participants’ wrapped FLR/SGB capital; this method ensures that contributors will always retain their primary investment.
Hugo Philion, CEO and co-founder of Flare, stated:
“CloudFunding is a perfect example of how developers can take advantage of the decentralized data infrastructure built into the Flare blockchain. By using the Flare Time Series Oracle as the mechanism to contribute to exciting new projects, CloudFunding creates a win-win-win- situation.”
Philion added:
“Flare Network recognizes the value of CloudFunding technology in the blockchain space, and is grateful and pleased that Lena Instruments has chosen Flare and Songbird to build its CloudFunding platform.”
Contributor Allocations
In addition, using the launchpad, contributors can allocate 1% to 100% of the benefits generated by their primary financial initiatives, while retaining their original investment in a safe and low-risk crowdfunding process in the crypto sector.
Users will receive an IOU of the project’s token in exchange for their contribution, which will be listed by a number of Flare’s decentralized exchange (DEX) partners prior to the token creation event. These IOUs can then be freely transferred without waiting to distribute the project’s original token.
The main advantage for projects starting on CloudFunding is that they receive a consistent cash flow at the end of each award cycle and throughout the community’s engagement.
All while keeping their communities informed of their progress, deliverables and milestones, CloudFunded projects will have a method to pay their bills, finance development, market themselves and construct a long-term business strategy with this funding.
Launchpad enables support for “best possible projects”
Regarding the launch pad, Laura Moreby, Chief Communications Officer and Spokesperson for Lena Instruments stated:
“CloudFunding is a modern, decentralized launch pad that will allow the community to support the best possible projects within the ecosystem, after being carefully curated by the platform. Contributors can, without having to sell their FLR or SGB, stay updated with developments, deliveries and milestones made possible by their contributions.”
Finally, users will have the security of knowing that they will maintain custody of their original principal throughout the process, allowing contributors to develop a stronger level of trust among their communities.
