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21 June 2021

Flare Raises $11.3M To “Unleash the Value” Inherent in Payment Chains 

Flare Raises $11.3M To “Unleash the Value” Inherent in Payment Chains 

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“The investment announced today demonstrates a belief in Flare’s potential to unleash the value and unlock the community in chains that do not have native smart contracts” said Flare CEO Hugo Philion.  “Flare’s goal is to bring additional utility to all chains and ecosystems that are integrated with it.

Flare enables additional utility for tokens via its smart contracts, with the native FLR token functioning as collateral for the trustless issuance of assets from payment chains that do not have smart contracts.

Further token distribution is made automatically through a daily distribution to participants that hold trustlessly issued assets on Flare that originate from the integrated underlying chains.

We will be submitting a governance proposal at the earliest opportunity to integrate the Algorand network and its native assets with Flare.

The platform’s native token Spark (FLR) enables Flare to unleash the tremendous value and community created by existing tokens that do not currently have native smart contracts

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