Linera has ceased operations immediately after its token sale failed to reach the minimum funding threshold. Founder Mathieu Baudet confirmed that the public sale on the Sonar platform secured approximately $900,000 in commitments but did not meet the required target, triggering full refunds to all participants.
The project's LNRA community round had previously gathered 848,300 USDC against a 1.5 million USDC minimum goal. Despite attempts to secure emergency funding to sustain operations until mainnet launch, the team was unable to raise sufficient capital, resulting in the permanent closure of the blockchain infrastructure project.
Linera Shuts Down After Token Sale Falls Short, Refunds All Subscribers
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
