Legal Notice: Nothing on the website constitutes professional and/or financial advice. All the content on the website is for informational purposes only. We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented as is,” without warranty of any kind – whether expressed or implied. You acknowledge and agree that there are numerous risks associated with purchasing cryptocurrencies.

CDS Startups FARE Protocol Raises $6.2 Million Before Launching Its Token

Startups

FARE Protocol Raises $6.2 Million Before Launching Its Token

lectertodd02/05/20231 Mins read490

Fare Protocol Raises $6.2 Million Before Launching Its Token

In a seed round headed by Goat Capital, the company run by Twitch founder Justin Kan, and C Squared Ventures, FARE Protocol has raised $6.2 million.

Table of Contents

FARE Protocol Raises $6.2 Million Before Launching Its Token

The fund was raised ahead of the launch of the ecosystem and native token on the Ethereum layer 2 network Arbitrum later this year. In addition to Morningstar Ventures and Quantstamp, other investors in the round included 6th Man Ventures, Arrington Capital, Eniac Ventures, Spark Digital Capital, Morningstar, and DWeb3.

About FARE Protocol

Probability smart contracts, which are triggered by transparent on-chain events based on probability variables, are the foundation of the FARE ecosystem. Randomized minting and burning of the FARE token—also known as “winning” and “losing”—is the initial application for the contracts.

Similar to how a real-world casino runs, the system is set up so that the likelihood of losing or burning a token is larger than the likelihood of minting or winning one. Through token deflation, value is transferred to FARE holders rather than a central “house” receiving the profits.

References

www.coindesk.com

Previous post Total Number of Inscriptions Thru Bitcoin Ordinal Surpasses 2.5 Million

Poloniex Will Pay $7.59 Million To Resolve Claims Of Sanctions Violations

Next post Poloniex Will Pay $7.59 Million to Resolve Claims of Sanctions Violation

Written by

lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

You must be logged in to post a comment.