Flare Network Releases CloudFunding Launchpad In Collaboration With Lena Instruments

Flare Network, the popular new blockchain said to be built for connecting everything and allows developers to dabble with various communities using a single deployment, has released CloudFunding Launchpad. Flare collaborated with Lena Instruments, a leading Swiss IT company which provided the high-end blockchain infrastructure required to make CloudFunding Launchpad in the first place.

Background of CloudFunding Launch

Flare Network wanted to create a launchpad that would usher a new dimension of crowdfunding. Now with CloudFunding Launchpad, contributors will receive not only exclusive access to meticulously chosen crypto projects but also reward them while retaining their principle investment.

Contrary to the current scenario followed when it comes to crowdfunding for crypto projects, contributors get to decide only the number of tokens allocated to support an initiative. But Flare’s CloudFunding Launchpad could change that as contributions in its case would originate from the rewards earned by contributor’s wrapped FLR/SGP capital.

CloudFunding Launchpad

The unique model of CloudFunding Launchpad is said to guarantee that contributors will never lose their principle investment. These aspects make it a low-risk and highly secure crowdfunding launchpad currently available in this space. Contributors are allowed to choose from 1% to 100% of the rewards (generated by their principle) to fund projects they wish to support by saving the original investment. When users contribute, they get access to an IOU of the project token which would be available prior the token generation event. The same token would be listed on various decentralized exchanges partners of Flare.

Benefits for projects launching on CloudFunding:

• They receive a regular cash flow expected at the end of each reward epoch. Projects can use it to pay bills, for ongoing developments.
• Projects can form a transparent bond with their communities knowing that each contributor retains custody of their initial investment.
• Various types of support including networking, legal advice, financial services, and smart contract audits would be provided.
• All projects will have guaranteed instant liquidity through partnerships with DEXs as their campaign concludes.

CloudFunding Campaigns will have two periods: one for raise and the other for yield.

During the raise period, interested participants of the communities will be asked to wrap or lock SGB/FLR tokens in a smart contract as a means to show support for the project. Once the raise period is successful, the campaigns will enter the yield period. In this phase, the rewards of the Target amount will be donated to the project after each Epoch.

The best thing about this is that projects would be at liberty to specify their Yield Period which could go on for 5 months (maximum). In the case of an unsuccessful Raise Period, projects would be unable to get CloudFunding and the principle rewards accrued so far will be returned to the participating community.

Conclusion

CloudFunding launchpad can set a new and almost perfect example of how devs can now benefit from decentralized data available in-built on Flare blockchain. Lena Instruments has also mentioned launching new products over the course of the next few months.