Linera has begun winding down its operations after a token sale attracted nearly $900,000 in commitments but failed to meet the minimum funding threshold.
Summary
- Linera refunded all funds committed through its token sale on Sonar.
- Emergency financing efforts failed to secure enough money to continue development.
- The team will gradually close its applications and Discord community.
- RootData estimates that Linera previously raised $12 million from investors, including a16z Crypto.
Linera token sale falls below minimum threshold
Linera team members said on Discord that the project’s token sale on Sonar received close to $900,000 in commitments from…
