ZURICH, Aug. 30, 2022 (GLOBE NEWSWIRE) — Lena Instruments, announces the launch of a crowdfunding launchpad with Flare Network, a blockchain that aims to connect everything. The new launchpad, CloudFunding®, brings a new dimension to the concept of crowdfunding, with contributors gaining exclusive access to crypto projects while retaining custody of their principal investment.
Engineered by Lena Instruments, CloudFunding® contributions come from the rewards earned by users’ Flare (FLR) or Songbird (SGB) capital. Through this model, CloudFunding® provides a secure and low-risk crowdfunding mechanism in the crypto industry. Supporters can dedicate anything from 1% to 100% of the rewards their principal generates to fund the projects they believe in, all while retaining their original investment.
CloudFunding® project owners can reap a continuous cash flow following each reward epoch for the duration of their community’s contribution. The new launchpad also provides support to projects such as community forums, smart contract audits, and legal advice through Lena Instruments’ experts.
“Lena Instruments, a major token holder in Flare, is committed to its long-term success. It is only natural for Lena to utilize its know-how and engineering talent to design new products and contribute to the development of Flare,” says Laura Moreby, the Head of Communications and spokesperson for Lena Instruments.
Laura added: “CloudFunding® is one of the many products Lena will be releasing on Flare and Songbird to improve the public’s, projects’, and institutions’ access to this exceptional Layer 1. We want to thank our partner, Flare Networks, for their trust in our team. We promise to continue delivering smart, fun, and user-friendly products to accompany Flare on its journey to success.”
“CloudFunding® is a perfect example of how developers can take advantage of the decentralized data infrastructure built natively into the Flare blockchain,” says Hugo Philion, CEO and Co-Founder of Flare Network. “By using the Flare Time Series Oracle (FTSO) as the mechanism for contributing to exciting new projects, CloudFunding® creates a win-win-win situation. Flare token holders get the opportunity to join new exciting projects with zero risk to their principal.”
Hugo added: “Flare Network recognizes the value of crowdfunding technology in the blockchain space and is grateful and excited that Lena Instruments has chosen Flare and Songbird to build its CloudFunding® platform.”
About Lena Instruments
Lena Instruments is a leading Swiss IT company providing sophisticated blockchain infrastructure solutions and software. Lena was founded five years ago as a result of research done at the Swiss Federal Institutes of Technology in Lausanne and Zürich. Since then, Lena Instruments has been successfully delivering solutions to the demanding and highly regulated Swiss/European IT and banking industries.
About Flare Network
Flare is a new blockchain with the first consensus protocol for external data. Decentralized applications on Flare can open the door to a new era of utility through: decentralized and insured multilateral bridging, full cross-chain composability, decentralized integration of Web2 data in Web3 dapps, and a secure fully-interoperable multichain solution.