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Linera Blockchain Fails to Meet Fundraising Target, Refunds to Be Processed
Linera, a Layer1 blockchain project, announced that its community round financing has concluded without reaching its target of 1.5 million USDC. The commitment period attracted 617 participants from 69 countries, who collectively pledged a total of 848,271 USDC.
In light of this shortfall, Linera will initiate a refund process for all participants. The refunds will be returned to the same wallets used during the commitment. The project's website will soon be updated to provide details on the refund process, and an announcement will follow once it is live.
Further updates regarding the project and the refund timeline will be communicated after the refund period concludes. Linera's inability to meet its fundraising goal highlights the challenges faced by blockchain projects in securing financial commitments from the community.
Source: KLEA News