Linera Announces Shutdown After Token Sale Falls Short, Subscription Funds Fully Refunded

Odaily News: Linera founder Mathieu Baudet has announced that the project will cease operations immediately after its fundraising campaign failed to reach the minimum target. Linera's token sale on the Sonar platform received approximately $900,000 in subscription commitments, but fell short of the minimum amount required to complete the sale, and all subscription funds have been refunded to participants. The team had previously attempted to raise emergency funding to sustain operations until the mainnet launch, but was unable to secure the necessary capital. Earlier, Linera's LNRA community round received 848,300 USDC in subscription commitments, below the minimum target of 1.5 million USDC, and the related funds will be refunded.