FARE Protocol, a crypto firm, has recently raised $6.2 million in a seed round led by Goat Capital and C Squared Ventures. The investment is made ahead of the launch of their token, slated to be launched on Ethereum layer 2 blockchain Arbitrum in the near future. This comes off the heels of the ARB token airdrop, an industry-wide awaited event, which was unfortunately marred with controversy and questions about the Arbitrum DAO's premature movement of $1 billion of the tokens to the Arbitrum Foundation, ahead of a voting on how to utilize it.

The FARE Protocol has a special feature - probability smart contracts, which trigger the transparent on-chain events based on probability variables. The primary use of this feature is for randomized minting and burning of their FARE token (referred to as “winning” or “losing”, similar to casinos). On top of this, the collected FARE tokens are distributed within the ecosystem, as opposed to being claimed by a centralized “house”.

The monumental seed round received contributions from some renowned investors, such as 6th Man Ventures, Republic Crypto, Arrington Capital, Eniac Ventures, Spark Digital Capital, Morningstar Ventures, Quantstamp, and DWeb3. Collectively, the money raised will help FARE Protocols progress their progress, driving the development and launch of their FARE token on Ethereum layer 2 blockchain Arbitrum.



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