Linera's native token LNRA community round public offering underwhelms, raising just $152,800 in nearly four days since launch.

The community round public offering for Linera, a new public chain founded by former Libra employees, has been underway for nearly four days since its official launch at 14:00 UTC on September 1. To date, total funds raised stand at just $152,824. Compared to the official maximum fundraising cap of $8 million, current progress is less than 2%; it also falls far short of the $3.2 million minimum target. Market response has been lukewarm, with the community round generating far less hype than anticipated. The public offering will run until 14:00 UTC on September 8. On August 16, 2023, Layer1 blockchain Linera secured a $6 million funding round led by Borderless Capital. The new capital will be used to "expand the team, launch the protocol's devnet and testnet, build strategic influence in the Asia-Pacific region, and further develop its developer academy." On June 29, 2022, Layer1 blockchain Linera announced the completion of a $6 million seed round, led by a16z with participation from Cygni Capital, Kima Ventures, and Tribe Capital. Linera plans to use the funds to hire engineers and team members to build out its protocol.