Linera winds down despite $12M in prior funding

Linera has begun winding down its operations after a token sale attracted nearly $900,000 in commitments but failed to meet the minimum funding threshold. Linera refunded all funds committed through its token sale on Sonar. Emergency financing efforts failed to secure enough money to continue development. The team will gradually close its applications and Discord community. RootData estimates that Linera previously raised $12 million from investors, including a16z Crypto. Linera token sale falls below minimum threshold Linera team members said on Discord that the project’s token sale on Sonar received close to $900,000 in commitments from participants. The total did not reach the minimum amount required for the sale to proceed, prompting the team to return all committed funds.