The Linera team announced on Discord that due to insufficient funds, the project will cease operations effective immediately. Their token sale on the Sonar platform received nearly $900,000 in subscription commitments but failed to meet the minimum threshold required to complete the sale. All subscription funds have been refunded. The team subsequently attempted to secure emergency funding to support the company’s progress toward mainnet launch but was unable to raise the necessary capital. Currently, Linera is gradually shutting down its applications and Discord community. User point balances will remain recorded, but the team cannot promise any future benefits tied to the points. The team expressed hope to complete protocol development and launch applications in the future but cannot provide a timeline at this time. Previously, Linera was founded by former Meta researcher Mathieu Baudet and raised approximately $12 million in two funding rounds in 2022 and 2023. a16z participated in both rounds, with other investors including Borderless Capital, GSR, Matrixport Ventures, and Flow Traders. https://(wublock123.com)/news/linera-shuts-down-after-funding-shortfall-token-sale-refunds-68648