Blockchain startup Harmony raises $18 million

Harmony has raised $18 million in its token pre-sale, CoinDesk reports. The company got funds from a number of investors, including Lemniscap VC, BCA Fund, UniValues Associates, and Consensus Capital. According to Harmony co-founder, the sale was the only means to get the funding compliant to the company’s “long-term create a decentralized protocol.”

Harmony is planning the launch with a pre-mine of 12.6 billion tokens, CoinDesk writes. Currently, a bit over 2.8 billion tokens has been bought by the investors. The rest may be used as incentives to early adopters of the Harmony blockchain. When the network launches, proof-of-stake nodes “will be compensated with an as-yet-undetermined rate of inflation.” With time, the inflation rate should decrease.


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