Crypto Firm FARE Protocol Raises $6.2M Ahead of Token Launch

Blockchain project FARE Protocol has raised $6.2M in a seed round led by Goat Capital and C Squared Ventures, ahead of its ecosystem and native token launch on Ethereum layer 2 blockchain Arbitrum. The FARE ecosystem uses probability smart contracts triggered by transparent on-chain events based on probability variables, with the first use case being randomized minting and burning of the FARE token.

The probability of losing a token is higher than winning, similar to a real-world casino. Other investors in the round included Republic Crypto, Eniac Ventures, and Quantstamp.

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