FARE Protocol builds probability smart contracts that trigger on transparent on-chain events and use probability variables to determine outcomes. Its first use case is randomized minting and burning (described as “winning” and “losing”) of the FARE token, with the probability of losing or burning set higher than minting to create deflationary pressure. Rather than a centralized house capturing profits, the protocol is designed to pass value to FARE holders through token deflation. FARE plans to launch its ecosystem and native token on Ethereum layer‑2 Arbitrum later this year. The company raised $6.2 million in a seed round ahead of the token launch. Investors named in the round include Goat Capital (managed by Justin Kan), C Squared Ventures, 6th Man Ventures, Arrington Capital, Eniac Ventures, Spark Digital Capital, Morningstar Ventures, Quantstamp, DWeb3 and others.

Total raised

$6M

Funding rounds

1

Latest round

Seed

Latest activity

May 2023