According to CoinMeta, the linera team announced on Discord that due to insufficient funds, the project will cease operations from today onwards. They received nearly $900,000 in subscription commitments for the token sale on their Sonar platform, but this did not meet the minimum threshold required to complete the sale, and all subscription payments have been refunded. The team subsequently attempted to seek emergency financing to support the project's transition to a mainnet launch, but were unable to raise the necessary funds. Currently, linera is gradually shutting down the application and the Discord community. User point balances will be retained, but the team cannot guarantee any future benefits for these points. The team stated that they still hope to complete the protocol development and launch the application in the future, but they are unable to provide a timeline at this time. Previously, linera was founded by former researcher Meta of Mathieu Baudet. In 2022 and 2023, the project raised approximately $12 million in two rounds of financing, with a16z participating continuously, along with other investors such as Borderless Capital, GSR, Matrixport Ventures, and Flow Traders.