The Hedera Global Governing Council has approved 4.86 billion Hedera (HBAR) tokens, worth approximately $389 million, to support the growth and development of the Hedera ecosystem.
The Hedera Global Governing Council has approved 4.86 billion Hedera (HBAR) tokens, worth approximately $389 million, to support the growth and development of the Hedera ecosystem. The majority of the funds, 4.248 billion HBAR, will be directed towards existing initiatives, including the HBAR Foundation, the Hashgraph Association, and the DLT Science Foundation. These organizations play a crucial role in fostering innovation, promoting adoption, and supporting research and education related to Hedera technology.
The remaining 614.06 million HBAR will be used for the council's operational costs and to compensate early token buyers. The council's decision to allocate a significant amount of HBAR tokens to ecosystem growth and governance underscores its commitment to building a vibrant and sustainable Hedera ecosystem.
This move is expected to attract more developers, businesses, and users to the Hedera network, further driving its adoption and growth.
The HBAR Foundation and Hashgraph Association grants are expected to be disbursed in the first quarter of 2024, while the DLT Science Foundation will receive grants as it achieves critical milestones throughout the year.
The Hedera Global Governing Council's allocation of HBAR tokens is a positive development for the Hedera ecosystem. Recently, the Hedera Foundation and Algorand Foundation announced the DeRec alliance to collaborate and develop decentralized recovery of digital assets.
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