Hedera network has approved to allocate 4.86 billion Hedera token HBAR from Hedera Treasury for further development and advanced decentralized governance.
The Hedera Global Council, the entity overseeing the Hedera network, said in the blog post that the majority of the fund will be directed toward existing initiatives, including the HBAR Foundation, the Hashgraph Association and the DLT Science Foundation.
In addition to supporting ecosystem growth, 614.06 million HBAR will be used for the council’s operational costs and to compensate early simple agreements for future token buyers.
“2023 saw the accelerated adoption of the Hedera network with more than 33 billion real world transactions on the network, and the ecosystem partners played a key role helping applications to go to market and onboard new users,” said Betsabe Botaitis, CFO of the Hedera Council. “With this foundation solidly in place, the Hedera Council is pleased to further support the development and utilization of the network with these new grants.”
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