CoinTelegraph: Hedera Network Approves $408M of HBAR for Ecosystem Growth
The Hedera Global Governing Council has approved the allocation of 4.86 billion Hedera (HBAR) tokens, valued at approximately $408 million, to support ecosystem growth. The majority of these funds, 4.248 billion HBAR, are earmarked for existing initiatives such as the HBAR Foundation, the Hashgraph Association, and the DLT Science Foundation. This move follows Hedera's successful performance in 2023, which saw over 33 billion real-world transactions on the network. Additionally, 614.06 million HBAR will be used for the council's operational costs and to compensate early token buyers. Grants from the HBAR Foundation and Hashgraph Association are set for disbursement in Q1 2024, while the DLT Science Foundation will receive grants upon reaching key milestones throughout the year.
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