Wormhole reached a peak TVL of $3.8 billion shortly before the collapse of the Terra ecosystem and the onset of the crypto winter.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
The Hedera Global Governing Council, which oversees the Hedera network, has approved allocating 4.86 billion of the network’s native token, Hedera (HBAR), worth roughly $408 million, for further development and advanced decentralized governance.
In a blog post, the council said the lion’s share of the funds, 4.248 billion HBAR, will be directed toward existing initiatives, including the HBAR Foundation, the Hashgraph Association and the DLT Science Foundation.
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Source: https://cointelegraph.com/news/wormhole-reclaims-1b-tvl-hedera-s-408m-development-fund-finance-redefined