The funds are part of Hedera’s goal to strengthen its base following its 2023 performance, with over 33 billion real-world transactions on the network.
The Hedera Global Governing Council — the body overseeing the Hedera network — has approved allocating 4.86 billion Hedera (HBAR) — the network’s native cryptocurrency — worth rogu 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.
The funds are part of Hedera’s goal to strengthen its base following its 2023 performance, with over 33 billion real-world transactions on the network. 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.
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Source: https://cointelegraph.com/news/hedera-network-approves-408m-worth-hbar-allocation-for-ecosystem-growth