As part of a strategic move aimed at fostering the growth of the Hedera network, the Hedera Council has approved the allocation of approximately 5 billion HBAR, Hedera Hashgraph's native cryptocurrency, for further development and support of decentralized governance. This underscores Hedera's commitment to advancing its ecosystem and supporting key initiatives critical to the network's future development.
The bulk of this distribution, specifically 4.248 billion HBAR, will be directed towards existing initiatives, including the HBAR Foundation, Hashgraph Association, and DLT Science Foundation.
In the latest blog post, the Chief Financial Officer of the Council, Betzabe Botaitis, announced that grants for the HBAR Foundation and Hashgraph Association are planned to be disbursed in the first quarter, while the DLT Science Foundation will receive grants as they achieve key milestones throughout the year.
Meanwhile, Botaitis emphasized the crucial role of partners in the ecosystem in accelerating the adoption of Hedera:
In addition to ecosystem development, a portion of the allocated HBAR, specifically 614.06 million, will be used for Hedera Council's operational expenses and payments to early investors under SAFT (Simple Agreement for Future Tokens).
