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HBAR Tokens Worth $5 Billion to Boost Network Adoption

HBAR Tokens Worth $5 Billion to Boost Network Adoption Altcoin News
  • The Hedera Governing Council approved $5 billion in HBAR for network adoption.
  • HBAR Foundation will receive around 2.5 billion in HBAR tokens.
  • The rest of the budget will be going to initiatives to boost the Hedera ecosystem

Hedera Hashgraph’s governing council composed of 23 organizations has allocated HBAR tokens for the platforms network adoption. The amount of tokens is 10.7 billion, worth around 5 billion dollars.

The fund will be split in half. The first half, worth $2.5 billion will be given to the HBAR Foundation. On the other hand, the rest of the allocation will go to initiatives that will help develop and expand the Hedera ecosystem.

According to Hedera Hashgraph CEO Mance Harmon, their platform is the most used energy-efficient and enterprise-grade public ledger available in the industry. Harmon said,

We are pleased that the Hedera Governing Council has made such a significant commitment to accelerate the decentralized growth and usage of the network.

Shayne Higdon, M&A veteran, CoFounder and CEO of the HBAR Foundation said, that the project’s mission is to create and fund a future where business-minded individuals are able to form digitally native economies. He added that they are aiming to provide a platform where entrepreneurs can control their own assets, identities, data, etc. According to Higdon,

We are excited to engage with and support organizations and teams that share this vision.

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Ezra Reguerra is the Senior Editor for CoinQuora. He works in the editorial aspects of the publication. His tasks include writing, overseeing the content team, setting goals, and approving content.