Key takeaways:
- Allocating 4.86 billion Hedera worth of rogue for advancements in decentralized governance and development has been accepted by the Hedera Global Governing Council.
- After achieving over 33 billion real-world transactions on the network in 2023, Hedera wants to use the revenues to bolster its foundation.
Allocating 4.86 billion Hedera, the native cryptocurrency of the network, worth rogue for advancements in decentralized governance and development has been accepted by the Hedera Global Governing Council, which is in charge of the network.
According to a blog post by the council, the HBAR Foundation, the Hashgraph Association, and the DLT Science Foundation will receive the majority of the funds, or 4.248 billion HBAR.
After achieving over 33 billion real-world transactions on the network in 2023, Hedera wants to use the revenues to bolster its foundation.
Apart from fostering the expansion of the ecosystem, 614.06 million HBAR will cover the running expenses of the council and give future token purchasers compensation for early simple agreements.
The council’s chief financial officer, Betsabe Botaitis, stated in the blog post that the HBAR Foundation and Hashgraph Association awards are set for delivery in the first quarter of 2024. Grants will be awarded to the DLT Science Foundation as it meets significant benchmarks during the year.
Botaitis emphasized how important ecosystem partners are to accelerating the uptake of Hedera. He said:
“With this foundation firmly established, the Hedera Council is happy to continue backing network development and use through these new grants.”
According to representatives from both organizations, the DeRec Alliance, which was introduced on January 11 by the HBAR Foundation and the Algorand Foundation, intends to develop a decentralized recovery mechanism for digital assets.
Several security experts claim that 170 Ether, presently worth $440,000, was allegedly taken advantage of and given to Wise Lending. Several tokens are contained in this contract, including 18.51 Wrapped Ether (WETH) ($47.694), USD Coin valued at $9,000, Tether valued at $2,000, Dai valued at $5,000, and numerous tokens associated with Pendle Finance. 1,110 Lido Staked Ether (stETH) tokens, valued at $2.9 million, were taken by the hacker from the Aave lending protocol.
