Distributed ledger technology defined as an alternative to blockchains. Hedera Hashgraphin the network DeFi announced the launch of a new fund to support its innovation.
HBAR Foundation announced today that they have launched a $155 million “Crypto Economy Fund” focused on DeFi.
The said fund HBAR HBAR Foundation, which thinks that the growth of the economy will be accelerated, stated that the fund will focus on increasing accessibility within the Hedera network.
In the statement, he said that the amount collected in the fund will be used as liquidity mining rewards for decentralized exchanges, while the remaining funds will be used for infrastructure-focused initiatives.
Shayne Higdon, CEO of the HBAR Foundation In his statement about the newly launched fund, he made the following statements:
“Our goal is to bring the DeFi ecosystem to Hedera Hashgraph so users can enjoy low cost.
More institutions and consumers are coming to Hedera Hashgraph to trade their digital assets and participate in the cryptocurrency economy.”
The CEO also added that Hedera Hashgraph processes approximately 2.6 million transactions per day with transaction settlement times of around 5 seconds.
The Hedera Hashgraph system cryptocurrency HBAR, According to CoinMarketCap data, it ranks 33rd by market cap and is trading at around $0.25.
HBAR, which rose by 10% after the news of the fund, was withdrawn by 5% in a short time.
*Not Investment Advice.