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A decision was passed on July 14th by Hedera Governing Council to allocate about $5 billion to develop the Hedera ecosystem. The Hedera Governing Council, a coalition of diverse organizations, has approved a plan to allocate 10.7 billion HBAR tokens, which is 20% of the entire supply, valued at $5 billion at the time of writing. As of 16th September, Hedera's Governing Council has primarily reserved up to 5.35 billion hbars, worth approximately US $2.5 billion to the newly established independent HBAR Foundation. According to the decision made on July 14, the HBAR Foundation will get around 2.5 billion tokens to funds developers, startups, and other network expansion initiatives. The rest is being utilized to improve the ecosystem. "The Hedera network is the most widely used public ledger in the world, and with the establishment of the HBAR Foundation we aim to drive exponential adoption, growth, and value," said Shayne Higdon, Executive Director and CEO of the HBAR Foundation.
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