• Hedera’s HBAR Foundation Establishes a $100 Million Sustainable Impact Fund

  • On Thursday, the HBAR Foundation, which fosters the development of the Hedera network by providing grants and resources to developers, announced the creation of a $100 million fund for sustainable ventures.

    • According to a press statement from the foundation, the Sustainable Impact Fund wants to invest in Hedera-based solutions that entail carbon emissions, offsets, and removals, as well as other nature-based projects.
    • DOVU, a Hedera-powered “trust layer” for carbon offset integrity, will be the fund’s first grant recipient. The amount of funding was not disclosed.
    • DOVU offers comprehensive tracking of carbon offset credits, giving customers confidence in the credits’ origin and source. Carbon offset credits are a method of lowering greenhouse gas emissions. To compensate for emissions elsewhere, the credits are utilized for land restoration or tree planting.
    • The world of Hedera’s decentralized apps is mostly oriented on enterprise usage. Following an ICO in 2018, the blockchain protocol was deployed in September 2019. Hedera’s governing committee gave $2.5 billion in HBAR tokens to the HBAR Foundation last year.
    • HBAR was trading at roughly 20 cents per share and had a market cap of slightly more than $4 billion.
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