The Hedera Governing Council has initially earmarked up to 5.35 billion hbars (approximately 10% of the total hbar supply) to be transferred to the HBAR Foundation. It is expected that the HBAR Foundation will receive an initial distribution of 2.54 billion hbars, pending the finalization of definitive legal agreements.
The initial earmarking of up to 5.35 billion hbars for the HBAR Foundation was calculated based on the Hedera Council members approval on July 14, 2021 of an expected $1 billion value of hbars for the HBAR Foundation. The number of hbars allocated in accordance with the Hedera Council members’ approval was calculated as of July 14 using the 30-day trailing average USD closing price of hbars on coinmarketcap.com. For that 30-day period--from June 14, 2021 through July 13, 2021--the average closing price of hbars on coinmarketcap.com was $0.18691. Hedera announced this earmarking of hbars on September 16, 2021, at which time the value of 5.35 billion hbars was approximately US$2.5 billion based on the USD price of hbars on coinmarketcap.com.
As part of the overall agreement, Hedera has already made a loan of US $2 million to the HBAR Foundation, and Hedera contemplates providing the HBAR Foundation with an additional fiat loan, with details of such expected loan to be disclosed when they become available.