Wormhole reclaims $1B TVL, Hedera’s $408M development fund: Finance Redefined

SUPEREX 2024-01-20
8 Comments

Wormhole reached a peak TVL of $3.8 billion shortly before the collapse of the Terra ecosystem and the onset of the crypto winter.

Wormhole reclaims $1B TVL, Hedera’s $408M development fund: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The past week in DeFi saw major market developments right from the Wormhole reclaiming  $1 billion total value locked in the bridge nearly two years after the infamous hack. On the other hand Hedera Governing Council 

The top-100 DeFi tokens had a bearish week owing to the wider market bearish momentum as majority of the tokens traded in red on the weekly charts.

Hedera network approves $408 million of HBAR for ecosystem growth

The Hedera Global Governing Council, which oversees the Hedera network, has approved allocating 4.86 billion of the network’s native token, Hedera (HBAR), worth roughly $408 million, for further development and advanced decentralized governance.

In a blog post, the council said the lion’s share of the funds, 4.248 billion HBAR, will be directed toward existing initiatives, including the HBAR Foundation, the Hashgraph Association and the DLT Science Foundation.

Categories: Blockchain
SUPEREX

Related Articles

Responses

Report

Harassment or bullying behavior
Contains mature or sensitive content
Contains misleading or false information
Contains abusive or derogatory content
Contains spam, fake content or potential malware

Block Member?

Please confirm you want to block this member.

You will no longer be able to:

  • See blocked member's posts
  • Mention this member in posts
  • Invite this member to groups
  • Message this member
  • Add this member as a connection

Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

Report

You have already reported this .