Hedera to Unlock 6.28% of Total Supply on March 1st

Hedera network is set to unlock 6.28% of its total supply on March 1st, equivalent to 3.14 billion $HBAR tokens. At current market prices, this would result in the distribution of tokens worth approximately $223 million.

Of the tokens being unlocked, 0.67% will be dedicated to purchase agreements, 1.11% for network governance and operations, and 4.50% for the Ecosystem and Open-source Development Program.

Hedera Hashgraph is a distributed public ledger infrastructure. The project relies on Hashgraph, an asynchronous Byzantine Fault Tolerant (aBFT) algorithm, invented by CTO Dr. Leemon Baird, to achieve network consensus.

Since Hashgraph has the potential to process transactions at a comparatively efficient rate, Hedera intends to be a platform that can support high-volume use cases, such as micropayments, data compliance, and tokenization. The network also supports a virtual machine that can compile smart contracts written in Solidity, similar to the EVM. Hedera intends to be compliant across jurisdictions by offering native support for optional KYC and AML checks via its "Verified Identity" mechanism.