Hedera Hashgraph to Re-Evaluate The Token Economic Model & HBAR’s Distribution Schedule
The blockchain-like network’s CEO now says he will re-evaluate the token’s economic model and potentially change HBAR’s distribution schedule to give the company time to reassess.
In a little over two weeks, Hedera Hashgraph’s HBAR cryptocurrency has dipped from a high of $0.36 cents to around $0.03 as of press time. The blockchain-like network’s CEO now says he will re-evaluate the token’s economic model and potentially change HBAR’s distribution schedule to give the company time to reassess.
“We are thrilled with the technical performance of our platform,” Hedera Hashgraph wrote in an amendment that was shared in the network’s Telegram channel on Monday. “We also believe that there may be an opportunity to make improvements to Hedera’s coin model.”
CEO and co-founder Mance Harmon did note in a blog post last week that 2.2 million transactions had run over the network in its first week, with network usage around 3 or 4 transactions per second and transactions settling in around 2 to 3 seconds. Hedera refused to comment for this story, saying the company does not speculate on HBAR prices.
However, Hedera noted in its post that the startup is working with Harvard-trained economists from consulting firm Prysm Group to re-evaluate the HBAR economic model. The goal: To see if it “has the right incentives for developers to develop on the network.”