Tokenomics của Hedera (HBAR)

Issuance Mechanism

• Total Supply: HBAR launched with a fixed maximum supply of 50 billion tokens. The supply cannot be increased without unanimous consent from the Hedera Governing Council.
• Distribution Pattern: Tokens are released from the treasury at the end of each quarter, following a controlled, non-linear schedule. The supply increases at discrete intervals, typically quarterly, rather than continuously or linearly.

Allocation Mechanism

• HBAR Foundation: In September 2021, the HBAR Foundation was allocated 7 billion HBAR (~21.4% of total supply) to fund ecosystem development.
• Other Allocations: Additional allocations include developer community funds and ecosystem reserves.

Usage and Incentive Mechanism

• Transaction Fees: HBAR is used to pay for network transaction fees, which are split into network, service, and node fees.
• Medium of Exchange: HBAR is the primary medium of exchange within the Hedera ecosystem, used for trading, purchasing NFTs, and (in the future) paying for smart contract hosting.
• Staking: HBAR is staked by consensus nodes (currently permissioned and managed by the Council) to secure the network. Tokenholders can delegate HBAR to nodes and receive a share of staking rewards.
• Staking Rewards: As of March 2024, the maximum annual staking reward rate is 2.5%. Rewards are distributed from a dedicated staking reward account.

Locking Mechanism and Unlocking Time

• Treasury Release: HBAR tokens are released from the treasury at the end of each quarter, following a controlled schedule. The release is not continuous but occurs in discrete, scheduled intervals.
• Vesting and Lockups: Allocations to founders, early executives, Swirlds, and employees are subject to vesting and lockup schedules, as detailed in the HBAR Economics Paper and regulatory filings. For example, Swirlds receives a one-time allocation and ongoing monthly payments, with vesting over 46 months for certain allocations.
• Staking Lock: Delegators must stake HBAR for at least 24 hours to begin earning rewards. Accrued staking rewards must be claimed within 365 days, or they are forfeited.

Summary Table

Additional Notes

• Governance: The Hedera Governing Council (up to 39 global enterprises) manages network upgrades, treasury releases, and staking parameters.
• Decentralization Roadmap: While currently permissioned, Hedera plans to open node operation to the public over time.
• Transparency: The HBAR Economics Whitepaper and Treasury Management Report provide ongoing updates to tokenomics and release schedules.

This comprehensive structure ensures HBAR’s utility, security, and long-term ecosystem growth, with a strong emphasis on controlled supply, transparent allocation, and robust incentive mechanisms.