59 lines
2.9 KiB
Markdown
59 lines
2.9 KiB
Markdown
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<h1> ThreeFold History </h1>
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<h2>Table of Contents</h2>
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- [Introduction](#introduction)
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- [History](#history)
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- [ThreeFold Project Funding Total](#threefold-project-funding-total)
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- [Status](#status)
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- [Genesis Pool](#genesis-pool)
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- [History of Tokens](#history-of-tokens)
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***
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## Introduction
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The project, now in its sixth year and is gratefulf or the support of its community and commercial entity [ThreeFold Tech](https://github.com/threefoldtech).
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ThreeFold is fundamentally a decentralized initiative. Within this framework, ThreeFold Dubai plays a pivotal role in championing and advancing the ThreeFold Grid and the broader movement.
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Our founders have largely retained their tokens, with only minimal sales, if any. Their intent is clear: they plan to hold onto their tokens until the grid achieves global recognition and the token value surpasses 0.2 USD.
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## History
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In the earlier days of ThreeFold, there were multiple teams collaborating, but the two core teams were located in Dubai and Belgium.
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A group of early supporters bought IT capacity (through buying TFT) from our Genesis pool and our early farmers. These buyers could use their TFT to buy IT capacity from [ThreeFold Dubai](./threefold_dubai.md) or [BetterToken](./bettertoken.md) BV until April 2020, or from the TF Grid directly in a fully decentralized way starting May 2020.
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The ThreeFold Grid is the result of many farmers using the open source technology of ThreeFold Tech.
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Originally, the technology used was created by three companies: GreenIT Globe, ThreeFold Dubai & ThreeFold Tech. The last two still actively participate in the creation of tech components or content as used by all ThreeFold Farmers today.
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## ThreeFold Project Funding Total
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How much funding was used to make the ThreeFold project possible?
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> +- 50M USD
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- +20M USD for all farming (thank you farmers)
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- 15M USD in ThreeFold Tech as convertible loan (by 50+ investors)
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- 5M USD in early IT capacity purchases (as TFT)
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- +10M USD funding from Incubaid/Kristof (estimate)
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- ThreeFold Tech was established Oct 2018, from out of Incubaid
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- Related to people related to [Incubaid](https://www.incubaid.com)
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- Over quite some years, multiple companies/projects
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## Status
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We have worked with multiple regions over the years to look for appropriate structures, we realize we need more funding as such we have launched a venture creator in mauritius who will hopefully invest 7.5m EUR in TFTech as well as in TF Dubai.
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See our [overview of our companies](./threefold_companies.md)
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## Genesis Pool
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To kickstart the ThreeFold Grid back in 2017 the foundation committed large amounts of capacity to the grid. This was called the [Genesis Pool](./genesis_pool.md) and the tokens sold as mentioned could be used to use capacity from this pool and more.
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## History of Tokens
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For more info about history of tokens, see [token history](./token_history.md).
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