How has Swirlds used the one-time payment of 10% of SAFT fundraise from Hedera?
Swirlds is a privately held company, not obligated to publicly disclose financial information, but we want to provide clarity around a question we have received from the Hedera community.
The funds received from Hedera support Swirlds engineering, securing the IP, and other activities to build the Hashgraph platform and services in support of Hedera.
Leemon and Mance, the founders of Swirlds, and its sole shareholders at the time, each received $200K in December 2018. In addition, Swirlds made a non-forgivable, secured loan to Mance. They have not received a salary or any other compensation from Swirlds since the SAFT fundraise in Hedera, and it is not their intention to receive cash compensation from Swirlds in the foreseeable future. Other than as described here, there have not been any cash distributions to Swirlds shareholders to date.