info_tfgrid/collections/about/threefold_history.md

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<h1> ThreeFold History </h1>
<h2>Table of Contents</h2>
- [Introduction](#introduction)
- [History](#history)
- [ThreeFold Project Funding Total](#threefold-project-funding-total)
- [Status](#status)
- [Genesis Pool](#genesis-pool)
- [History of Tokens](#history-of-tokens)
***
## Introduction
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).
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.
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.
## History
In the earlier days of ThreeFold, there were multiple teams collaborating, but the two core teams were located in Dubai and Belgium.
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.
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.
## ThreeFold Project Funding Total
How much funding was used to make the ThreeFold project possible?
> +- 50M USD
- +20M USD for all farming (thank you farmers)
- 15M USD in ThreeFold Tech as convertible loan (by 50+ investors)
- 5M USD in early IT capacity purchases (as TFT)
- +10M USD funding from Incubaid/Kristof (estimate)
- ThreeFold Tech was established Oct 2018, from out of Incubaid
- Related to people related to [Incubaid](https://www.incubaid.com)
- Over quite some years, multiple companies/projects
## Status
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.
See our [overview of our companies](threefold_companies.md)
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## Genesis Pool
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
For more info about history of tokens, see [token history](token_history.md).