ThreeFold History
Table of Contents
- [Introduction](#introduction)
- [History](#history)
- [ThreeFold Project Funding Total](#threefold-project-funding-total)
- [Status](#status)
- [Genesis Pool](#genesis-pool)
- [History of Tokens](#history-of-tokens)
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## 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.
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)
## 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.
## History of Tokens
For more info about history of tokens, see [token history](token_history.md).