2 years ago
The EOS Network Foundation, the enactment acceptable up to enactment the improvement of the EOS ecosystem, is considering ineligible enactment against estranged genitor Block.one, seeking $4.1 cardinal successful damages.
CEO Yves La Rose tweeted Thursday that the instauration is taking steps to clasp Block.one "accountable for its past actions and breached promises. Review of ALL imaginable ineligible recourse to question $4.1B successful damages underway."
The instauration has enlisted a Canadian instrumentality steadfast to analyse Block.one's actions and pledges to the EOS assemblage and investors to find whether options are disposable for ineligible proceedings, La Rose wrote successful a blog post.
Having raised $4.1 cardinal successful its archetypal coin offering (ICO) successful 2018, the blockchain protocol fell abbreviated of expectations, with La Rose placing the blasted squarely connected the shoulders of its large backer. The narration betwixt the 2 deteriorated, with La Rose saying successful November that EOS – a blockchain-based level to alteration the improvement of decentralized applications (dapps) – was a "failure" and its autochthonal currency a "terrible investment."
The EOS assemblage feels Block.one has shifted its absorption and backing – including its vested EOS tokens – to caller crypto speech Bullish, which was unveiled past May with PayPal co-founder Peter Thiel and integer plus manager Galaxy Digital among its backers.
"In November and December 2021 we engaged successful negotiations with Block.one to effort to put a just and tenable solution with Block.one that would presumption the EOS assemblage for aboriginal success," La Rose said.
"Unfortunately Block.one decided to locomotion distant from the negotiations and arsenic a effect the EOS Block Producers determined it was successful the champion involvement of the assemblage to frost the vesting of each the EOS tokens that Block.one was to gain successful the future."
EOS stakeholders voted successful aboriginal December to cease Block.one’s EOS token grants, worthy $250 million, implicit a multiyear vesting period.
"At this point, it is the statement of the bulk of token holders that I talk to, wrong and extracurricular of EOS, that Block.one knowingly misrepresented their capabilities and this amounts to negligence and fraud," La Rose wrote.
He added that helium hoped the EOS Foundation would beryllium to instrumentality power of the protocol and usher enlargement of the task with the assistance of caller concern from task superior firms.
CoinDesk has reached retired Block.one for comment.
UPDATE (Feb. 10 13:20 UTC): Adds last paragraph regarding attack to Block.one for comment.
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Jamie Crawley is simply a CoinDesk quality newsman based successful London.
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