According to the official release, the non-profit organization EOS Network Foundation plans to recover $4.1 billion from Block.one, which launched the EOS project.
As Founder of @EosNFoundation I share your frustrations! We are taking further steps to hold @B1 accountable for its past actions and broken promises against #EOS. Review of ALL possible legal recourse to seek $4.1B in damages underway. Let’s do this together! #4BillionDAO coming
— Yves La Rose (@BigBeardSamurai) February 10, 2022
“We are moving forward and doing everything we can to hold B1 accountable for its past actions and broken promises regarding EOS. At the moment, these are available legal remedies for $ 4.1 billion in damages, ”the head of the organization, Yves La Rose, told the public.
also in blog the EOS Network Foundation is said to be working with a Canadian law firm “to investigate Block.one’s past activities” and determine “available legal remedies.”
Please note that in 2018 Block.one raises $4.2 billion thanks to ICO.
For supporting the project, the company was supposed to receive a payment of 100 million EOS (about 10% of the issue) over 10 years. According to the EOS Network Foundation, in the following years, the community became frustrated with Block.one’s commitment to the blockchain in terms of real-life use cases.
Company created the social network Voicebut it turned out that it does not function on EOS, similar to the one created later Bullish bitcoin exchange.
A new social media is on the horizon. Join us. https://t.co/gBpVFllLTz
— Salah Zalatimo (@Salafel) Jul 3, 2020
As a result of this situation, EOS members and block producers organized the EOS Network Foundation in August 2021. La Rose, who previously led the block producer EOS Nation, became the leader.
In the keynote speech, he stated that Block.one had failed EOS and that a new path had to be found to move the project forward.
The organization sought from the company to transfer the intellectual rights to EOS to it. Instead, Block.one has pledged 30 million EOS to the EOS Network Foundation.
