Hassan Maishera
TL;DR
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Yves La Rose, the CEO of EOS Network Foundation, has revealed that the foundation would be taking certain measures to hold Block.one accountable for its promised investment in EOS.
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The EOS community initiates a class action lawsuit against Block.one or chooses to carry out a hardfork that excludes Block.one's owned tokens, including Bullish, from participating in EOS token trading.
The EOS Network Foundation Is Coming After Block.one
Yves La Rose, the CEO of the EOS Network Foundation, announced over the weekend that the ENF would be taking certain actions against Block.one for its failed investments in the EOS blockchain over the years.
According to La Rose, it has become evident that Block.one does not have and has never had any intention of investing the $1 billion promised in the EOS network. He pointed out that up until Sept 1, 2021, EOS token holders relied on Block.one promises when they purchased tokens, and therefore should take action to hold the company to its promises.
The #EOS Network remains the most compelling utility token network in the space. Taking steps to hold @B1 to its promises of investment in EOS Network will only improve EOS Network’s position and the long term value that it can bring to its participants.https://t.co/84ZmVmgv8q
— Yves La Rose (@BigBeardSamurai) May 20, 2023
He pointed out that the EOS community has two options in front of it. The first option is to file a class action lawsuit against Block.one for failure to live up to its promises. . The ENF is fully prepared to facilitate collaboration among token holders in their pursuit of justice.
The second option is to carry out a hard fork that excludes Block.one's owned tokens, including Bullish, from participating in EOS token trading.
According to La Rose, this action would reduce the volume of EOS tokens and sever the association between the EOS Network and B1. However, whether or not to proceed with this proposal will depend entirely on the votes of community members. He concluded that the EOS Network remains the most compelling utility token network in the crypto space. As such, taking steps to hold Block.one to its promises of investment in EOS will improve EOS Network’s position and long-term value.
EOS was previously one of the top 10 cryptocurrencies by market cap. However, it lost its position during that last bull cycle and now occupies 48th place in the market.
