blockchainreporter.net
Over the weekend, Yves La Rose, the CEO of EOS Network Foundation, unveiled a series of initiatives aimed at ensuring accountability from Block.one, the company behind EOSIO blockchain. In response to Block.one’s failure to fulfill its commitment to invest $1 billion in EOSIO development, Yves suggested two potential avenues for seeking compensation and severing ties with the company.
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
Steps to Hold Block.one Accountable
Firstly, Yves proposed the idea of initiating a class-action lawsuit against Block.one to seek compensation for damages caused by their failure to invest in the EOS Network as promised. The ENF stands ready to facilitate collaboration among token holders, providing support and resources to bring EOS holders together for the purpose of advancing a claim against Block.one. This legal action would be distinct from an existing class-action lawsuit related to Block.one’s initial coin offering (ICO) and would focus specifically on their broken promise to invest in the EOS ecosystem.
The second proposal put forth by Yves involves a hard fork, a radical measure that would exclude Block.one’s owned tokens, including Bullish, from participating in EOS token trading. By implementing this hard fork, the EOS Network would sever all ties with Block.one, thus bolstering confidence in the network’s integrity. Additionally, this action would effectively reduce the supply of EOS tokens in circulation, potentially increasing their value.
Both proposals aim to address the disillusionment felt by EOS token holders who relied on Block.one’s promises during their token purchases. The broken commitment to invest $1 billion in the EOS ecosystem has cast doubt on Block.one’s intentions, necessitating decisive action to hold them accountable.
The Way Forward for the EOS Network
Yves La Rose emphasized the significance of these measures, asserting that they would ultimately enhance the position and long-term value of the EOS Network. He highlighted the resilience and potential of the EOS Network, considering it the most compelling utility token network in the crypto space.
The ultimate decision on whether to pursue the class-action lawsuit or proceed with the hard fork rests in the hands of the EOS community. The ENF encourages all interested parties to participate in the decision-making process, emphasizing the importance of collective action to secure justice and uphold the integrity of the EOS Network. To express interest or gather more information regarding these proposals, individuals can reach out to the EOS Network Foundation at legal@eosnetwork.com.
As the EOS community grapples with the aftermath of broken promises, the pursuit of justice and the quest for a stronger EOS Network are at the forefront of discussions. The coming days will reveal the community’s response to Yves La Rose’s proposals and shed light on the path that lies ahead for EOS and its stakeholders.