Block.one was supposed to receive another 67 million EOS over the next six to seven years, but the community voted to cancel the payments.
The EOS community has decided to stop ongoing payments to Block.one, stating that it is no longer acting in the best interests of the network.
The release of 67 million EOS (~$250 million) that was supposed to be distributed to developers was stopped by a general vote. Of this amount, half was due to Brock Pierce, the co-founder of the issuer of stablecoins Tether and Block.one.
The leader of the opposition organization EOS Network Foundation, Yves La Rose, noted:
Thanks to the consensus of the overwhelming majority, the EOS network took its future into its own hands, voting to fire Block.one and stop transferring tokens to them. This usheres in a new era for EOS and highlights the power of the blockchain to allow the community to stand up to corporate interests that do not align with their interests.
After raising $4 billion in an ICO, Block.one released software for the EOS blockchain in 2018. In exchange for supporting the EOS blockchain, Block.one was to receive 100 million EOS ($376 million) over 10 years - about 10% of the total supply.
However, Block.one's subsequent projects were not related to the EOS blockchain. Voice social media platform is not compatible with EOS. The Bullish decentralized exchange was also not supposed to run on EOS. This approach does not suit the community, and they are looking for a new path of development.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Ukrainian auction is the leader of Blockchain technology in the country
During the year of its operation, the Ukrainian blockchain auction OpenMarket gained trust in the electronic platform, sold the most expensive lot in its history and was shortlisted as finalists in the global anti-corruption competition Shield in the Cloud Innovation Challenge from C5 Accelerate, which was held in March in Washington with the support of Amazon Web Services (AWS), PeaceTech Lab and SAP NS2.
The Chinese branch of Amazon announced its cooperation with the Qtum blockchain.
According to a press release issued by the Qtum team, AWS users will now be able to “quickly, efficiently and cheaply” develop and run their own smart contracts using Amazon Machine Image (AMI).
