Step by EOS Network Foundation to Establish Accountability for Broken Promises by Block.one

Key Takeaways

• Yves La Rose offered measures to address Block. one’s failure to fulfill its $1 billion investment promise in the EOSIO development.
• Yves La Rose proposes a class action or hard fork that prevents all tokens owned by Block.one from participating in EOS token trading.

Last weekend, Yves La Rose, CEO of the EOS Network Foundation, made several statements about Block.one. The plan Rose announced was recorded as an action plan for Block.One’s failure to keep its promises and accountability. In response to Block.one’s inability to honor its $1 billion investment commitment in EOSIO development, he proposed ways to seek compensation and end relations with the company.

Yves’ first proposal was to compensate for the loss caused by not investing in the EOS network as Block.one had promised. He suggested that they act with the community in this process and the idea of filing a class action.

He also stated that they are ready to increase cooperation between token holders by providing the necessary support and resources to bring together EOS token holders. The basic premise of the proposed lawsuit will be independent of Block.one’s other activities and will only be related to their failure to make the promised investment in the EOS ecosystem.

His second proposal includes a hard fork that would prevent all tokens (including Bullish) owned by Block.one from participating in EOS token trading. Thanks to this fork, EOS severs all ties with Block.one and all crypto communities have faith in the integrity of the EOS network. He stated that another advantage of this proposal is that it will reduce the supply of circulating EOS tokens, resulting in a potential increase in value.

The mainstay of both proposals is to address the frustration of EOS token holders by Block.one, which did not keep its promise of investing 1 billion dollars in the EOS ecosystem.

Starting Point of the Story

Block.one had pledged to invest $1 billion in the EOSIO ICO in 2018. Although 5 years have passed since this investment promise, investment has yet to be made. The failure to keep this investment promise disappointed the entire EOS community, and it turned out that Block.one did not have any investment intentions.

Conclusion

Yves La Rose highlighted the potential of the EOS Network Foundation, presenting measures to increase the position and value of the EOS network. He stated that the authority to take a class action or hard fork is within the EOS community.

He stated that the EOS Network Foundation encourages and cares about the active participation of all interested parties to ensure fairness and protect network integrity.