Home » Business » EOS community refused to pay $ 250 million to Block.one developer :: RBC.Crypto

EOS community refused to pay $ 250 million to Block.one developer :: RBC.Crypto

According to the results of the vote, the company that launched the altcoin was suspended from further work on it

The development company Block.one, which issued the EOS token, will no longer receive payments from the project, writes The Block. This decision was made through a vote by the EOS community. It believes that the company has ceased to act in the interests of the project, so it should not receive a payment of 67 million EOS ($ 250 million), which should have been distributed over the next 6-7 years.

The EOS Network Foundation claims Block.one has disappointed the community. In particular, the company launched the Voice social network, which does not work on the project’s blockchain. In addition, the launch of the Bullish decentralized exchange, which also does not use EOS, was announced.

The EOS Network Foundation was established in August 2021. In November, the head of the organization, Yves La Rose, announced that the project would leave Block.one’s control. However, negotiations with the company came to nothing, so the community voted to stop payments to it.

Block.one raised $ 4 billion during the ICO to develop EOS. The altcoin blockchain was launched in June 2018. The company was supposed to receive 100 million EOS tokens, or about 10% of the issue, within 10 years.

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