The long-standing battle between the EOS Foundation and Block.one (B1), the company behind the EOSIO blockchain, is set to take a new twist. Over the weekend, the EOS Network Foundation’s (ENF) founder and CEO, Yves La Rose, proposed some possible measures.
Yves urged EOS community members to consider legal alternatives against Block.one following a breach of trust. Yves accused Block.one of failing to invest $1 billion in EOSIO development as promised. He wrote in a lengthy thread on Twitter that “It has become apparent that B1 does not have and has never had any intention of investing the $1B promised in #EOS Network.
EOS Community Proposals To Protect EOS
Yves proposed two major actions against B1. The proposals are [art of the attempts to seek compensation from Block.one and hold it accountable. The EOS CEO believes that “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.”
Source: Twitter
Interestingly, the second option included forcing a hard fork to completely separate from B1 and remove B1-owned tokens. According to Yves, “If enough token holders are interested in making a legal claim, the @EOSnFoundation is prepared to assist in bringing #EOS token holders together for the purpose of advancing a claim against B1.”
Then, Yves clarified that this proposed lawsuit would differ from the existing lawsuit against Block.one for their ICO. According to the CEO, “This class action would be for B1 breaking its promise to invest in the EOS ecosystem”.
Another option would be to implement a hard fork. This would see EOS “sever its ties” with Block.one and increase its own integrity. As a result, there will be fewer EOS tokens in circulation which could raise its price.
Impact of the Lawsuit Proposals on EOS
Yves noted that these actions would eventually improve the position and long-term worth of the EOS Network. He also praised the network’s durability and potential. He described the platform as the most appealing utility token network in the cryptocurrency market.
Yve’s proposal so far has received mixed reactions from community members. Some believe a hard fork will be difficult to pursue and show a preference for a legal suit.
Source: Twitter
The community will decide whether to move forward with the hard fork or pursue the class-action lawsuit. Furthermore, community members can contact the Foundation at [email protected] to show interest in or learn more details about these suggestions.
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