Block.One is denied $250M in EOS from EOS Community
Through a super majority consensus the elected top block producers voted to deny Block.One the EOS payments that would have vested over the next few years. The total amount was about 67M EOS, equal to about $250M.
The vote of the Block Producers came after a series of negotiations between the EOS Network Foundation and Block.One regarding the acquisition of intellectual property of the EOS network. Unfortunately, Block.One was unable to convey the EOS intellectual property because it is currently under the control of Bullish, Block.One's latest venture.
For this reason, Block.One tried to retract, offering 30M of EOS to the EOS Network Foundation, as well as 1M of EOS to Pomelo and 1M of EOS to EdenOS. This was not enough, however, and the EOS Network Foundation moved to convince the Block Producers to sign the multi-sig transaction and permanently halt future vesting payments to Block.One.
Also affected by this transaction is Brock Pierce, who had recently reached an agreement with Block.One to acquire a total of 45M of EOS to support Helios. Of these 45M however, 37M were to be vested over the next 7 years, and that will now no longer be the case. Helios is a new institution led by Brock Pierce, to specifically support the EOS community. It will be interesting to see now how the situation will be resolved between Brock Pierce and Block.One.
Sources:
- EOS community halts payments worth $250 million in EOS to Block.one and Brock Pierce
- Leveraging Block.one’s EOS holdings for additional network growth and opportunity
- Leveraging Block.one’s EOS holdings for additional network growth and opportunity: Part 2
- Block.One Sends 45M EOS to Helios to Serve the EOS Community
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