 | Preface: EOS, who has 4.2 billion financing, was very reluctant on building up a hospitable community environment. They’ve also ignored complaints and vituperation from their users for great many years.Eventually EOS community decided to fight back. On 8th December 2021, 17 major nodes on EOS network agreed upon the proposal of“stop releasing B1 account tokens” and put it into action, which led to 66 million unreleased EOS tokens being locked up and never those tokens are able to be moved again. I believe most people in cryptocurrency industry are familiar with EOS. Especially in the summer of 2018, the thriving EOS threatened to replace ETH’s public chain position. Now it seems obvious that EOS’s wild dream didn’t come true, ETH is still the public chain dominantor while EOS sank deeply EOS started with pure technological passion and eventually fell for capitalization Just a while ago, EOS became popular once again in a not-so-nice way: EOS community rebelled against its parent company. On 8th December, Block.one (B1) announced that it’d transfer 45 million EOS tokens to Helios, a new tool led by Brock Pierce, to establish EOS venture capital fund, EOS development institutions, EOS financial products and etc. However it’s well-known in the community that Helios’ founder Brock Pierce’s another identity is the co-founder of B1. It means the 45 million EOS had never left Brock’s wallet. Soon, negotiation with B1 was initiated and EOS Network Foundation (ENF) was designated as the community representative. During the negotiation, B1 refused to move the intellectual property of EOS.IO to EOS community. On 8th December, the owners of 17 major block-yielding nodes and 8 back-up nodes on EOS have frozen the EOS token output, which was originally going to be gradually delivered to B1 in the next 6-7 years, a total of 66 million EOS tokens. This is because B1 was able to gain 27400 EOS tokens daily but they don’t really deserve it due to profound decline in coding contribution and a lack of EOS ecosystem support. B1 being expelled isn’t on a whim, it’s more like a battle for healthy ecosystem development. During its early fundraising stage, B1 received 150k BTC finance. At the same time B1 gained 27400 EOS out of network production everyday, which is equivalent to the sum of 60 block-yielding nodes. However, as many new public chains such as Avalanche are giving hundreds of millions of dollars to help establishing EOS ecosystem, the pecuniarily powerful B1 had never used the funds on it. As an EOS user said: “the money is in place while B1 isn’t.” At last, EOS community’s long-suppressed dissatisfaction usher in an explosion.On 8th December, B1 announced that 45 million EOS will be transferred to new tool, Helios, to establish EOS venture capital fund, institution-level EOS financial products. As well as to setup infrastructures, tools and documentations for developers and to organize community activities on the themes of education, network and application development. However in EOS community’s point of view, this pro EOS network decision was highly suspicious. 45 million EOS worth more than 150 million USD. Also Helios,the receiver of the transaction, was founded by Brock Pierce. The person has two identities: the first is one of Tether’s co-founders; the second is one of B1’s co-founders. EOS community was aware that the money basically has never left Brock’s wallet. Soon ENF started negotiation with B1, they came to a final proposal: after giving 45 million EOS to Helios, B1 also need to give 30 million EOS to ENF; 1 million EOS to ecosystem financing platform Pomelo; and another million EOS to governance system EdenOs. Additionally, ENF orders B1 to handover EOS.IO’s intellectual property to EOS community, including community accounts, eos.io domain and etc. However, on 6th December, B1 announced that they will donate the corresponding amount EOS but disclosed nothing related to IP handover. Owners of EOS block-yielding nodes are not satisfied. As a result, they voted to lock up the undelivered EOS that originally should’ve gone to B1. They simply kicked B1 out of the game. EOS, the once known “Ethereum killer”, is now hindered from further development, its founding team also fell apart. EOS is facing a lack of community trust, to solve this problem, establish an ecosystem is the most urgent task at hand. [link] [comments] |
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