EOS Community Basis reveals plans to pursue a $4.1B lawsuit in opposition to Block.one

In a brand new chapter of the EOS neighborhood versus creators saga, the EOS Community Basis’s (ENF) founder and “community-elected CEO,” Yves La Rose, revealed that they’re getting ready for a authorized “struggle” in opposition to EOS creators Block.one.

In line with La Rose, they’re reviewing any potential authorized motion “to hunt $4.1B in damages.” At the moment, the EOS chief talked about {that a} Canadian legislation agency is working with them to discover what authorized motion they will take in opposition to the unique builders of EOS.

As Founding father of @EosNFoundation I share your frustrations! We’re taking additional steps to carry @B1 accountable for its previous actions and damaged guarantees in opposition to #EOS. Overview of ALL attainable authorized recourse to hunt $4.1B in damages underway. Let’s do that collectively! #4BillionDAO coming

— Yves La Rose (@BigBeardSamurai) February 10, 2022

In a weblog put up, the Basis introduced that many members of the EOS neighborhood are very dissatisfied with Block.one.

“Block.one has not stored its phrase relating to previous guarantees and that each the neighborhood and particular person EOS customers have been harmed because of this.”

Final 12 months, the Basis introduced that they’ve gone by negotiations with Block.one to search out widespread floor. Each events engaged in discussions in an try and settle the problems in a good method. Nonetheless, ENF notes that Block.one walked away from the negotiations. In consequence, the block producers of EOS deemed it essential to freeze the vesting for future EOS token earnings for Block.one.

Associated: New analysis claims 21 accounts pumped the $4.4B EOS ICO with wash trades

Again in 2018, Block.one performed an preliminary coin providing (ICO of EOS tokens (EOS), promoting 900 million tokens for greater than $4 billion, the most important ICO held throughout that point. Nonetheless, since then, many have been upset by the course that the corporate took.

A couple of months again, La Rose described EOS as a failure. Citing the market capitalization and the lower in worth, he stated that it’s a horrible monetary and time funding. He additionally stated that the neighborhood misplaced key builders and turned away from blockchain growth and shifted in the direction of asset administration.