According to Yves La Rose, the founder and CEO of the EOS Network Foundation (ENF), the EOS community took over the ecosystem due to Block.one’s failure to financially support it after the 2018 initial coin offering (ICO). The community felt compelled to take matters into their own hands and build everything from scratch because they did not own any existing intellectual property. The ecosystem had also been starved of capital for years, so a quick injection of capital was necessary before proper decision-making processes were in place. La Rose rejected Block.one’s settlement proposal because it fell short of the $1 billion promised Investment into the EOS Network and community.
The EOS community faced several obstacles in reviving the Blockchain network that was abandoned by Block.one. They had to rebuild everything from scratch, such as the website, Github, social media accounts, and documentation. They also had to reach out to listing sites, data aggregators, and exchanges individually to inform them of the leadership change. The ecosystem had been deprived of capital for a long time, so they had to find ways to deploy it quickly and effectively without well-established processes and frameworks. However, the community had a strong idea of who and what to support because many of the top contributors had been involved in the project for years.
The community has been engaged in a legal battle with Block.one, and La Rose urged the community to reject the company’s $22 million settlement proposal. He argued that the proposed settlement was a small fraction of the $4.1 billion raised in the ICO and the $1 billion promised investment that Block.one failed to fulfill. The EOS community wants to hold Block.one accountable for its commitments and ensure that they invest in the EOS Network and community as promised. Accepting the settlement could bar community members from bringing future claims against Block.one, so it is deemed inadequate to avoid accountability for their actions.
Yves La Rose’s journey in the EOS ecosystem began as the CEO and co-founder of EOS Nation, a standby block producer. Over the years, EOS Nation gained credibility through leading various ecosystem initiatives and coordinating system upgrades. They eventually became the top-ranked block producer. La Rose realized that there was a need for a focused entity to enable developers, businesses, and individuals to build on EOS, leading to the establishment of the EOS Network Foundation.
The EOS community’s efforts to revive the ecosystem have been challenging but promising. They have overcome obstacles such as the lack of intellectual property ownership and the scarcity of capital. By rebuilding from scratch and relying on the expertise of top contributors, they have developed a roadmap and priorities for the network. The community remains committed to holding Block.one accountable and ensuring the promised investment into the EOS Network and community.
Overall, the story highlights the challenges faced by the EOS community in taking over the ecosystem and rebuilding it from scratch. It sheds light on the lack of financial support from Block.one and the legal battle between the community and the company. Despite these challenges, the community remains determined to revive and nurture the EOS network..
#Block.ones #Settlement #Offered #Tiny #Fraction #Billion #Raised #EOS #Network #Foundation #CEO
The EOS community faced several obstacles in reviving the Blockchain network that was abandoned by Block.one. They had to rebuild everything from scratch, such as the website, Github, social media accounts, and documentation. They also had to reach out to listing sites, data aggregators, and exchanges individually to inform them of the leadership change. The ecosystem had been deprived of capital for a long time, so they had to find ways to deploy it quickly and effectively without well-established processes and frameworks. However, the community had a strong idea of who and what to support because many of the top contributors had been involved in the project for years.
The community has been engaged in a legal battle with Block.one, and La Rose urged the community to reject the company’s $22 million settlement proposal. He argued that the proposed settlement was a small fraction of the $4.1 billion raised in the ICO and the $1 billion promised investment that Block.one failed to fulfill. The EOS community wants to hold Block.one accountable for its commitments and ensure that they invest in the EOS Network and community as promised. Accepting the settlement could bar community members from bringing future claims against Block.one, so it is deemed inadequate to avoid accountability for their actions.
Yves La Rose’s journey in the EOS ecosystem began as the CEO and co-founder of EOS Nation, a standby block producer. Over the years, EOS Nation gained credibility through leading various ecosystem initiatives and coordinating system upgrades. They eventually became the top-ranked block producer. La Rose realized that there was a need for a focused entity to enable developers, businesses, and individuals to build on EOS, leading to the establishment of the EOS Network Foundation.
The EOS community’s efforts to revive the ecosystem have been challenging but promising. They have overcome obstacles such as the lack of intellectual property ownership and the scarcity of capital. By rebuilding from scratch and relying on the expertise of top contributors, they have developed a roadmap and priorities for the network. The community remains committed to holding Block.one accountable and ensuring the promised investment into the EOS Network and community.
Overall, the story highlights the challenges faced by the EOS community in taking over the ecosystem and rebuilding it from scratch. It sheds light on the lack of financial support from Block.one and the legal battle between the community and the company. Despite these challenges, the community remains determined to revive and nurture the EOS network..
#Block.ones #Settlement #Offered #Tiny #Fraction #Billion #Raised #EOS #Network #Foundation #CEO
