Block.one, a blockchain software company, is back in the news today after a decision was made that may only divide opinion within the already ailing EOS community.
Leverage https://t.co/3CA3BBz7h7 # EOS holdings for additional network growth and opportunities. https://t.co/x0ExDEzwE4
– B1 (@ B1) November 7, 2021
According to an official announcement, the team has used its EOS holdings for additional growth and opportunity. It officially announced the transfer of 45 million EOS (equivalent to $ 209 million) to Helios. Led by Brock Pierce,
“Helios aims to serve the EOS community through several lofty ambitions, including setting up an EOS venture capital fund, facilitating the creation of EOS financial products at the institutional level, supporting the creation of infrastructure, tools and documentation for Developers and the organization of community events on everything to do with education, networking and the development of use cases. “
It aims to increase public engagement and innovation within the EOS community. Meanwhile, crypto billionaire Brock Pierce shared his optimism in a tweet that read:
“We are excited about this next chapter in the development of EOS and the increasing public engagement and innovation within the EOS community … I look forward to seeing everything we can achieve together.”
It is worth mentioning here that the EOS community does not reciprocate the opinions of their former developer. One of the reasons they started their organization and chose new leadership is to transform the network. Many of these concerns were highlighted at an “invitation only” conference.
Make final preparations for tomorrow’s #EOS virtual event for press and key opinion leaders within the Chinese community.
This is my first public appearance since the announcement of my plans to start a #EOSFoundation in August! #WeAreConsensus #ENF pic.twitter.com/JclrsH8qbj
– Yves La Rose (@EosNFundation) November 2, 2021
Yves La Rose, the “community-elected CEO” of the novel EOS Foundation, raised some major concerns.
“That is not euphemistic, EOS in its current form is a failure. The past three years have been just a decline in terms of market capitalization and token value. If we look at EOS compared to the other cryptos, especially at the Satoshi levels, EOS was a terrible investment. It was a terrible investment, financial, time, and community. The reality is that many people no longer want to be associated with EOS because of their tarnished reputations. EOS in its current form is a failure. “
Consider this: Virginia-based software company Block.one helped EOS launch in 2017 and raised over $ 4 billion through the public sale of the EOS token. However, according to Rose, the ICO’s success was driven by Block.one’s over-promising on future commitments.
“Block.one knowingly misrepresented its capabilities, and that equates to negligence and fraud,” he added.
For this reason “we can no longer rely on Block.one to support and manage EOSIO development.”
Nonetheless, Pierce remains optimistic about the future of EOS.
I’m all-in with the EOS community. Given the progress made by @EosEden and the @EosNFundation, I am optimistic about the future of $ EOS and our ability to have a positive impact on the 🌎. pic.twitter.com/mOz5NeANQU
– Brock Pierce (@brockpierce) November 7, 2021
Well, at least for now, this bullish stance seems to be working in EOS’s favor. At press time, it was up more than 4% in 24 hours and was trading around the $ 4.65 mark.
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