{"id":57527,"date":"2022-02-10T20:06:25","date_gmt":"2022-02-10T18:06:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57527"},"modified":"2025-09-04T12:12:09","modified_gmt":"2025-09-04T09:12:09","slug":"eos-network-foundation-to-seek-4-1-billion-from-block-one","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/eos-network-foundation-to-seek-4-1-billion-from-block-one\/","title":{"rendered":"EOS Network Foundation to seek $4.1 billion from Block.one"},"content":{"rendered":"<p>The EOS Network Foundation, a non-profit organisation, intends to seek $4.1 billion from Block.one, which launched the EOS project.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As Founder of <a href=\"https:\/\/twitter.com\/EosNFoundation?ref_src=twsrc%5Etfw\">@EosNFoundation<\/a> I share your frustrations! We are taking further steps to hold <a href=\"https:\/\/twitter.com\/B1?ref_src=twsrc%5Etfw\">@B1<\/a> accountable for its past actions and broken promises against <a href=\"https:\/\/twitter.com\/hashtag\/EOS?src=hash&#038;ref_src=twsrc%5Etfw\">#EOS<\/a>. Review of ALL possible legal recourse to seek $4.1B in damages underway. Let\u2019s do this together! <a href=\"https:\/\/twitter.com\/hashtag\/4BillionDAO?src=hash&#038;ref_src=twsrc%5Etfw\">#4BillionDAO<\/a> coming<\/p>\n<p>\u2014 Yves La Rose (@BigBeardSamurai) <a href=\"https:\/\/twitter.com\/BigBeardSamurai\/status\/1491758599395180548?ref_src=twsrc%5Etfw\">February 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are taking further steps to hold Block.one to account for its past actions and unmet promises regarding EOS. All available legal avenues are being considered to secure $4.1 billion in damages. Let\u2019s do this together! The #4BillionDAO is coming,\u201d wrote Yves La Rose, the head of the EOS Network Foundation.<\/p>\n<\/blockquote>\n<p>In a blog post, the EOS Network Foundation says it is working with an unnamed Canadian law firm \u201cto investigate Block.one\u2019s past activity\u201d and to determine \u201cavailable legal remedies.\u201d<\/p>\n<p>In 2018 Block.one raised $4.2 billion in an <a href=\"https:\/\/forklog.com\/en\/news\/what-is-an-ico-and-can-you-profit-from-it\">ICO<\/a>.<\/p>\n<p>For backing the project, Block.one was due to pay 100 million EOS (about 10% of the issuance) over ten years. According to the EOS Network Foundation, in the following years the community grew disillusioned with Block.one\u2019s commitment to the blockchain in terms of real-world use cases.<\/p>\n<p>Block.one launched the social network Voice, but it turned out not to run on EOS, as did the later <a href=\"https:\/\/forklog.com\/en\/news\/block-ones-bullish-bitcoin-exchange-launches\">Bullish bitcoin exchange<\/a>.<\/p>\n<p>In August 2021, EOS participants and block producers formed the EOS Network Foundation. It was led by La Rose, who previously led the block producer EOS Nation.<\/p>\n<p>In a keynote address he said that Block.one had let EOS down and that a new path for the project\u2019s future direction must be found.<\/p>\n<p>The organisation sought Block.one to transfer the IP rights to EOS. Instead Block.one promised to allocate 30 million EOS to the EOS Network Foundation.<\/p>\n<p>In December <a href=\"https:\/\/forklog.com\/en\/news\/eos-community-halts-payout-of-230-million-to-block-one\">the EOS community decided to halt regular payments to Block.one<\/a>, saying it no longer acted in the network\u2019s interests.<\/p>\n<p>The vote halted the release of 67 million EOS tokens (about $234.5 million), which were due to be distributed over the next six to seven years. The move also affected Brock Pierce, co\u2011founder of Tether and Block.one.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full stream of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EOS Network Foundation, a non-profit organisation, intends to seek $4.1 billion from Block.one, which launched the EOS project.<\/p>\n","protected":false},"author":1,"featured_media":57528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1850,817],"class_list":["post-57527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-block-one","tag-eos"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57527"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57527\/revisions"}],"predecessor-version":[{"id":57529,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57527\/revisions\/57529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57528"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}