Non-profit organization EOS Network Foundation plans to recover $4.1 billion from Block.one, which launched the EOS project. Yves La Rose, the head of the organization, has written:
“We are taking further steps to hold @B1 accountable for its past actions and broken promises against #EOS. Review of ALL possible legal recourse to seek $4.1B in damages underway. Let’s do this together! #4BillionDAO coming.”
The EOS Network Foundation is reportedly partnering with an unnamed Canadian law company “to investigate Block.one’s past activities” and determine “available legal remedies.”
Recall that Block.one raised $4.2 billion in an ICO in 2018. The company was supposed to pay 100 million EOS (around 10% of the issue) over 10 years for supporting the project. According to the EOS Network Foundation, in the following years, the community became frustrated with Block.one’s commitment to the blockchain in terms of real-life use cases.