ENF Instituting Formal Litigation Proceedings Against Block.one

We are aware that many members of the EOS community feel that Block.one has not kept its word regarding past promises and that both the community and individual EOS users have been harmed as a result. As we announced previously, in November and December 2021 we engaged in negotiations with Block.one to attempt to arrange a fair and reasonable resolution with Block.one that would position the EOS community for future success. Unfortunately Block.one decided to walk away from the negotiations and as a result the EOS Block Producers determined it was in the best interest of the community to freeze the vesting of all the EOS tokens that Block.one was to earn in the future.

We have continued to engage with community members and stakeholders on this issue and what we have heard is that the community supports the Foundation taking further steps toward holding Block.one accountable for its past actions and broken promises. Accordingly we have retained a leading Canadian law firm to investigate Block.one’s past actions and promises vis-à-vis the EOS community and EOS investors to determine what legal avenues are available to seek redress. This will include a review of all possible legal recourse including, but not limited to, instituting formal litigation proceedings against Block.one. We will keep the community updated as this investigation progresses.

EOS Network

The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal web3 user and developer experiences. EOS is the flagship blockchain and financial center of the EOSIO protocol, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).

EOS Network Foundation

The EOS Network Foundation (ENF) is a not-for-profit organization that coordinates financial and non-financial support to encourage the growth and development of the EOS Network. The ENF is the hub of the EOS Network, harnessing the power of decentralization as a force for positive global change to chart a coordinated future for EOS.