Block.one Negotiations Statement

As most are aware, there are currently negotiations taking place between the EOS Network and Block.one around the vesting schedule that Block.one placed on its 100m EOS token holdings (code located here). As one of the top 21 Block Producers of the network, we would like to voice our position on the current situation.

First of all, we would like to thank Yves La Rose and the EOS Network Foundation (ENF) for their tireless effort in being the voice for the Block Producers in a role we would call stakeholder engagement on steroids. They have been working tirelessly behind the scenes to gather feedback from all parties and work towards a resolution that puts the network first.

The last proposal put forward by Block.one would see that the remainder of their unvested tokens (not including the tokens allocated to Brock Pierce for Helios), which is around ~30m tokens, would be given to the network via the eosio.saving account. Additionally, on the request for the EOSIO IP,  B1 stated that they are not in a position to surrender the IP to the Network due to the IP being held by Bullish and would need to obtain approval from the Bullish stakeholders.

We are glad that Block.one is finally coming to the table by offering to donate their remaining tokens to the network as a first step. However, due to their past performance and their evidently clear move away from supporting EOSIO in the future, in our opinion, it is a very risky deal for the network to have the EOSIO IP tied up in a yet to be launched exchange that does not have the mission statement of supporting the EOS public blockchain or the EOSIO codebase in the future.

If Block.one does not publically commit to actively support the EOS public blockchain and to work with the ENF towards obtaining the EOSIO IP from Bullish to assign it to the Network, then we believe this deal is not within the network’s best interest and would like to continue the negotiations with B1 until middle ground is reached for the EOSIO IP.