The EOS Network Foundation (ENF), representing the EOS community, is advising its members against accepting a $22 million settlement offered by a company known as Block.one.
This settlement stems from a lawsuit involving former investors of EOS and Block.one. The ENF contends that the proposed settlement amount needs to be revised in relation to what the EOS community rightfully deserves.
According to the ENF’s official statement, “The proposed settlement amount of $22 million represents a tiny fraction of the $4 billion that Block.one raised from the community in its ICO sale and the $1 billion that Block.one promised to invest in the EOS Network and community, but failed to do.”
The ENF actively encourages EOS community members to avoid agreeing to this settlement. They urge individuals to opt out by August 29, 2023, as a collective show of dissatisfaction with the proposed settlement’s insufficiency. Failing to opt out might result in the forfeiture of their potential future legal recourse against Block.one.
This disagreement is part of an ongoing legal dispute between ENF and Block.one. The ENF asserts that Block.one did not honor its commitment to provide $1 billion in investment. The court rejected a prior settlement offer of $27.5 million. The current $22 million settlement pertains to a distinct case.
The proposed $22 million settlement offered by Block.one to EOS community members needs to be revised given the substantial funds raised and commitments made, and community members should refrain from accepting it to uphold their rightful claims.
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