Brendan Blumer & Brock Pierce fly to Canada for urgent talks with Yves La Rose – EOS By DailyCoin

Brendan Blumer & Brock Pierce are flying to Canada for urgent talks with Yves La Rose – EOS

The war between the Foundation and B1 for control of EOS switched from cold to warm this week when Yves La Rose fired another volley at B1. This came after meeting the CEO of B1, Brendan Blumer, and the former B1 shareholder and founder of the new EOS VC, Helios, Brock Pierce.

The face-to-face meeting in Canada was the latest attempt at a peaceful reconciliation between the network block producers ENF and EOS with B1. The conflict is a debate over ownership of 10 million EOS that are transferred to Block.one (now B1) each year. B1 has accumulated around 30 million EOS from this vesting process. Many in the community, including allegedly the block producers, believe that the tokens not transferred should not belong to B1 and should not belong to B1.

“The core of the disagreement and the reason for the negotiations is that B1 believes that the (vested) tokens they sell belong to them, while the network, by consensus as it exists, believes the opposite, these tokens do not belong to B1 “- said La Rose.

“The network could remove the vesting code and the network believes it is entitled to do so. B1 disagrees. We stand still and try to find a compromise where the network got something in exchange for these vesting tokens. ”The important part of La Rose’s quote here is where he says B1 as the sale of the untransferred or pending ones EOS token describes. B1 has agreed to transfer EOS 45 million to Helios – Pierce confirms the tokens are illiquid and will expire over seven years.

Another tweet in response asks the obvious question:

Then, just at the time of writing, Brock confirmed this himself:

Many had speculated that Pierce had attended the meeting to discuss Helios’ potential to launch an EOS ETF. However, sources close to B1 have told us that they suspect a major deal has been set in motion ahead of this meeting, and this may have included Pierce swapping some or all of his B1 shares for the untransferred EOS.

In the future, a better, more transparent model for this type of enterprise could perhaps be drawn from TLOS. They raised $ 8 million from five private investors who agreed to buy 1.7% of the total token offering for $ 1 since TLOS was trading at $ 0.90 – and a premium of 0 Paid $ 10.

Ultimately, a protracted fight or disagreement is of no use to anyone in the EOS community, it is actually the very last thing they need. Should B1 get on their heels and insist they own the remaining 70 million EOS, half of which they sold to Helios, it will be difficult for the ENF to accept those terms. The reason for this is the combined downward pressure on the seller side. Large investments in the EOS ecosystem with EOS will increase the pressure to sell. This is natural because companies that pay their employees in EOS usually convert their employees to at least some of it in fiat to pay their bills, and they definitely need to convert it to fiat to pay their taxes.

Should B1 offer the network a monetary value for the remaining uninvested tokens in USD or USD, then this would at least offset ongoing selling pressure. It should be apparent that all parties to this disagreement ultimately share the same ambitions of increasing EOS market cap and advancing the network’s goals.

It is tedious to determine whether B1 has legal ownership of the untransferred EOS or whether the community can take control. So a compromise seems to be the preferred option and we know the discussions are ongoing. However, should a compromise not be possible, both sides appear ready to intervene, with Helios stuck in the middle. It appears that Pierce made a sacrifice in this deal; maybe financially. It seems, therefore, that its intentions are good, if that is true it could be a massive boost to the entire EOS ecosystem.

La Rose said today

“If somehow an agreement is reached, this chapter has to be closed forever – and that’s why it’s so difficult …” has to be propositional and / or larger than stopping the transfer. “” It’s not just about reaching an agreement for that particular one It is a peace agreement that takes the past into account and leads us peacefully into the future. ”The dispute represents an intensification of the power struggle in the heart of EOS EOS community. On the other hand, B1 is very valuable, but mostly only for its shareholders, not customers. Both have been active in the market but are moving in different directions. The ENF, along with Pomelo and Eden on EOS, have Helios’ intervention, with an initial EOS of 8 million (US $ 39 million) from B1, aroused as much suspicion as it did excitement understandably pointed out that B1 is yet to fulfill its promise to endorse pomelo – the latest on a long list of failed promises – as yet another reason to question its reliability.

The rhetoric that emerged from La Rose was as aggressive as it could be. He has repeatedly described B1’s actions as “fraudulent” and called on the EOS community to split off from B1. They show no signs of it. With the much-vaunted Bullish that secured the license in Gibraltar, they say they remain committed to the blockchain. At least every five minutes or so.

One thing is clear: the tug-of-war over EOS added little to its worth. At the time of writing, EOS is down more than 12% over the course of the day, although other cryptocurrencies including Bitcoin have suffered as well. Whatever B1 says, the broken promises and suspicions of the past weigh heavily on EOS. B1’s presence appears poisonous to both the existing EOS community and those looking at EOS. With B1 showing no signs of standing aside, overcoming could be the biggest hurdle to EOS success.

EMAIL NEWSLETTER

Join in to find out the downside of crypto

Update your inbox and receive tips from our DailyCoin editors straight to your inbox once a week.

[contact-form-7]

You can unsubscribe at any time with just 1 click.

Read on on DailyCoin