The EOS Network Foundation Urges Community Members to Reject $22 Million Settlement
The EOS Network Foundation (ENF) has advised its community members to reject the $22 million settlement proposed by Block.one in an ongoing class-action lawsuit. ENF claims that this settlement undervalues the amount owed to the EOS community, considering the $4 billion raised during the ICO and the unfulfilled promise of reinvesting $1 billion into the EOS network ecosystem.
Key Points:
1. Block.one’s proposed settlement of $22 million is a fraction of the funds raised during the ICO and the promised investment in the EOS network.
2. ENF warns that accepting the settlement may prevent community members from taking further legal action or seeking a better resolution in the future.
3. The foundation urges community members to opt out of the settlement to send a strong message to Block.one and the court about the inadequate compensation.
4. By participating in the settlement, community members will forfeit any future claims against Block.one and its founders.
5. Block.one has not yet responded to requests for comment.
Hot Take
The EOS Network Foundation’s advisory and opt-out form highlight the dissatisfaction within the EOS community regarding the proposed settlement. It raises concerns about the inadequate compensation and the potential limitations on future legal actions. This situation underscores the importance of community members standing up for their rights and ensuring fair treatment in the crypto space.
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