EOS Network Foundation Outlines Remedies for Block.one’s Commitment Shortfalls

The EOS Network Foundation (ENF) has always been devoted to furthering the interests of the EOS Network and its thriving community. A prevailing concern within this community pertains to Block.one’s unfulfilled pledge of investing $1 billion into the EOS Network and its members. Recognizing the gravity of this issue, ENF has actively engaged with concerned stakeholders in a bid to ensure Block.one’s accountability.

Members of the EOS community keen on participating in these accountability measures have three distinct avenues:

1. US Class Action Lawsuit: A class action lawsuit was initiated against Block.one in the United States and is currently approaching a settlement. Mr. James Koutoulas stands as the plaintiffs’ legal counsel. Should you be inclined to make a claim within this lawsuit or decide to opt-out, Mr. Koutoulas is reachable at james@koutoulaslaw.com. It’s imperative to note that the final date for either lodging a claim or choosing the opt-out route in this class action is slated for August 23, 2023. Further details can be accessed at blockone-settlement.com.
2. Nemesis Venture Capital Initiative: Those community members who opt out of the aforementioned US class action have another recourse. Nemesis Venture Capital is actively considering a settlement agreement with Block.one exclusively for those outside the purview of the US class action. For those eyeing this alternative, opting out of the US lawsuit might be necessary. For more, you can visit optouts.io/eos-class-action-register-now.
3. Prospective Cayman Islands Claim: ENF is deliberating on the feasibility of lodging a claim against Block.one in the Cayman Islands. Much like the Nemesis initiative, this approach might necessitate an opt-out from the US class action for eligibility. Updates on this matter can be sought by reaching out to legal@eosnetwork.com.

However, it is pivotal to understand the implications of the pending US class action lawsuit settlement. If accepted, it would effectively exonerate Block.one from any further claims unless you opt out from the settlement. By not actively lodging a claim or opting out, any rights to future claims against Block.one might be forfeited. Choosing to opt out ensures that while you forgo any compensation from that specific lawsuit, you retain the ability to engage in subsequent claims against Block.one. It’s worth noting that the success of such future claims cannot be assured.

The aforementioned options may not encompass the entirety of available legal actions concerning Block.one’s commitments. Participating in these channels doesn’t necessarily guarantee any financial redress from Block.one. The ENF underscores that this information is purely for enlightening purposes and doesn’t constitute legal counsel. Community members are strongly advised to seek independent legal consultation to make informed decisions regarding any actions against Block.one.

Yves La Rose
Founder and CEO, EOS Network Foundation