EOS Founder Calls for A Rebranding, Network Pivots to DAO And Moving Away From Block.one

EOS Founder Calls for A Rebranding, Network Pivots to DAO And Moving Away From Block.one

EOS founder Daniel Larimer is now calling to reshape the EOS brand and turn to the latest hot trend in the crypto market, decentralized autonomous organization (DAO).

“It's time to rebrand EOS and have a renewed vision and purpose that can motivate community engagement and investment in growth,” he said in a Telegram channel. “Not just the name but adding clarity to the vision and purpose. EOS is the biggest DAO,” he added.

Earlier this year, Larminer announced his departure from Block.one, which raised $4 billion to build the software behind the EOS blockchain. As of writing, EOS is a $3.3 billion market cap coin trading at $3.40, down 85% from its all-time high three years ago.

The community has been disappointed by Block.one’s commitment to the EOS blockchain, given that the social media platform called Voice and the decentralized exchange Bullish both won’t be running on EOS.

This week, the EOS community elected to stop the ongoing payments to Block.one over claims that it is not working in the best interests of the network.

The issuance of 67 million EOS (worth less than $230 million) that was to be distributed over the next 6-7 years has been stopped.

“This begins a new era for EOS and highlights the power of the blockchain to enable a community to stand up against corporate interests that don’t align with theirs,” said Yves La Rose, the community-elected EOS Network Foundation CEO Yves La Rose at the time.

The foundation was formed just a few months back by existing EOS members and block producers. Last month, La Rose outlined his plans for the network, including a shift away from Block.one.

The same month, Block.one sold 45 million EOS to Helios, a new fund set up by Brock Pierce, co-founder of Block.one.

On Friday, La Rose wrote that the majority of the top 30 block producers (BPs) have met to discuss if ongoing negotiations would be possible with Pierce and Brendan Blumer.

In this statement, La Rose said it’s not 45 million tokens being sold that is the concern, rather that only 8 million of them were vested.

“Through the current means of consensus it was determined that the vesting tokens legally and rightfully belonged to the network. Block.one attempted to sell the rights to assets it did not own without consulting the rightful owners,” he said.

The statement concluded that the ENF would continue to “lead the EOS Network as the representatives of the largest DAO in the world” while welcoming new investors, developers, and businesses.

EOS price

1 EOS/USD =1.1175 change ~ 2.09

Coin Market Cap

1.21 b

24 Hour Volume

98.33 m

24 Hour Change