Tezos could begin the distribution of its tokens after seven months of waiting
After innumerable lawsuits and a delay of seven months in the delivery of the token, the board of directors of Tezos announced to the investors that it is possible that in the next few days the distribution will begin.
The news was announced by Kathleen Breitman, CEO of Tezo, who took advantage of the second day of the Cyber Days conference at the UCLA Blockchain Lab to give new details about the tokens.
On this occasion, who was the co-founder and executive director of Tezos, informed its investors about the process of distributing tokens, although it did not establish precise deadlines, added:
We plan to launch the token and reveal it in the coming weeks. We can release the token on our own terms ... For a while I felt that I doubted myself, but then I freed myself from that morality. Something necessary to move forward. It's unfair, but we have to send the code.
Kathleen and Arthur Breitman, still own the source code of Tezos through a Delaware-based company, but the Tezos Foundation controls all the funds raised and the XTZ tokens. This model of governance has made many doubt, because it is rare for a foundation to pay to acquire a company. On the other hand, the director of the foundation, Johann gevers, has been in disagreement with the founders.
Apparently the distribution process was slowed by various legal disputes involving the Kathleen and Arthur Breitman.
Added to this conflict is the low participation of developers, as it was reported that 30 specialists would participate in the process and only 8 have been included in the project because the Tezos Foundation retains the funds, according to Arthur Breitman.
TEZOS A MONTHS BACK
The conflict and the accusations against Tezos are already in the arena for about a year, all because the token has not been liquidated and remember that this Initial Currency Offer (ICO) reached a collection of more than 232 million dollars at the time, after receiving 65,627 BTC and 361.122 ETH, a much larger figure now.
This sale that began on July 1, represented in the market a new top of collection of an ICO, leaving behind the position reached by Bancor or EOS.
HOW DOES THIS NOVEL BEGIN BEHIND TEZOS?
After having achieved the highest collection in ICO, the logical thing, for many of its investors was that the settlement date will be announced, since everyone had invested their income to acquire their desired tokens, but this never happened. From there, the rain of demands began to arrive.
One of them is that of Restis Law Firm, P.C. and Lite DePalma Greenberg LLC. Those who filed their complaint with the United States District Court to support the petition of GGCC, LLC and other citizens and entities that invested BTC and ETH in the Tezos Initial Currency Offer.
Recently, the president of the Tezos Foundation, accused numerous times of withholding funds from the collection, showed the possibility of resigning after paying his creditors.