RE: EOS ICO Explained - Full Details of Token Issuance

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RE: EOS ICO Explained - Full Details of Token Issuance

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sherlock2 (40)in #eos • 7 years ago

I can't play the video now, but can you please tell me when ico is starting?

7 years ago in #eos by sherlock2 (40)

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crypto-investor (61) 7 years ago (edited)

Monday - 341 days it lasts, though

$0.04

2 votes

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nutela (61) 7 years ago

Although 10% to the founders seems quite steep the 10 year period seems fair. The technology looks promising seeing it works so well here in Steemit. As far as I can tell that is, still quite new here.

Why are founders EOS Tokens being reserved for block.one?
Founders tokens were allocated to block.one pursuant to feedback we received from the community in order to ensure that block.one has aligned interests with those participating in the EOS Token distribution. The founders tokens represent 10% of the aggregate EOS Token distribution (or 100,000,000 EOS Tokens) (the “Founders Tokens”). The EOS Token distribution smart contract does not permit block.one to trade or transfer the Founders Tokens during the EOS Token distribution period.
If an EOS Platform adopting the EOS.IO Software is launched, the default EOS.IO Software configuration developed by block.one will lock new founders tokens distributed pursuant to such EOS Platform in a smart contract and release 10,000,000 (10%) of such tokens to block.one at the end of each one year anniversary of the genesis block over a period of 10 years. As mentioned above, the EOS.IO Software configuration of the EOS Platform will be ultimately determined by the community when someone other than block.one initializes a genesis block and starts a blockchain.