By the time we publish this issue, the year-long ICO for EOS tokens orchestrated by Block.one would have ended, raising in total north of $4B worth of ether. To put things in perspective, there have been only two IPOs (with a "P") that have raised more capital in 2018 so far, as the author points out.
On June 2nd Block.one has also released
v1.0 of the EOS.IO Software under an open-source licence. From now on it will stop
operating it, retaining 10% of all EOS supply and 100% of the proceeds raised, without having yet clearly outlined uses of capital, beyond committing to a number of ecosystem funds to the tune of $1B.
No lack of last minute drama either, with news of 'epic vulnerabilities'
in the code spreading online this week suggesting the long awaited launch could be delayed. The Twitter EOS account denied the delay saying most bugs had already been fixed, while Dan Larimer offered
$10k in bounties for finding other 'critical bugs'. Not to mention the dozens of EOS related scammy phishing emails
that we all got in the last few days, and many fell for sadly.
In the meanwhile, we keep scratching our heads, but perhaps we are just too old school: with the Ethereum network at a unique junction
, the real Dapp platform war is probably just about to unfold and may indeed be played according to a whole new set of rules. 🍿
PS: Tezos betanet
is also coming very soon.
PPS: Stefano is still massively skeptical about the $4B sum, given the rolling nature of the offering and the opportunities for arbitrage, but Block.one clearly states in the EOS FAQ
that they would not engage this practice, promising an independent 3rd party audit at some point.
Would be really nice for total transparency to have an official final sum from the company verified by reputable auditors.
If the $4B value is true, then this was the most masterful fundraise ever created, with the daily sale auction gimmick.