According to Foresight News, the EOS Network Foundation urged the EOS community to reject the Block.one settlement agreement, arguing that the settlement is not in the best interests of the EOS network and the entire EOS community. The settlement fails to adequately compensate community members for the losses they have suffered due to Block.one's misrepresentations and bad behavior, and prohibits class members from seeking fair and equitable claims resolution in the future.
Block.one raised $4 billion from the community in its ICO sales and had promised to invest $1 billion in the EOS network and community, but did not deliver on that promise. Under the terms of the settlement, community members who join the settlement will not be able to make any future claims against Block.one and its founders, and Block.one will pay $22 million. The deadline to opt out is August 29, 2023, and community members who fail to opt out by this date may be automatically included in the class action lawsuit.
