Their github is probably one of the most active for development and really you only need to know one name to realize that EOS is going to MARS and may be the #1 cryptocurrency in the coming years. DAN LARIMER. He's the bill gates/ steve jobs of crypto right now. In Dan We Trust is a real thing.
Dan will become the best tool and agent of building custom dapps on EOS. It's truly going to be amazing to see what he builds out of the gate and how fast he gets it done. The guys is known for his immensely smart and fast project development.
If EOS released many great DAPPs and changed the world, then it might be worth $12B and be rank 5. The valuation is ridiculous for this stage of the project.
From the official EOS FAQ https://eos.io/faq explains that the EOS tokens have no value or use
""The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.""
A useless erc20 token that will have no actual value on the EOS platform being worth $12B... seems legit........
I previously had the same concerns but I do believe the fact that this token is a place holder to allow them to generate start up funding (and a lot of it). The warnings you rightly identify are to get round the issue of the token being classified as a security etc!
But theres a difference between using an erc20 token "placeholder" to raise a few million and using it to become rank 5. In the future, the EOS platform may be amazing, but the current EOS market cap is insulting to all of the other projects with functioning products. EOS makes it seem too easy, all you need is hype. I should just come out with my own token promising big things, release an erc20, pick a cool name, and go to town marketing it.... months and even years before I come out with any product. Even if EOS was a working platform, in my opinion as a rational investor it would need to change the world to be worth $12B.
I accept your point but all of crypto has valuations based on what it will do in the future, not what it is delivering now. Does bitcoin really deliver hundreds of billions of dollars worth of value today? Or is that value based on hype, speculation and the assumption of what might be tomorrow?
I hope EOS creates many good mobile DAPPs this year, and for years to come