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RE: What does this mean?

in #eos7 years ago

Hello @cryptographic,

Accumulating 15% of EOS tokens is a myth.
Total Supply : 900,000,000 EOS
One EOS : 7.87 USD
15% EOS Supply : 135,000,000 EOS
15% EOS Worth : 1,062,450,000 USD

I'm confused with these figures.

21. When will I receive native cryptographic tokens on the EOS Platform?
As mentioned above, EOS Tokens will become fixed (non-transferable) on the Ethereum blockchain within 23 hours after the end of the final EOS Token distribution period which will occur on June 1, 2018 at 22:59:59 UTC. At this point the EOS Token distribution process will be complete and any person who wishes to launch an EOS Platform adopting the EOS.IO Software will be able to generate a JSON file mapping EOS public keys to the fixed balances of the EOS Tokens from the state of the Ethereum blockchain.

The EOS.IO Software is built such that any EOS Platform that adopts the EOS.IO Software will require approval of holders of not less than 15% of the total issued and outstanding EOS Tokens before tokens on such blockchain (the “Blockchain Tokens”) can be transferred. In other words, if the EOS.IO Software is adopted, it will be the responsibility of holders holding at least 15% of the issued and outstanding EOS Tokens to adopt one or more blockchains in order for Blockchain Tokens received on such blockchains to be transferrable.

As block.one will not configure and/or launch any EOS Platform, block.one will have no control over when, how or whether the EOS.IO Software is adopted or implemented, or how, when or whether the EOS Platform is launched. As such, you should not expect and there is no guarantee that you will receive any other cryptographic tokens or digital assets now or in the future.`

Source :- https://www.eos.io/faq.html

~@mywhale

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Total Supply = 1,000,000,000 EOS
100,000,000 were kept for the developers. These 100,000,000 EOS tokens are attached to voting rights as well. That means that the Block.one team and all the developers around them do own exactly 10 % of the total EOS network and 10% of the voting power, which is fair. Once EOS will be launched, they will not be able to impose or manipulate any consensus with 10 %.
15 % for a consensus being reached for launching a new chain is not a lot. That means that a small minority of the community is allowed to launch a project. No majority required as we are used to. What is unfair ?
That means even if the complete block.one team would like to launch a chain on EOS, they would not be allowed to do so if nobody follow them as they do not own 15 % of the tokens. Unfair ?
T.