The media learned about the …

The media learned about the …

Media Hears of Investor Conflict Delay in Filecoin Mainnet Launch

Protocol Labs, behind the development of the Filecoin blockchain project, has become involved in a dispute with its direct investors due to controversies regarding the distribution of tokens..

According to Axios, not all of Protocol Labs’ direct investors took part in the company’s token sale in 2017, when it raised $ 205 million.The company was supposed to keep the tokens that would generate income for investors. However, sources state that a significant proportion of such tokens were unilaterally reallocated by Protocol Labs CEO Juan Batiz-Benet in favor of himself and early employees at less than a cent each. It is assumed that in this way the tokens were transferred for several years after the end of the sale.

According to Axios, an investor conflict with the company caused the project to be delayed. According to the latest information, the start of the main network is scheduled for mid-September, but back in June, the date of August 20 was named as the final date..

Investors spoke to Axios on anonymity basis due to the ongoing legal process. “I don’t think Juan acted maliciously. He sincerely wants to be successful in this business, but he was young and simple-minded, “one of them said..

The media learned about the ...

The proceedings began last week and are currently in their final stages. Investors in Protocol Labs are expected to receive Filecoin tokens, but in less volume than originally requested. Whether all of them signed an agreement on the proposed terms is unknown.

“I see Filecoin and IPFS as a storage layer for Web3,” said Ether Capital CEO Brian Mosoff, who has invested in the token sale. – Like Ethereum 2.0, this is an extremely ambitious project with a lot of difficulties that take time to work through. Protocol Labs has assembled a best-of-breed research and development team. Any delays are probably due to innovative technical solutions for the benefit of the final product. As for the proceedings, without joining any of the parties, I would say that this is just noise “.

The media learned about the ...
The media learned about the conflict with investors ...

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