Here we go! B1 (Block.one) have just unstaked all their vested EOS in anticipation for the B1 event being held on June the 1st. Dan Larimer mentioned below.
“Hey All, we just unstaked our vested EOS to facilitate new internal policy and strategic initiatives. Rest assured we have no plans to sell any EOS at this time.”Daniel Larimer
Looking at the b1 account we can see that 9,800,0000.00 EOS are currently refunding.
And here’s the transaction as shown on bloks.io
A range of emotions from fear to excitement are permeating throughout the EOS community on Telegram and Twitter as I write this article.
Given the recent form from the major crypto media outlets I wouldn’t be surprised if they try to use this as an opportunity to FUD EOS, even though Dan specifically mentioned “Rest assured we have no plans to sell any EOS at this time”.
So the big question on everyones lips is… WHY
Why did B1 just unstake 9.8 million EOS? There seems to be an almost endless range of possibilities floating around the community at the moment. Let’s explore some….
Stella from pixEOS and Rob Finch from Cypherglass both speculate that B1 could be unstaking the tokens to allow them to be used as a UBI (universal basic income) or URI (universal resource inheritance). This is something Dan has spoken about numerous times in the past and has even written a detailed blog post about.
The thing with UBI is it would require a solid identity solution to withstand sybil attacks. Dan has mentioned a concept he has referred to as “proof of life” which would require a social interaction to prove the individual is unique and actually alive.
As well as a great way to distribute wealth across generations, UBI would be one of the best marketing and user acquisition strategies around.
Resources for a B1 dApp
Many times Dan Larimer has mentioned he intends to eat his own dog food, in other words he plans to build his own products on top of the EOSIO software created by himself and B1. Could they be unstaking to allow the ability to move the resources to a new location (maybe a sidechain) to run their soon to be released social media dApp?
Recently we’ve seen a huge shift in the top 21 rankings, which is concerning to say the least. Could B1 be about to use a portion of their 10% stake to vote for block producers whom they determine to be acting in the best long term interests of token holders? I’d be surprised if they used all their 10% for this as it would be seen by many as a centralised move, but maybe they will use a small portion of the 10% to help the current BP collusion issue. Brendan Blumer has stated before that they will act if absolutely necessary.
The last possibility is that B1 could burn a portion of their tokens. This would decrease the supply of EOS and in turn increase the value to token holders. I have also heard there could be some legal advantages in doing so. Ashe Oro from EOS Radio likes the idea of a token burn.
What Do I think?
My best guess is that B1 is moving their tokens to either another account or a side chain to use for resources to run an upcoming dApp which they will launch on June the 1st. If I’m right we can expect a huge amount of interest and adoption to come!
I guess we’ll have to wait till June 1st to find out. EOSwriter will be sure to keep you updated on any developments as we move closer to the June event.
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