Blockchain software developer block.one, the developer of EOS.IO software – a new blockchain operating system designed to support commercial-scale decentralized applications – has successfully received 651,902 ether (approximately US$185 million) in the first five days of its 341-day long token distribution. In exchange, 200 million EOS ERC-20 compatible tokens have been distributed to purchasers – 20% of the one billion EOS Tokens being distributed.
The distribution of EOS Tokens began on June 26th 2017. The distribution uses a token participation model intended to be the fairest token distribution project on Ethereum. Its elongated timeframe aims to eliminate the quick frenzy usually surrounding short token sales, and allows the community ample time to learn about the EOS.IO software being developed by block.one and participate in the token distribution if they choose to.