Block.one, the publisher of the EOS blockchain protocol, plans to begin staking and voting on EOS initiatives in May.
Announcing the news recently, the company said that its participation is to “ensure maximum network security and constructive participation”.
Block.one reserved 10% of the total EOS tokens during its $4 billion ICO between 2017 and 2018. According to the company, it has been a “relatively silent minority token holder” since then, having abstained from operating nodes or voting. The company said it now holds around 9.5% of the total circulating EOS tokens, since new tokens have been generated and added to the total supply.
EOS is a proof-of-stake network in which EOS token holders can vote to decide which entities (named Block Producers) to produce the next block.
As a first step, Block.one said it will vote for Block Producers (BPs) on the EOS network that “contributed a tremendous amount of code, knowledge, and leadership”.
In the coming weeks, they plan to use the voting stake to begin highlighting and voting for many of these candidates, potentially even in rotation, to showcase these organizations’ achievements, values, and network contributions.
According to the company spokesperson, the top 21 BPs receive votes from over 30% of the outstanding EOS supply. This means that if Block.one chooses to vote with all 9.5% of its token holding, it may significantly impact the voting result.