Reports indicate that close to 50% of all the EOS (EOS) tokens have been distributed among ten wallets or addresses. There is a total of one billion tokens and these ten addresses hold approximately 49.67% or 496,735,539 tokens of EOS. About 100 million or 10% of these tokens are in the hands of Block.one.
There is also another address which holds approximately 75 million tokens while another among the top ten holds 20.6 million tokens. It is understood that most of these addresses holding such large amounts of tokens belong to digital currency exchanges such as OKex, Bithumb, Huobi, Upbit, Binance and Bitfinex.
Tokens numbering slightly over 748 million are held by the top 100 addresses and this is a little over 74% of the total token supply. The top 1,000 wallets on the other hand hold tokens numbering slightly more than 858 million. The total number of the holders of the tokens is 162,930.
Initial Coin Offering
This comes in the wake of the firm behind EOS, Block.one, raising over $4 billion in an Initial Coin Offering which took more than one year. According to New Alchemy, a blockchain advisory, this was the largest Initial Coin Offering to ever be held. This year Initial Coin Offerings have raised over $11 billion compared to a figure of $6.4 billion which was raised last year. In 2016 only $88 million was raised in Initial Coin Offerings.
Block.one has not explicitly stated how it intends to use the proceeds generated from the Initial Coin Offering but has also spoken in general terms. For instance the blockchain startup has said the funds will be used to meet operating expenses as well as general administration purposes.
Additionally Block.one intends to invest over $1 billion in developers and entrepreneurs who use its software. The blockchain firm intends to develop a software known as EOSIO which will be availed to developers for their use in building and launching new blockchains.
The number of Block.one employees currently stands at over 200. Block.one at present has officers in California and Virginia in the United States as well as in Hong Kong.
Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.
Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at email@example.com.