When was EOS issued? Learn about the origin of EOS in one article

The EOS token was initially released through an Initial Coin Offering from June 26 to July 1, 2018, raising approximately $4 billion for its development.

Oct 25, 2024 at 04:12 pm

EOS: Origin and Issuance1. Genesis of EOS

EOS emerged as a blockchain project founded by Block.one, a software company led by Brendan Blumer. Its development began in 2017 with the intention of addressing limitations within existing blockchain platforms, such as scalability, transaction speed, and user experience.

2. Issuance Details

The EOS token (EOS) was issued through an Initial Coin Offering (ICO) held from June 26 to July 1, 2018. During this period, Block.one sold a total of 1 billion EOS tokens, raising approximately $4 billion in funds.

3. ICO Distribution

The ICO proceeds were allocated as follows:

50% allocated to Block.one for development and operations.
25% distributed to ICO participants.
20% designated for the EOS ecosystem and future development.

4. Distribution Timeline

The distribution of EOS tokens to ICO participants followed a schedule:

75% of tokens were vested over a one-year period.
25% of tokens were released immediately.

5. Post-ICO Development

Following the ICO, Block.one continued to develop the EOS blockchain platform, releasing its mainnet in June 2018. Since then, EOS has undergone significant enhancements, including the introduction of smart contract functionality and the implementation of the Delegated Proof-of-Stake (DPoS) consensus mechanism.

6. Conclusion

The EOS token was first issued in June 2018 through an Initial Coin Offering. The funds raised from the ICO were used to develop the EOS blockchain platform, which has evolved over time to address scalability and user experience challenges in the blockchain industry.

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