When developers imagine launching an ICO, they’re hoping to attract a slew of investors to purchase the offering. In September of 2017, the Great Bitcoin Bubble was starting to take off to the moon, and everyone wanted a piece of the next hot ICO. With most ICOs ending up in million-dollar funding rounds, the industry was primed and ready for the next financial shock and awe event.
In September 2017, EOS found itself in the middle of the largest and most successful ICO of all time. Market conditions conflagrated into a perfect storm that resulted in the firm raising a colossal $4.1-billion in its ICO. That’s the largest ICO in history, launching the EOS team into superstardom.
In the days leading up to the ICO event, the marketing around the token was tremendous. Celebrities and sports stars were endorsing the ICO, attracting plenty of attention to the EOS token.
However, even though EOS has the biggest ICO in history, it’s not without its problems. Most of the shares that govern the blockchain are in the hands of Chinese investors. Global investors are worried about how that will affect the future of the coin.
Block.One, the blockchain company behind EOS, is the largest holder of tokens. Some critics state that the company could annex governance on the blockchain if it felt the need to do so, but it doesn’t want to stir the pot right now.