The investors have asked the New York Supreme Court to summon the the Elastos Foundation and team members, as well as Huobi and its US partner, HBUS, to answer their complaints, according to a leaked summons filing.The filing alleges that ELA tokens were sold on the premise that they were an investment, which would increase in value as Elastos developed its ecosystem and user demand increased.
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”The announcement came in the form of a blog post, in which Elastos announced the “Modification” of its token lock-up program.“After consulting with trusted advisors within the Elastos ecosystem, including legal experts,” wrote founder Rong Chen on the official Elastos blog, “we have made the decision to unwind our lock-up program and end it early.
Special Author | Xiao ShuaiIntroductionIn 2018, the year of the blockchain, new blockchain projects are as plentiful like fresh sprouts after the first rain in Spring.In 1992, he participated in the operating system group of the Microsoft Research Institute in the United States, developed a component-oriented operating system, and participated in the planning and development of a service-oriented (SaaS) operating system (.
The benefits of the Elastos Foundation are therefore directly aligned with those of the Elastos community.In connection with the Elastos Public Token Sale, the Elastos Foundation is offering contributors of the Elastos tokens a position-locking plan, detailed below, allowing Elastos token contributors the opportunity to commit all or some of their Elastos tokens to an escrow account managed by the Elastos Foundation, which position-locked tokens will earn an annual rate of return, described in detail below.