At UCLA Blockchain Lab’s Cyber Days conference on Sunday, Kathleen Breitman promised to “go rogue” and press ahead with the platform launch. If the Tezos co-founder has her way, “tezzies” tokens will be available in a matter of weeks.
— Steph Vaughan (@GoodStephV) February 18, 2018
Tezos investors wondering when the project will see the light of day have finally received some good news. The Tezos story is a convoluted story, that could very well make for a great movie script, a tale involving lawsuits, broken promises, and a foundation president many have alleged is crazy.
To summarise it as briefly as possible the story revolves around one of last year’s biggest ICOs. The Tezos Foundation’s president, Johann Gevers, has been accused of running a dictatorship and the launch has been delayed indefinitely. The affair has been a deeply upsetting one for Arthur and Kathleen Breitman, who had been hailed as exemplary entrepreneurs after raising $232 million. Like their investors, they’re eager to get the project off the ground as soon as possible.
At a UCLA conference on Sunday, Kathleen Breitman boldly declared:
We plan on releasing the token and going rogue in the next few weeks. We’re able to release the token on our own terms. For awhile I felt like I was being ‘gaslit,’ but then I unburdened myself of the morality of it. Things needed to move forward. It’s unfair, but we need to ship the code.
First crypto project to have forked before its launch.
Pre-launch XTZ futures tokens have risen dramatically on the news up to $3.27 at the time of writing, although tezzies are still down substantially from their December peak of around $12. Many in the Tezos community expect the token will rapidly rise once it is launched as it will be one of the first Proof of Stake tokens and also one of the most heavily backed ICOs. In another first it could become the first crypto project to have forked before its launch.
The rift is evident on Twitter, where there’s a choice between the Tezos account (which has been silent since September), the Tezos Foundation account, whose president is the polarizing Johann Gevers, and then the Breitmans’ T2 Foundation, which is “committed to making sure that the @tez0s network has an adequate, safe, and timely place to launch.”
Woah – didn’t see this one coming!
If Tezos pulls this off, they could be the first major proof of stake-based network to launch (before Ethereum, EOS, and Cardano).
Even with their foundation problems seemingly still unsolved, this would be a major statement. https://t.co/b9AQTDI6I6
— Spencer Noon (@spencernoon) February 18, 2018
Even when they launch independently of the Tezos Foundation, it still has control of all the funds and the XTZ tokens. Coupled with the pending lawsuits that both the Foundation and the Breitmans are facing, and it’s obvious the whole affair is a mess. Before the governance-focused blockchain project can launch, Tezos’ founders still have many problems to overcome, but many in the Tezos community still feel this is the best option to break the deadlock.