Tezos Plans "Rogue Launch" After Rift with Swiss Foundation
The pre-ICO token may be displaced by a new asset, launched independently by the code owners, the Breitmans.
The new Tezos tokens may arrive within weeks, if the plan of Kathleen Breitman for a “rogue launch” materializes. Breitman, who along with her husband Arthur Breitman own the Tezos code, fell away with the Swiss-based Tezos foundation.
Kathleen Breitman spoke at the Blockchain Lab conference at UCLA, declaring:
“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.”
Investors in one of the biggest ICOs for 2017 had to wait and wonder what would happen to the official tokens, to replace the ERC-20 digital asset that has been traded prior to the planned launch. The uncertainty and scandals have led to unnerving fluctuations in the price of the pre-launch tokens.
The Foundation itself has been sparse on news, and only recently appointed a new board member, Lars Haussman. The promises of the Foundation are much less straightforward when it comes to the actual launch of the ecosystem, despite the fact that the Foundation sits on more than $400 million. The indications on when the project would go live are vague:
“The Board will now focus on setting up operational systems and organizational arrangements for the Foundation, including updating its administrative and accounting processes. These steps will allow the Board to further the Foundation’s central mission, the development and promotion of the overall Tezos ecosystem,” wrote the organization in a blog.
For Tezos, the struggle has been between the legalistic approach of the Foundation, and the need to move fast in the ever-changing world of crypto assets.
Tezos Investors Push for New Board
In the following weeks, Tezos may see renewed enthusiasm, after months of doubts and waiting with worrying price crashes:
Do you still remember that ICO… hmm what was its name… oh yes, @Tez0s. Well, they are planning to release Tezos tokens in the next 4 weeks! About the project: https://t.co/7NbWq2mfOR pic.twitter.com/GTQve0WgMf
— ICO Drops (@ICODrops) February 19, 2018
Even now, the pre-launch tokens are only thinly traded on HitBTC, a rather niche exchange with some technical problems. Time will tell if the new token would take off and become a highly visible digital asset, or if the long months after the ICO have damaged the project and the exchange acceptance would be a struggle.
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