The company Protocol Labs, which is developing The project of decentralized filecoin file storage, and its investors had a conflict over the distribution of tokens.
In 2017, Protocol Labs organized an ICO of the Filecoin project, during which it raised $205 million. Then the company raised another $52 million at the stage of pre-financing. According to the Axios report, not all direct investors of Protocol Labs participated in the ICO. The company had to keep a certain percentage of tokens that could bring profit to direct investors in the future.
However, according to various sources, the CEO of Protocol Labs, Juan Batiz – Benet, unilaterally redistributed most of the tokens in his favor and in favor of the employees who worked on the project. It is assumed that Batis-Benet continued to distribute tokens in this way for several more years. Sources claim that the tokens were not distributed among shareholders.
“It seems to me that Juan Batis-Benet acted without malice. He actually wanted to lead the project to success, but he was too young and trusting,” one of the investors said in an interview with Axios.
The” roadmap ” of the project, published in July, States that the launch of the network should take place from 7 to 21 September. However, in February, the developers of Filecoin announced that the network will be deployed between June 15 and July 17. Last month, the launch of the final phase of the Filecoin test network was postponed. This means that the project will have to move the launch date of the main network due to testing delays.
However, Axios believes that the launch of the main Filecoin network is delayed precisely because of disagreements between investors and Protocol Labs. Proceedings with the company began last week. Protocol Labs investors were offered Filecoin tokens in a smaller volume than they expected. To date, it is not known whether all investors have agreed to the proposed terms.
The CEO of Ether Capital, Brian Mosoff, called Filecoin an “ambitious” project with a large number of complex tasks that will take time to solve. He compared this project to Ethereum 2.0, adding that he considers Filecoin and the InterPlanetary File System (IPFS) as the data storage layer for Web3.
“Protocol Labs cooperates with high-quality researchers and developers. Any delays may be due to technical difficulties in order to present a quality final product, ” Mosoff said.
Recall that in April, Protocol Labs updated the IPFS Protocol, which allowed faster routing and data exchange between network nodes.