Based on a white paper published in 2017, the EOSIO platform was developed by the private company Block.one and released as open-source software on June 1, 2018.
The CEO of Block.one, Brendan Blumer, announced that the company would support the EOSIO blockchain with over one billion USD in funding from the token sale and ultimately Block.one raised over four billion USD to support the blockchain during the initial coin offering (ICO) period.
[3] In September 2019, Block.one agreed to settle U.S. Securities and Exchange Commission charges related to the $4 billion unregistered ICO for a $24 million penalty.
[10] Block.one is a company registered in the Cayman Islands, which began offering EOS tokens in June 2017 to the public, raising over $4 billion (a record for an ICO).
[citation needed] On December 6, 2017, Everipedia, a for-profit, wiki-based online encyclopedia, announced plans using EOS blockchain technology and work on an airdrop of a cryptocurrency called IQ to encourage generating information.