Fetch.ai Seeks $120M Token Return from Ocean Protocol

On the middle of the difficulty is a considerable amount of Fetch.ai’s FET tokens, which the 2 events are working to return as a part of a decision.

Fetch.ai introduced on October 23 that it might cease all authorized motion in opposition to Ocean Protocol Basis if 286 million FET tokens had been returned. These tokens had been reportedly moved throughout a merger between the 2 tasks.

Talking throughout a reside dialogue on X Areas, Fetch.ai’s CEO Humayun Sheikh stated the subsequent step can be a proper written provide. Sheikh stated, “They’re anticipating a authorized proposal from us for the return of the tokens”. He added:

The provide is easy: give my neighborhood again the tokens. I’ll drop each authorized declare.

To additional assist the settlement, Sheikh additionally stated that Fetch.ai would cowl the authorized prices related to finalizing the contract.

He famous that the official doc might be prepared as early as October 24.

In line with a submit on X by GeoStaking, a validator supporting the Fetch.ai community and concerned within the negotiation, Ocean Protocol is open to returning the tokens, offered they obtain the provide in writing.

Lately, Sheikh provided a $250,000 reward to anybody who might present particulars about people liable for a digital pockets linked to OceanDAO. What did he say? Learn the total story.