![Block One (1).png](https://cdn.steemitimages.com/DQmQWK66Dscdgi8KdjsJPuRmjjR3SH61d6zqDAFVci1eL7Y/Block%20One%20(1).png)

## The Telos Network, a joint project by members of the EOS BP community says they are launching the first sustainably decentralized new blockchain based on EOSIO software 

 

**Some quick facts**

- Based on EOSIO code and compatible with EOS for dApp developers

- New TLOS tokens to all EOS owners included in Genesis snapshot

- 1:1 with EOS tokens, capped at 40,000 per address

- Dapps not forced to be open source

- Designate a RAM fund to ensure the first 1 million addresses will be free to create

This project is run by a bunch of smaller Block Producers like eosBarcelona, EOS Detroit, EOSmetal, EOS UK etc..none of which are top 21 BP's. They are still active in the mainnet. They are not even back up block producers, so they are only trying to create this project to get some revenue. Again - they are not producing blocks and making money off of EOS - but they are investors holding EOS - so it is in their full right to do something like this. 

Read the complete statement [here](http://www.telosfoundation.io/TelosAnnouncement.pdf)

 

## My Take

Personally I don't like this semi-communist capping of tokens. But keep in mind, there is no harm done by forking an open source code. This is good, because it provides competition and it gives everyone a little push. 

 

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![eos_spinning_logo.gif](https://cdn.steemitimages.com/DQmXa2QrAYHv5zW4zsTtD7NotjJAzijkrPNjgnwjbb8uvVo/eos_spinning_logo.gif)

> Disclaimer: eosmastering is not associated or affiliated with EOS or Block.one in any way. It is a private informational blog run by an EOS investor.