Fetch.ai
At the center of the issue is a large amount of Fetch.ai’s FET tokens, which the two parties are working to return as part of a resolution.
Fetch.ai announced on October 23 that it would stop all legal action against Ocean Protocol Foundation if 286 million FET tokens were returned. These tokens were reportedly moved during a merger between the two projects.
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Speaking during a live discussion on X Spaces, Fetch.ai’s CEO Humayun Sheikh said the next step would be a formal written offer. Sheikh said, “They are expecting a legal proposal from us for the return of the tokens”. He added:
The offer is simple: give my community back the tokens. I will drop every legal claim.
To further support the agreement, Sheikh also said that Fetch.ai would cover the legal costs associated with finalizing the contract.
He noted that the official document could be ready as early as October 24.
According to a post on X by GeoStaking, a validator supporting the Fetch.ai network and involved in the negotiation, Ocean Protocol is open to returning the tokens, provided they receive the offer in writing.
Recently, Sheikh offered a $250,000 reward to anyone who could provide details about individuals responsible for a digital wallet linked to OceanDAO. What did he say? Read the full story.
