What is EOS crypto and what happened to it?

EOS crypto is the native token of the EOS blockchain, a smart contract network that promised fast, fee-free transactions for apps. It was developed by the company Block.one and funded by one of the largest token sales ever held. In 2025 the network rebranded as Vaulta and moved to a new token with the ticker A.

What is the EOS blockchain?

The EOS network went live on June 14, 2018. MIT Technology Review reported that Block.one had raised about $4 billion over the previous year by selling tokens for a system that did not yet exist. Block.one's chief technology officer was Dan Larimer, who had earlier built BitShares and Steemit.

EOS uses delegated proof of stake. Instead of miners, token holders vote for 21 block producers that confirm transactions, with votes weighted by how many tokens each holder stakes. Critics argued from the start that this could concentrate power among a few large holders. For background on how these systems differ, see what is a consensus mechanism.

What does EOS crypto stand for and what is it used for?

EOS is not an acronym. The name comes from the Ancient Greek word for dawn. Holders use the token to stake and vote for block producers, and it is the asset that moves between users and apps on the network. Developers build apps on the chain with smart contracts written in C++, and the network also supports Ethereum-style (EVM) contracts.

The token sale ran from June 2017 to June 2018. In September 2019 the SEC said Block.one had sold securities without registering the offering and ordered a $24 million penalty, which Block.one accepted without admitting or denying the findings. You can read more about how these sales worked in what is an ICO.

What's happening to EOS crypto?

Relations between the community and Block.one broke down over time. In August 2021 Yves La Rose founded the EOS Network Foundation, which pushed Block.one to put more money back into development, according to Wikipedia's account.

In March 2025 the network announced it would rebrand as Vaulta and shift toward what it called Web3 banking. Forklog listed four focus areas: capital management, consumer payments, investment portfolios and insurance. The Block reported partners for custody and real-world asset ownership, a banking advisory council, and an integration with exSat aimed at bringing Bitcoin into the ecosystem.

The new token uses the ticker A. EOS holders can exchange EOS for A at a 1:1 ratio through the official swap portal. CoinJar notes that the original two-way swap window has closed, so the swap now only runs from EOS to A. Swaps like this attract scammers, and a genuine swap tool never asks for your seed phrase. See what is a token migration for how these moves work in general.

As of October 2026, the chain continues under the Vaulta name, and its banking plans are still at an early stage.