The token, if launched, would mark the latest contribution from Larimer to the altcoin world, the developer also holding the titles of co-founder of blockchain social network Steemit and creator of DAOBitShares.
On Telegram Wednesday, Larimer said he had “stumbled upon” the concept for a new currency-focused token while working on EOS “security and scalability.”
“…I stumbled upon a new set of tradoffs [sic] for a potential crypto token and I have merely been exploring whether there is a market for those tradeoffs,” he wrote in the public Telegram group.
Along with refuting claims that he plans to quit EOS, Larimer added that the token “would in no way compromise the much larger use cases” for the platform.
In a separate Telegram group the same day, a long list of attributes for the token appeared, with Larimer giving it the bizarre title “MonerEOS” – seemingly a mash-up of privacy-focused altcoin Monero (XMR) and EOS.
“Crypto people will hate it,” he claimed in a message.
Larimer had said in October that EOS was not focused on providing decentralization.
At the same time, Steemit has also encountered fresh teething problems, this week announcing it was making over two-thirds of its workforce redundant.
Perhaps unsurprisingly in the current climate, commentators reacted coolly to the new token.