Premine information

What is being done with the premine is it being soldto pay for a development? or is it staked to receive rewards? if being staked since inception wouldnt that give the team a very large portion of the more then the 5million? which is about 30% but if staked since the beginning probably closer to 6-7 million coins? which is close to 40% of the supply at the moment. anyways maybe there is some information on what is being done with the coins if anyone wants to point me in the right direction.

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Unfortunately we don’t know what the process is behind any of this, which is my current major concern, and this concern has been around for a long time. The more important matter though, is about the DAO, which we also have no idea what the process is like/ and or who controls it (authorizes transactions). The DAO has way more PRV funds than the premine.

The premine itself was “bought” so I don’t believe they think they have a responsibility to tell the community how it’s managed as they probably see it as an investment. But who knows, maybe they will respond to this thread…

I think this would be a good read: The DAO: Incognito Community Governance to fully understand the flow and control of PRV around the Development Team.

From the data we have, with estimate calculations, the “Core Team” is in control of over 70% of the PRV in circulation (and this is on the low end). But you should definitely do your own research. They aren’t really forthcoming with information at the moment.