A 20% pre-mine dev award? For just a dPOS coin?
We can wait to judge the pre-mine until we see what features you will build in Semux, to see if your work justifies it. But honest feedback is that 20% seems quite high based on the information we currently have.
Also, won't the top 100 coinholders just vote themselves as delegates and keep getting richer, while the rest get poorer? Or is the idea that holders outside the top 100 will pool their votes? How would they do that if they don't know each other? By voting a pool wallet as delegate?
Thank you for your input! A couple of points:
1. The consensus algorithm is dBFT instead of dPOS, though I agree that it shares many properties with dPOS.
2. The 20% dev funds will not be used for minting unless it's necessary to secure the network. It means that the community will own the majority of total circulation at least initially.
3. YES, top coinholders will vote for themselves if they are rational, and richer people will get richer. But we expect the rich people of semux to be pools, voted by public, which is no different from the bitcoin mining in terms of coin distribution.
4. If no pool is set up before we launch our mainnet, the foundation will set up an official pool.
