Quote from: CryptoClub on March 06, 2016, 11:14:07 PM

The 770k remaining is the team fund that we use sparingly, if you compare to some other projects they use far more than us and run out of funding quickly. We had no ICO and the only payment any devs get is from building up the value. We started at the bottom literally, and have been building it up. To be frank, we want to spend as little as possible so we can stake our coins in the future as we believe in the project, and ideally, I think we can potentially build to a marketcap in the millions. The announcement does detail that the 1 million for the team would be used over 1 year, and it has been around 7 months, so we are under budget if anything. We also never dump coins and we care greatly about building up the value.

The 10 million community fund will be totally controlled with smart contracts and only used as desired by the community at large. If you check the white paper we go into detail about the safeguards and limits. The short version is that the smart contracts will greatly limit the amount that can be released, and this means that even if the community votes poorly, it is possible to correct as there would be time to notice poor spending votes.

http://www.expanse.tech/docs/whitepaper-draft.pdf

As for Proof of Stake, that will come either after ETH goes POS and we will use the same implementation, we might go hybrid, and I know another coder with an option that might compete with Casper and that could be very revolutionary. We are still in talks and discussion about this. I am in favor of it as it could give us a huge competitive edge that might surprise many, but regardless, some form of proof of stake will happen in time.

A new website is coming by the way, and an announcement for the new team members joining. New videos. Much is in progress. I also think as we actually used less funding that we said we would that shows that we are very committed to the project long term. This is something we really love doing, and I am confident in time we will win over most people with any doubts.

Thanks for your detailed response. It is reassuring to know you still have a reserve and it is being used wisely by the sound of it.
Looking forward to the staking development.

Back to the DAO and contracts over the 10M. If I have e.g. 100 or 1k or 10k EXP, from the whitepaper does this make me a "shareholder" with 1/3 voting power times what ever number of EXP I hold?
By the look of it, any shareholder, even with 1M EXP, would be by definition overwhelmed by any monthly funding vote of the founders+directors.

Even so, worst case "flood" of 1% per month. That to me is not so bad, especially given the control you have shown so far.

Also, will the 770k in the dev reserve be exculded from voting, and how will this be done?