*To encourage early adoption block values for first 3 days are :- 500 MNC, 100 MNC, 50 MNC
Shouldn't you have generated 500 coins that block?
I think the rewards are based on the block#. With 1 minute blocks, 60 * 24 = 1440.
Apparently we're on day 3.
Mining started at 12:20 GMT April 3 and was announced on IRC and the WWW not long after. There is no premine!