You clearly haven't put in the effort to understand the project. Read the white paper, it should clear some things up.
To respond to your first comment, the erc20 token is just placeholder to jumpstart the projects. The tokens will be ported to the EOS network once it is launched (in 340 days).
The whitepaper doesn't address any question in vein of "why it will work", though. The model of operation is PoS (with extra bells and whistles), it is not yet known if a PoS model can be scalable and/or fast enough to match their declarations. There's not a single PoS altcoin in the world that has grown to even be comparable with "millions of transactions per second".
PS: I'm not questioning if it can do that theoretically, in a closed ecosystem with all the necessary hardware. But I have doubts as to whether it is possible to do it "naturally" in an open ecosystem, and even stronger doubts about this particular altcoin doing it.