Just curious does anybody know how the 5% annual rate will be paid. Is it 5% annual paid daily or at a different rate?
Also curious how many coins does everybody hold here? I have only about 5,000 coins right now, planning to have maybe 20,000+ in my PoS account eventually. I can probably mine all of that, especially with so many miners dropping out.
I didn't check the code but I am 99% sure it works like any other coin:
The amount of coins you put at stake in your wallet gives you a number of "lottery tickets" for each block.
Every block one "winner" is chosen. The winner gets the block reward to its wallet.
The more you put at stake the bigger the chance you win the block reward. At average you will win 5% of your coins at stake yearly.