As far as I understand your coin will have its own block-chain and be extracted through the POS algorithm. This is an interesting proposal considering that most startups are implemented through smart contracts ERC20. I consider the option of participation, but nowhere do I see information about how much I will receive coins for 1 BTC?
In the whitepaper near the end in the Token Sale section (it is very long at 70 pages) it says that the exchange is 2000 TPAY to 1 BTC. I agree with your sentiments about the value of this coin having its own blockchain. I'm tired of all this ERC20 junk. What attracted me to this project is that Sunerok is on board. I'm a huge fan of Verge and what they have been doing for the community. I think once this coin hits the exchanges it will be a winner. I wonder if the typical "ICO buyers" will be able to see beyond the pricing as they are accustomed to getting thousands of coins for a dollar with the ERC20 token sales. This one is priced at a few dollars, because the supply is tight. Ambitious project like I said in my first post but it looks like they have the team to pull it off.