oh wow, i had no idea it was premined. that's certainly a scar on its reputation if true. its no different from cloudcoin then.
cloud coin was premined 0.1% redcoin was premined 0.001%
or in perspective it would be equal to a 100million premine on redcoin, so looks quite different to me.
Cloudcoin was premined 1% (1mil out of 100mil). And a few weeks after launch its at 1.2 mil coins. Much more extreme than was just explained with Redcoin.