Well, I hate to disappoint Aris, but there is a premine, a private sale, and the concept depends entirely on 'masternodes.'

However, we will be absolutely transparent about the exact details of the sale and premine, and it's all done through a registered non-for-profit entity in Australia.

As for the masternodes, they deserve the bad reputation that they have. As far as token economics go, they are astonishingly good at creating an unnatural upward pressure on coins that don't deserve the caps that they have because they restrict the liquidity of the coin and often fall prey to being operated by a select few parties who effectively act like an oligarchy on the network. If you read our WP, you'll see some of the changes we are introducing to this model to make them more equitable. The reason we are using them is because of the opportunity they present to function as the incentive layer for a trustless decentralized comms network, not because they can jack up the price of a coin, hence our renaming of them to Service Nodes.

They also serve to help balance out the enormous transaction size that Monero and it's derivatives have. At least in this system, nodes are paid to operate, despite your average Monero transaction weighting in at 13 kB (although perhaps less with bulletproofs, but still comparativley very large for networks that attempt to be censorship resistant and distributed).



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