Will you opening an ICO?
Also, please kindly explain me, why did the total supply of this coin is infinite?
Is there any reason behind it?
Hello!
There will be no ICO. We are continuing the work of the original Developer and not letting the coin die.
Regarding the infinite supply: ChiliCoin has a small inflation rate of about 5%, which also reduces year on year, when it reaches the final Phase of PoS. Here is the reasoning for it: For a currency to be a true currency you need velocity and liquidity.What happens to a coin when miners/stakers no longer are receiving block rewards? Fees go up? that doesnt provide for liquidity in the marketplace.
At the same time, transaction fees get burned by the network. This means if the transaction count increases, it can reach equilibrium where the amount of coins being produced is equal to those being burned. This can even exceed the amount of coins being generated and de-flate the total supply.