How is it ensured that the 10% funds will go where it should? IS there any other trusted governing body overlooking the process? Will financials be 100% transparent with a yearly transparency report?
Zcash takes 20% / BWK takes 10% / ZenCash 8.5% - these are all founder's fees. 10% of Block Reward will go towards Development Funds. A break down of which will include: funds to continue develop the project, legal fees, exchange listing fees, and as well as coral reef charities. All the fees and funds will be fully transparent. We will be implementing a voting system into our wallet as well so the community can vote on where donations will be going each month.
The beauty of this is, if REEFCOIN doesn't live up to its promises - the community will steer away. This is majorly different than premine and MN presale because devs/ founder can just dump their premine and money from MN presale and run away. 10% founder fee is gradual. We need constant funding to make the project thrive.
Please keep in mind that this is a life long passion project for me. I LOVE the REEFS and CRYPTO. Before this I used to have a coral farm in my basement selling as a vendor/store. This project was created on the grounds for passion, transparency, trust and decentralization. For all transparency and decentralization purposes a voting system on the wallet will be developed so people can choose the charities funds will be going to.