As far as I understood you won't have an ICO? 13,5 mil tokens will be (or already was?) pre-mined for the needs of development and bounty, what's with the rest? I haven't yet seen a project that wouldn't have an ICO, that's something new. Could you guys elaborate a bit on that?
Hi wissy - You are right. The 13.5 mil tokens have been pre-mined for bounty and development purposes. Our litepaper has the detailed breakdown.
Our total supply is 100M Toorcoin and the remainder tokens will be minted over a period of 20 years through our unique reward staking mechanism. Via this mechanism, users are rewarded for holding Toorcoin in proportion to their holding size and holding duration, which is a key differentiation of Toorcoin. Hope this helps and please feel free to reach out or join our telegram group if you have any more questions.
That's an interesting strategy. But 20 years is a long period of time for all coins to be mined, I hope you will be able to maintain good supply and demand, so the price of coins stays attractive.