I'll give a short summary.

It's got an IPCO (Initial Public Coin Offering) in 2 phases, 1 before the launch wich finished now. And i wich started now to give non miners an option apart from exchanges to get coins.
These coins are released to the buyers over a course of 90 days (1.11% a day) to prevent instantly dumping everything. That's where the premine is going to