So Pandacoin has no premine and no IPO. Other Proof of Stake (PoS) coins such as Blackcoin and Cinnicoin can say that too.
But there is one thing that the other coins can't say.. Pandacoin has 3 months Proof of Work distribution phase which lasted from Feb 16, 2014 to May 21, 2014 . That is a total of 94 days!
Blackcoin has a total of 7 days mining phase. Cinnicoin has a total of 3 days mining phase.
Those coins can say it's not 'premine' but with such as short mining phase it might as well be premine.
Anyway, I'm looking forward to May 21 when PND switched over to PoS. In the meatime, I'll continue stocking up and mining PND.