That's what happens to aggressively premined cryptocoins.
Sorry, There were 10 blocks premined a total of 1.5million, the owner of this coin didn't sell any coins, infact when you check coinedup then you will notice that there aren't even 1.5million coins being traded, so... I don't think that a 1% premine is bad, look at other coins, nobody complained about Earthcoin, or Coyee West, also premined and even more then this one. Btw, you need those premined coins, to pay out developers, for givaways, ... or will you do it all by yourself, developing games etc
SPECIFICATIONS
Algorithm : Scrypt
150 million total coins
Reward: 500 OGC for first 1440 blocks, then 100 OGC
1 minute block times
Re-target every 60 blocks (each hour)
Starting difficulty : 0.00024414
Reward halving interval 150,000 blocks
RANDOM BLOCK REWARDS
0.1% of blocks will be rewarded 5000 OGC
2% of blocks will be rewarded 500 OGC
PREMINE
10 blocks for bounties and promotions