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Website: gapcoin.org
Twitter: Gapcoin

Specifications:

• PoW: custom, prime gaps
• Block target time 2.5 minutes
• Block reward proportional to the current difficulty
• Block reward halving every 420000 (about 2 years)
• Cap: about 10 - 30 million GAP
• Difficulty adjusts every block and increases logarithmic (it will probably take years to get to 50)

Fair launch:

• Gapcoin was not designed to enrich the early adopters or the coin creators! The more people mine Gapcoin, the more coins per block will be produced. (Coin supply will increase logarithmic with the difficulty, this means it will grow in the beginning, but later, it won't change much.)
• There won't be any premine!
• To avoid instamine, the reward of the first 1152 blocks (about 48 hours) will increase quadratically to its absolute value: the current difficulty. Block reward will be 1/1152^2 * blockheight^2 * difficulty for the first 1152 blocks. This should guarantee that the difficulty is stable until the blocks yield a worthwhile amount of coins.
• Source code will be available before launch (excluding the PoW function), so everyone can setup their own environment, compile the software, and check if everything works.
• Windows and Linux binaries will be distributed in an encrypted container before launch, the password will be revealed at launch.

Launch date: Tue Oct 21 2014 - 18:00 UTC

Edit: Website now contains a mailing list.
Edit: Reward scheme changed: Block reward halving every 420000 (about 2 years) with about 10 - 30 million GAP.
Edit: We have an new and unique logo.
Edit: Launch date released


Launch thread: https://bitcointalk.org/index.php?topic=822498

Any estimation for release?

Yes


In the beginning maybe, but once the difficulty has stabilized, the block reward won't change much.
Due to the logarithmic difficulty increase, the block reward will only have significant increase at the start.
This will effectively avoid instamine!

Interesting idea.  Will you be releasing a whitepaper?

Interesting  Keeping an eye on it.

From the website:


Anonymously, or "anonymously"? 

Source code will be available before launch (excluding the PoW function).
The hashing part will only contain prototype functions.
You won't be able to do anything with it, except checking if you setup your compile environment correctly.


Anonymously as in Bitcoin "anonymously" 



Theoretically yes, but it will be much harder than just copy paste.


Yes

Suggest you update logo

You could use this prime-sieve program as a logo:

i will watch this coin 
CPU? is this CryptoN?