Publicly visible addresses and verifiable transactions
Second, all NeuCoin tokens owned by the foundations, as well as all restricted NeuCoins (whether owned
by founders, angel investors or service providers) will be held and mined in published addresses
clearly visible and verifiable on the NeuCoin blockchain.
Another shameless lie
So much for transparency huh??
What are they hiding??
Hahaha, you just keep fudding like i know you will. Dude.
Meanwhile, back at the ranch... I found THIS in my inbox... also on
http://forum.neucoin.org/t/neucoin-distribution-update-what-s-up-next/------------------------------------------------------------------------
Hi everyone,
We just launched a blockchain explorer on
http://explorer.neucoin.org where it’s easy to track NeuCoins held by the foundations and restricted NeuCoins held by the team and angel investors. Read NeuCoin’s first official Distribution Review below.
So what’s next? Over the next three months, the rubber will start to meet the road. We will roll out the first NeuCoin-integrated Facebook game (currently in private beta) and the first tipping application, which will be supported by viral referral programs and marketing campaigns. These are the initial consumer projects that will put NeuCoin on the path to mainstream adoption. Stay tuned!
NeuCoin Distribution Review
October 13, 2015THREE CATEGORIES OF NEUCOINS: “HELD BY FOUNDATIONS”, “RESTRICTED” AND “AVAILABLE”VERIFIABLE ON THE NEUCOIN BLOCKCHAIN AT explorer.neucoin.orgNeuCoin was launched on September 23, 2015. At the time of launch, NeuCoin’s premine of 3 billion NeuCoins was allocated as follows:
• 2.4 billion held by foundationso 0.2 billion - Code foundation
o 1.4 billion - Growth foundation
o 0.8 billion - Utility foundation
• 0.5 billion restricted for use or saleo 0.2 billion retained by team
o 0.1 billion sold to initial seed investors
o 0.2 billion sold to strategic angel investors
• 0.1 billion availableo 0.1 billion exchanged for Bitcoin to users in the crypto-community
At the time of launch, the 100 million NeuCoins that were exchanged for Bitcoin in the pre-sale constituted the only available supply of NeuCoins for use or sale.
All NeuCoins held by the founding team, seed and angel investors and future service providers are restricted: subject to strict use and re-sale provisions for five years. In the year following launch, restricted NeuCoins (along with any Proof-of-Stake rewards earned thereon), become unrestricted at the rate of 2% per month (see details on sale-restrictions below).
The foundations will distribute their NeuCoin endowment over time to reward and incentivize all participants who help increase NeuCoin’s utility and value. Some will be given directly to consumers so they can try out NeuCoin, or recruit others to try NeuCoin (these will be “available” at the time of distribution). Some will be awarded to service providers that make NeuCoin more valuable over time - these will have the same 5 year use and sale-restrictions as all other “restricted” NeuCoins. Some will be sold on exchanges with the proceeds used to increase the value and utility of NeuCoin - these will be immediately “available”. For more information about the foundations’ distribution of NeuCoins, please see NeuCoin’s Year One Distribution Plan and Product and Marketing Roadmap. The NeuCoin foundations will also publish quarterly distribution reports and provide details on material transactions. They will also report any sales of NeuCoin tokens on a monthly basis.
Note that all categories of NeuCoins will gradually increase from Proof-of-Stake mining, with rewards starting at a 100% a year in year 1 and gradually declining to 6% by year 10. For more information about NeuCoin’s PoS rates and economics, see detailed PoS rates, Technology & Economics Overview, and the NeuCoin Whitepaper.
FOUNDATION HOLDINGS OF NEUCOINSUntil distributed, all NeuCoin tokens owned by the foundations will be held in two types of publicly visible addresses whose transactions are verifiable on the NeuCoin blockchain:
• Core AccountsThis is the where the majority of each foundation’s endowment are held and mined.
• Distribution AccountsThese are intermediate addresses for near-term transactions; where foundations temporarily hold NeuCoins that are to be distributed to consumers, service providers, etc according to the Distribution Plan.
NeuCoin Growth Foundation• Core AccountNdoQ1quvqEnkNMqtSzVhTKiLrbDuKQYQz6
Current balance: 1,411,071,126 NEU
• Distribution AccountNUbJjdF5U4vDrZmAhjCDtsQ9cnWnfZBSkB
Current balance: 49,979,999 NEU
Total current holdings: 1,461,051,126 NEU
NeuCoin Utility Foundation• Core AccountNRm3zEZGHMFKeFiqQRPHBrAi667Z3ZG7jt
Current balance: 783,869,300 NEU
• Distribution AccountNachW2LivFyz7HockGuvGXW7wGp5Mfat7n
Current balance: 34,999,999 NEU
Total current holdings: 818,869,300 NEU
(This number would be 15,000,000 higher, but for the fact that this many NeuCoins were transferred to market maker accounts as described in the “Available” section below).
NeuCoin Code Foundation• Core Holdings AccountNNxGqwonJnY2WADQRAuUyj9q433WWCS4SC
Current balance: 198,561,938 NEU
• Distribution AccountNcojryM6S2WgZQg5udGHuBL4hCNExPQ5AE
Current balance: 10,000,000 NEU
Total current holdings: 208,561,938 NEU
RESTRICTED NEUCOINSAll NeuCoins held by the NeuCoin team, seed and angel investors, and future service providers compensated in NeuCoins, are subject to use and re-sale provisions for five years, so that holders may only use or sell 2% of their holdings per month in the first year, 3% per month in year two, 4% per month in the year three, 5% per month in year four and 6% per month in year 5. After year 5, restrictions expire.
Restricted NeuCoins are held and mined by the NeuCoin Utility Foundation in the following addresses:
• Seed investorsNbToLL7P8GbN9uNfXxatjj3UQGtWVqnxdk
Current balance: 104,912,620 NEU
• Angel investorsNddwdSJ52ynU3knupStmjebfD67auQr4kp
Current balance: 209,664,856 NEU
• TeamNc6hgNNenc8TprJKktgewUKweA8wbsGr2q
Current balance: 209,635,452 NEU
• Service providersA fourth account for restricted NeuCoins owed to Service Providers will be created shortly.
Total restricted NeuCoins: 524,212,930 NEU
At the end of each month, tokens that have come unrestricted will be transferred to their owners and become part of the available supply. That means that the above account balances will increase from PoS mining, and decrease from the monthly transfers of coins that have become unrestricted. All of the balances held in these addresses, along with the monthly transfers, are visible and easily verifiable on the blockchain at the above addresses.
Illustration of how the re-sale restrictions work in practiceConsider an angel investor who owns 1 million NeuCoin tokens on the day of launch. For the first month after launch, the angel cannot sell any NeuCoins; indeed the angel does not even have any access to the private keys for his/her tokens. During the month, assume the angel’s NeuCoins grow to 1.08 million due to POS rewards. At the end of the month, 2% of 1,080,000, or 21,600, would become unrestricted and sent to the address of the angel’s choice. At the beginning of month two, the angel has 1,058,400 restricted NeuCoins. During the month, assume this restricted coin balance grows 7.9% from POS rewards to approximately 1,142,000 coins. At the end of the second month, 2% of this balance, or 22,840 coins, become unrestricted, and will be sent to the angel’s address. And so on.
AVAILABLE NEUCOINSAll remaining NeuCoins - all that are not held by the NeuCoin Foundations and not subject to use and sale-restrictions - constitute the “available” supply of NeuCoins. The available supply includes:
• NeuCoin tokens acquired through the presale in exchange for Bitcoino 100 million NeuCoin tokens
• NeuCoins earned from Proof-of-Stake rewards by staking “available” NeuCoinso approximately 2 million NeuCoins as of now
• NeuCoins earned from Proof-of-Work rewardso 5 million per month will be created during the year after NeuCoin’s launch
o approximately 2 million NeuCoins as of now
• NeuCoins distributed by the NeuCoin Growth Foundation to consumers in exchange for learning about or engaging with NeuCoin in some way.o approximately 5 million NeuCoins will be distributed no later than October 23 that were earned for taking surveys prior to launch (the actual number will depend on the number of survey-takers who pass through the user verification process)
o consumer distribution will begin in earnest in November after the release of the first NeuCoin-integrated game
• Restricted NeuCoins that become unrestricted according to the schedule aboveo approximately 10.8 million NeuCoin tokens will become available on October 23
• NeuCoins sold or made “available for sale” by the foundations o 15 million NeuCoins were advanced after launch to multiple market makers whose roles are to provide liquidity and sell NeuCoins on exchanges over time to fund the foundations’ fiat expenses. All NeuCoin sales by market makers will be reported on a monthly basis. So far none have been sold, but the 15 million nevertheless count as “available” supply.
o The NeuCoin foundations intend to sell approximately $1 million worth of NeuCoin tokens during the year following launch, which proceeds will cover the foundations’ baseline fiat expenses in the second year following launch.
At this current time, there are approximately 118 million NeuCoins available for use or sale. This number is expected to be approximately 135 million by October 23.
