how exactly is the distribution for 2GIVE happening? most other PoS coins have quick PoW mining period to distibute coins, or maybe sig campaign etc, then PoS cuts in. How is the initial distro happening? I like the tx reward model, but if that's how the whole distribution is happening then that implies the foundation must have a hell of a lot of coins for a long time
Thanks for asking.
The initial distribution was to the holders of V1 (GIVE) held at Bittrex which accounted for about 80% of the total mined coins, of which SNF held 22%.
From here SNF is distributing the coins via block rewards by bouncing coins between seed nodes, this is actually one of the first equitable "air drops" to date -- all it requires is running the wallet in mining mode to help secure the network -vs- marketing gimmicks like gather email address, asking for tweets etc. Stuff we'll also likely do for existing stakeholders when we launch the community portal and our "Get Confirmed" campaign.
After the original contract was fulfilled (500M coins) -- SNF held an approximate 58% stake which we use in the seed network as well as doing "coin swaps" -- WATER, KARMA, PMP, CAT, and now CAPT.
All of the foundations addresses are publicly known as "GiveCoin*" and can easily be monitored by the stakeholders.
The goal is 2GIVE it all away by building a vibrant, passionate, and engaged community of stakeholders.
The value and utility of this coin lives largely outside of the classic "miner-speculator" symbiotic and largely dysfunctional relationship and moves it to a "stakeholder" and "underwriter" model that will hopefully bring about a virtuous cycle in charitable giving and social tipping.
I hope you'll join us!
-dvd
