So how does it work with the premine? The devs get 1% or 110,000 EXP per month? Then, can they do whatever they want with those 110,000? or do they need to vote on what happens with those funds?
If its a vote, does the public see the results of the vote in real time? For example if the devs decide to dump for funds, do we get to know right away?
Great questions. Most of the reserve/premine is for the community to vote on and is not designed to go to the founders/team. There is 1 million exp for the team that we get for doing the work, that is set aside for the future, and we will start distribution of it once we have built up the project and value enough. This is a long term project and we designed it so we could fund it for the long run. Only a small amount will be released to team members at a time, and that is down the road once the project is ready for it. (It will be announced well in advance)
So right now for example, I only have what EXP I might be mining. Down the road the team will have some more, but we we would only use for funding carefully as we are experienced traders and want to support the market as much as possible.
The vast majority is for funding 3rd party devs and projects to build up the value. All of that will be transparent, and votes in that case will be based on blockchain snapshots, at least in terms of EXP based votes. Not sure if real time updates, but certainly everything would be fairly quick with all other results at that point.
The Whitepaper goes into a bit more detail. I have it uploaded here in case you are interested:
https://www.facebook.com/groups/expanseofficial
