And so, 1'000'000 NXT to you // for giving 5% of NEX (why not PoB?)
These NEX are in fact, NIC.
NIC generate NIC slowly
or NIC can be burn to get NEC, which generate NIC faster.
How the hell do you limit your max number of NEX=NIC to 100% ?
Read twice, seen nothing about the 95%
Not clear at all...
edit: thanks for the link, gonna read.
Is the 95% are given for free? (then why paying a lot for 5%?)
NEX are NIC (correct)... think of it like a bank. low interest rate, low risk.
You invest on NEC (think of it like a company or bank). Higher interest rate. More expensive. Not tradeable.
We still have to work out the exact numbers to get the economic balance correct. Anyway, we can implement it first and plug in the numbers before we release. We'll need to do some simulations.
You are correct, it is not 100% proof of stake. It is a hybrid proof of stake/ proof of burn.
The 5% distribution here refers to the initial distribution.