Seems there is a need to clear things up about a bit
The premine is on the first page since day 1. It has always been clear that
250k coins were premined.
200k of those will be held as bounties for dapp development and nodes. We want SHIFT to grow as fast as possible, so we need incentives for people to start contributing and developing. So far there is 1 dapp project for Ethereum, that's Augur. And it's asking people for money in their ICO.
50k (or
at most 2.5% after PoW) are our core dev fund, to pay for hosting, bounties, design, pr, marketing, etc. For example, we're in contact with OCMiner about the missing transactions he has been paying out. The dev fund will repay him for his support and generosity. Block explorer development will likely be funded with those coins too.
More importantly, as soon as a better explorer is up, the majority of the premine will be held by a trusted, public third party escrow.
If anyone has any concerns whatsoever, feel free to contact us