I think the concept is very interesting, but i think the premine maybe too much. Also why only legendary members, and not Hero and Sr Members too? There are not that many Legendary members even active i am sure, so distributing the amount to Hero and Senior members too would make more sense.
It doesnt matter if there are 800M EVO and I am giving away 740M.
What difference does it make if I will make it 80M and give away 74M?
I will create accounts for legendary members only so that I won't consume too much time creating accounts.
Everyone who gets an account can give others accounts too. And they will get 500 EVO each time those they refer gets 5000 EVO.
Always remember, when you get your account, change your password to get your new private keys and remove the old private keys.
Or even better, use your new account to create a fresh new one.