As the first believers, we bear the risk.
The first line of code was written in May 2018. There was no ICO, private sale or VC funding. The core team pooled together a collective $1M to self-fund Incognito’s development for 18 months. They didn’t want to accept external funding before the project became a reality.
At the mainnet launch on November 2019, 5% of the total supply (5M PRV) will be pre-mined to compensate the core team for their initial investment. The remaining 95% of the total supply (95M) is strictly mined through block rewards.There is no other pre-allocation.
After the mainnet launch, Incognito will continue to fund development using a small portion of block rewards.
This funding structure reduces price-speculation, avoids public market pressure, and retains focus on building and shipping a great platform for decentralized privacy tokens.