Our community premine is 6% of the maximum supply. The 12M of community funds were locked over a 5 year period. Every quarter (3 months), a deposit of 400 ₡CCX is released to cover operation expense, exchange listings, marketing efforts and to pay team members and collaborators.
In order to unlock funds and have them available in the project wallet, a manual process is used. This method provides the highest level of transparency by giving the ability for anyone to verify funds in the project wallet at anytime.
Deposits must be unlocked manually, because they use private keys (just like any normal Cryptonote transaction) and can't be automatized. Each time funds are unlocked to the project main wallet there is a corresponding image to a hash key. Any deposit amounts moved from the locked reserve to the project wallet are therefore verifiable by hash keys.
In addition, the unlock transaction list is then made public and available using our explorer (available here: https://explorer.conceal.network/index.html#funds ) and can be audited by anyone, anywhere, at any time.
Conceal Network uses the real Cryptonote, the original. All supplies are verifiable in the chain using the available block-chain tools. Any address can prove its balance with private BP keys. Any transaction can have a payment proof using private secret keys.
You don't need to trust the team. Trust the open source code which can be verified and is published here: https://github.com/ConcealNetwork
The premine belongs to the community, as this is a community project. The team only serves as stewards of the premine as they manage the project.
Through collaboration, anyone can earn ₡CCX by helping the project grow and evolve. In fact, the Conceal Wiki was made by community members and they were paid in ₡CCX for creating and maintaining it.
People can also get a ₡CCX grant by applying to ₡CCX Labs. This ₡CCX grant helps run their own projects in the Conceal Network environment. Labs funded projects are on-going and voted on by the community and are funded by ₡CCX premine.
Our focus is to be as transparent as possible.
Premine batch unlock dates: