Fez posted on August 26, 2019 07:21:27
I'm wary of this project after starting my research on it. I have only done a couple of hours digging but there are several things that make the uncomfortable.
1. There is no supply limit, and the projects issues a further 1,000,000 NRG each and every month.
2. network emission allocation:
40% to the treasury; a fund controlled by on-chain governance of Masternode owners (current price of a masternode $61k so not particularly easy or decentralised by my standards)
40% to Masternode owners (884 owners each receiving 452 NRG or $2,800 each month) that an ROI 80% p.a.
10% to stakers this seems fair but with ROI of 45% p.a. a little high
10% to the 'Backbone' a fund that is controlled and allocated by the project founder. not that much of a big deal? but that 10% of the supply that could be dumped onto the market at anytime...
there is also the fact that unless there is sufficient interest on the buy side, each and every month the market will become more and more saturated.
3. The team; Now I am not claiming to be a expert in any technical element of blockchain but the projects founder is a youtuber with very little technical experience to my knowledge, and none of the team supporting him seem to be hugely experienced in the industry either. If some of them had experience with some huge payments, data, of computing corporation I would be more comfortable, or even is someone converted from another blockchain project...
4. Missing tokens... Energi ran an airdrop in a couple of rounds and according to a post I found on reddit has yet to be received by many...
This is one I think I will stay clear of.
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