Nice post, I didn't know that steem was build by the same people. I still have a lot of questions about this ICO though.
You pay in, and receive a # of tokens based on the state of the ICO after a year? Is this right?
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20% or 200 million tokens are reserved for the first 5 days. After this a price is established. Then for 350 days there is a mini-ICO everyday. There is no cap each day, and there will be 2 million tokens available each day. At the end of the year the ICO ETH tokens will hopefully be swapped for tokens in the actual EOS blockchain.